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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000318306-07-000037.txt : 20070608
<SEC-HEADER>0000318306-07-000037.hdr.sgml : 20070608
<ACCEPTANCE-DATETIME>20070608090645
ACCESSION NUMBER:		0000318306-07-000037
CONFORMED SUBMISSION TYPE:	S-4
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20070608
DATE AS OF CHANGE:		20070608

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACCESS PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0000318306
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				830221517
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-4
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-143587
		FILM NUMBER:		07908325

	BUSINESS ADDRESS:	
		STREET 1:		2600 N STEMMONS FRWY
		STREET 2:		STE 176
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75207
		BUSINESS PHONE:		2149055100

	MAIL ADDRESS:	
		STREET 1:		2600 N STEMMONS FRWY
		STREET 2:		STE 176
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHEMEX PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHEMEX CORP/WY
		DATE OF NAME CHANGE:	19831102
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-4
<SEQUENCE>1
<FILENAME>s4-03.htm
<DESCRIPTION>FORM S4
<TEXT>
<html>

  <head>
    <title>Unassociated Document</title>
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  <body bgcolor="#ffffff" style="MARGIN: 12%; TEXT-INDENT: 0pt"><br>
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>As
      filed with the Securities and Exchange Commission on&#160;June [__],
      2007</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Registration
      No. 333-_____</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>___________________________________________________________________________</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SECURITIES
      AND EXCHANGE COMMISSION </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>WASHINGTON,
      DC 20549 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>____________________</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>FORM
      S-4</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>REGISTRATION
      STATEMENT </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>UNDER
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>THE
      SECURITIES ACT OF 1933 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>___________________</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><u>ACCESS
      PHARMACEUTICALS, INC.</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Exact
      name of registrant as specified in its charter) </font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Delaware</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="21%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>3841</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>83-0221517</strong></font></div>
            </td>
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          <tr>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(State
                or other jurisdiction of</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">incorporation
                or organization)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Primary
                Standard Industrial</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Classification
                Code Number)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(I.R.S.
                Employer</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Identification
                Number)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2600
      Stemmons Freeway, Suite 176</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Dallas,
      Texas 75207</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(214)
      905-5100</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Address,
      including zip code, and telephone number, including area code, of registrant&#8217;s
      principal executive offices) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">___________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Mr.
      Stephen R. Seiler</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>President
      and Chief Executive Officer</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2600
      Stemmons Freeway, Suite 176</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Dallas,
      Texas 75207</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(214)
      905-5100</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Name,
      address, including zip code, and telephone number, including area code, of
      agent
      for service)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">___________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Copies
      to:</em></font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>John
                J. Concannon, III, Esq.</strong></font></div>
            </td>
            <td valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Terrance
                J. Bruggeman</strong></font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Adam
                Lenain, Esq.,</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Bingham
                McCutchen LLP</strong></font></div>
            </td>
            <td valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Executive
                Chairman</strong></font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Foley
                &amp; Lardner LLP</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>150
                Federal Street</strong></font></div>
            </td>
            <td valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
                Pharmaceuticals, Inc.</strong></font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>402
                W. Broadway, Suite 2100</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Boston,
                MA 02110</strong></font></div>
            </td>
            <td valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>19200
                Von Karman Avenue, Suite 400</strong></font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>San
                Diego, CA 92101</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(617)
                951-8000</strong></font></div>
            </td>
            <td valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Irvine,
                CA 92612</strong></font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(619)
                685-4604</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="26%">&#160;</td>
            <td valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(949)
                477-8090</strong></font></div>
            </td>
            <td valign="top" width="27%">&#160;</td>
          </tr>
          <tr>
            <td valign="top" width="26%">&#160;</td>
            <td valign="top" width="31%">&#160;</td>
            <td valign="top" width="27%">&#160;</td>
          </tr>
          <tr>
            <td valign="top" width="26%">&#160;</td>
            <td valign="top" width="31%">&#160;</td>
            <td valign="top" width="27%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Approximate
      date of commencement of proposed sale to the public: As soon as practicable
      after the effectiveness of this registration statement and the satisfaction
      or
      waiver of all other conditions under the merger agreement described herein.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      the
      securities being registered on this form are being offered in connection with
      the formulation of a holding company and there is compliance with General
      Instruction G, check the following box. &#3928;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      this
      form is filed to register additional securities for an offering pursuant to
      Rule
      462(b) 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. &#3928;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      this
      form is a post-effective amendment filed pursuant to Rule 462(d) 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. &#3928;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>CALCULATION
      OF REGISTRATION FEE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div>
      <table border="1" bordercolor="black" cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="29%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Title
                of Each Class</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">of
                securities to be registered</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amount
                to be registered</font></div>
            </td>
            <td valign="top" width="15%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proposed
                maximum offering price&#160;</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">per&#160;unit</font></div>
            </td>
            <td valign="top" width="15%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proposed
                maximum&#160;aggregate offering&#160;price</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amount
                of</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">registration
                fee</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="29%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                Stock, $0.01 par value per share</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,500,000
                (1)</font></div>
            </td>
            <td valign="top" width="15%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$4.93
                (1)</font></div>
            </td>
            <td valign="top" width="15%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$7,530,000</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$227.03</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)
      Estimated solely for the purpose of calculating the registration fee pursuant
      to
      Rule&#160;457(c)&#160;under the Securities Act of 1933. For the purposes of this
      table, we have used the average of the high and low prices as reported on the
      OTC Bulletin Board on June 1, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">_________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      registrant hereby amends the 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&#160;8(a) of the
      Securities Act of 1933, as amended, or until the registration statement shall
      become effective on such date as the Securities and Exchange Commission, acting
      pursuant to said Section&#160;8(a), may determine.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      information in this proxy statement/prospectus is not complete and may be
      changed. Access may not sell these securities until the registration statement
      filed with the Securities and Exchange Commission, of which this document is
      a
      part, is declared effective. This proxy statement/prospectus is not an offer
      to
      sell and it is not soliciting an offer to buy these securities in any
      jurisdiction where the offer, solicitation or sale is not permitted or would
      be
      unlawful prior to registration or qualification under the securities laws of
      any
      such jurisdiction. Any representation to the contrary is a criminal
      offense.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Subject
      to completion ________, 2007</strong></font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        </div>
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
        </div>
      </div>
    </div>
    <div align="center">
    </div>
    <div>&#160;</div>
    <div>
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="white">
            <td width="50%">&#160;Access Pharmaceuticals, Inc. </td>
            <td width="50%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;Somanta
                Pharmaceuticals, Inc.
</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>1,500,000</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      Pharmaceuticals, Inc.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Common
      Stock</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>MERGER
      PROPOSED - YOUR VOTE IS VERY IMPORTANT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      boards of directors of Access Pharmaceuticals, Inc., (&#8220;Access&#8221;), and Somanta
      Pharmaceuticals, Inc., (&#8220;Somanta&#8221;) have each approved the merger of Somanta with
      a wholly owned subsidiary of Access. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      the
      proposed merger is completed, the holders of Somanta&#8217;s common stock are expected
      to receive approximately 0.032343 of a share of Access common stock for each
      share of Somanta common stock they own immediately prior to completion of the
      merger </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">not
      to
      exceed in the aggregate 500,000 shares of Access common stock, and the holders
      of Somanta&#8217;s preferred stock are expected to receive approximately 1690.24045
      shares of Access common stock for each share of Somanta preferred stock,
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">including
      accrued and unpaid dividends</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      they
      own immediately prior to completion of the merger not to exceed in the aggregate
      1,000,000 shares of Access common stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Based
      on
      the number of shares of Access</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      common
      stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      and
      Somanta common stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      and
      preferred stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      outstanding on June 6, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007
      and
      without giving effect to any further issuances of shares of stock by Access,
      after the merger: (i) holders of Somanta common stock are expected to hold
      approximately 4.3% of the combined company assuming conversion of Access&#8217;s
      existing convertible debt under existing terms of conversion, (ii) holders
      of
      Somanta preferred stock are expected to hold approximately 8.7% of the combined
      company assuming conversion of Access&#8217;s existing convertible debt under existing
      terms of conversion, and (iii) holders of Somanta common stock and preferred
      stock taken together</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      are
      expected to hold approximately 13.0% </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">of
      the
      combined company assuming conversion of Access&#8217;s existing convertible debt under
      existing terms of conversion</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      stockholders will continue to own their existing shares, which will not be
      affected by the merger. Access may issue additional shares of its equity
      securities prior to the closing of the merger and Somanta stockholders would
      be
      diluted in the case of any such issuances.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      common stock trades on the OTC Bulletin Board under the symbol &#8220;ACCP.&#8221; As of
      June 7, 2007, the last trading day before the date of this proxy
      statement/prospectus, the last reported sales price of Access common stock
      at
      the end of regular trading hours, as reported on the OTC Bulletin Board, was
      $5.24.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      common stock trades on the OTC Bulletin Board under the symbol &#8220;SMPM.&#8221; As of
      June 7, 2007, the last trading day before the date of this proxy
      statement/prospectus, the last reported sales price of Somanta common stock
      at
      the end of regular trading hours, as reported on the OTC Bulletin Board, was
      $0.29.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      and Somanta cannot complete the merger unless Somanta stockholders approve
      and
      adopt the merger agreement and the merger contemplated by the merger agreement.
      <strong>Approval and adoption of the merger agreement and the merger
      contemplated by the merger agreement, requires the affirmative vote of (i)
      the
      holders of a majority of&#160;the outstanding shares of Somanta common stock and
      Somanta Series A preferred stock, voting together as a single class on an
      as-converted basis, and (ii) the&#160;holders of a majority of the outstanding
      shares of Somanta Series A preferred stock, voting separately as a
      class.</strong>&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certain
      executive officers, directors and affiliates of Somanta have entered into voting
      agreements with Access in the form attached as Annex&#160;A to this document,
      pursuant to which such officers, directors and affiliates agreed, among other
      things, to vote their shares of Somanta common stock or preferred stock in
      favor
      of the merger agreement at the special meeting</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>.
      </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      and Access currently expect that these officers, directors and affiliates,
      who
      in the aggregate own approximately 85% of the outstanding common stock of
      Somanta (assuming the exercise of certain warrants to purchase common stock
      by
      certain affiliates) and approximately 60%&#160;of the preferred stock of
      Somanta's or 70.84% of Somanta's outstanding voting stock (on an as-converted
      basis), will vote all of their shares in favor of the merger
      agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Access stockholders are not required to vote on the merger. The obligations
      of
      Access and Somanta to complete the merger are also subject to the satisfaction
      or waiver of several other conditions to the merger. More information about
      Access, Somanta and the merger is contained in this proxy statement/prospectus.
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>We
      encourage you to read carefully this proxy statement/prospectus before voting,
      including the section entitled &#8220;Risk Factors&#8221; beginning on page
      18.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      Somanta board of directors recommends that the Somanta stockholders vote &#8220;FOR&#8221;
the proposal to approve and adopt the merger agreement and the merger
      contemplated by the merger agreement. The Access board of directors approves
      the
      issuance of shares of Access common stock in the merger. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      has received voting agreements from certain Somanta stockholders representing
      approximately 85% of Somanta&#8217;s outstanding common stock and approximately 60% of
      its outstanding preferred stock, or 70.84% of Somanta&#8217;s outstanding voting stock
      (on an as-converted basis), under which the parties, subject to certain limited
      exceptions, have granted an irrevocable proxy to Access to vote their shares
      in
      favor of the merger.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      proposals are being presented to the Somanta stockholders at their special
      meeting. The date, time and place of the meeting is as follows: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="36%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">____day,
                _______, 2007 at 9:00 a.m., local time at</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                Pharmaceuticals, Inc.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">19200
                Von Karman Avenue, Suite 400</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Irvine,
                California 92612</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(949)
                477-8090</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Your
      vote is very important.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      Whether
      or not you plan to attend Somanta&#8217;s special meeting, please take the time to
      vote by completing and mailing to us the enclosed proxy card or, if the option
      is available to you, by granting your proxy by fax. If your shares are held
      in
&#8220;street name,&#8221; you must instruct your broker in order to vote. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="center">
      <table cellpadding="0" cellspacing="0" width="95%">

          <tr>
            <td align="left" valign="middle" width="38%">&#160;</td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
            <td align="left" valign="middle" width="34%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Sincerely,</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="38%">&#160;</td>
            <td align="left" colspan="2" valign="middle" width="36%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                R. Seiler</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Terrance
                J. Bruggeman</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">President
                and Chief Executive Officer</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Executive
                Chairman of the Board of Directors and Secretary</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                Pharmaceuticals, Inc.</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                Pharmaceuticals, Inc.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">None
      of
      the Securities and Exchange Commission, any state securities regulator or any
      regulatory authority has approved or disapproved of these transactions or the
      securities to be issued under this proxy statement/prospectus or determined
      if
      the disclosure in this proxy statement/prospectus is truthful or complete.
      Any
      representation to the contrary is a criminal offense. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
      proxy statement/prospectus is dated&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
      2007, and is being mailed to stockholders of Somanta on or about
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
      2007. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        </div>
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
        </div>
      </div>
    </div><br><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ADDITIONAL
      INFORMATION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
      proxy statement/prospectus incorporates by reference important business and
      financial information about Access and Somanta from documents that are not
      included in or delivered with this proxy statement/prospectus. For a more
      detailed description of the information incorporated by reference into this
      proxy statement/prospectus and how you may obtain it, see &#8220;Additional
      Information&#8212;Where You Can Find More Information&#8221; beginning on page 232.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">You
      can
      obtain any of the documents incorporated by reference into this proxy
      statement/prospectus from Access or Somanta, as applicable, or from the
      Securities and Exchange Commission, which is referred to as the SEC, through
      the
      SEC&#8217;s website at www.sec.gov. Documents incorporated by reference are available
      from Access and Somanta without charge, excluding any exhibits to those
      documents, unless the exhibit is specifically incorporated by reference as
      an
      exhibit in this proxy statement/prospectus. Access stockholders and Somanta
      stockholders may request a copy of such documents by contacting the applicable
      department at: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                Pharmaceuticals, Inc.</font></div>
            </td>
            <td valign="top" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                Pharmaceuticals, Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2600
                Stemmons Freeway, Suite 176</font></div>
            </td>
            <td valign="top" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">19200
                Von Karman Avenue, Suite 400</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dallas,
                Texas 75207</font></div>
            </td>
            <td valign="top" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Irvine,
                California 92612</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Attn:
                Investor Relations</font></div>
            </td>
            <td valign="top" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Attn:
                Chief Financial Officer</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="35%">&#160;</td>
            <td valign="top" width="32%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, you may obtain copies of the information relating to Access, without
      charge, by sending an e-mail to akc@accesspharma.com or by calling (214)
      905-5100. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">You
      may
      obtain copies of the information relating to Somanta, without charge, by sending
      an e-mail to t.bruggeman@somanta.com or by calling (949) 477-8090. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      are
      not incorporating the contents of the websites of the SEC, Access, Somanta
      or
      any other person into this document. We are only providing the information
      about
      how you can obtain certain documents that are incorporated by reference into
      this proxy statement/prospectus at these websites for your convenience.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>In
      order for you to receive timely delivery of the documents in advance of the
      Somanta special meeting, Somanta should receive your request no later than
      [&#160;&#160;&#160; ], 2007. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="WIDTH: 100%" align="left">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
          </div>
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
          <div style="WIDTH: 100%" align="left">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
          </div>
        </div>
      </div><br><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SOMANTA
      PHARMACEUTICALS, INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>19200
      Von Karman Avenue, Suite 400</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Irvine,
      California 92612</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTICE
      OF SPECIAL MEETING OF STOCKHOLDERS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>TO
      BE HELD ON ______, 2007</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
      the
      Stockholders of Somanta Pharmaceuticals, Inc.: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      will hold a special meeting of stockholders of Somanta at Somanta&#8217;s principal
      executive offices located at 19200 Von Karman Ave., Suite 400, Irvine,
      California 92612, on ____day, _______, 2007, at 9:00 a.m. local time, to
      consider and vote upon a proposal to approve and adopt the Agreement and Plan
      of
      Merger, dated as of April 18, 2007, by and among Access Pharmaceuticals, Inc.,
      Somanta Acquisition Corporation, a wholly owned subsidiary of Access, and
      Somanta Pharmaceuticals, Inc., Somanta Incorporated and Somanta Limited and
      the
      merger contemplated by the merger agreement, pursuant to which Somanta
      Pharmaceuticals, Inc. would merge with Somanta Acquisition Corporation. Each
      outstanding share of Somanta common stock is expected to be converted into
      the
      right to receive approximately 0.032343 of a share of Access common stock,
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">not
      to
      exceed in the aggregate 500,000 shares of Access common stock, and each
      outstanding share of Somanta preferred stock, including accrued and unpaid
      dividends, is expected to be converted into the right to receive approximately
      1690.24045</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">shares
      of
      Access common stock, not to exceed in the aggregate 1,000,000 shares of Access
      common stock, and in each case</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">subject
      to adjustment as more </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">fully
      described in the attached</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      proxy
      statement/prospectus.</font></div>
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      stockholders will also be asked to consider and vote upon such other business
      as
      may properly come before the special meeting, or any adjournment or postponement
      of the special meeting. </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Approval
      and adoption of the merger agreement and the merger contemplated by the merger
      agreement, requires the affirmative vote of (i) the holders of a majority of
      the
      outstanding shares of Somanta common stock and Somanta Series A preferred stock,
      voting together as a single class on an as-converted basis, and (ii) the holders
      of a majority of the outstanding shares of Somanta Series A preferred stock,
      voting separately as a class.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Somanta board of directors has approved the merger agreement and the merger
      contemplated by the merger agreement, and recommends that you vote &#8220;FOR&#8221; the
      proposal to approve and adopt the merger agreement and the merger contemplated
      by the merger agreement, as described in this proxy statement/prospectus. In
      addition, Access has received voting agreements from certain Somanta
      stockholders representing approximately 85% of Somanta&#8217;s outstanding common
      stock and approximately 60% of its outstanding preferred stock, or 70.84% of
      Somanta&#8217;s outstanding voting stock on an as-converted basis, under which the
      parties, subject to certain limited exceptions, have granted an irrevocable
      proxy to Access to vote their shares in favor of the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Only
      Somanta stockholders of record at the close of business on _____, 2007, the
      record date for the special meeting, are entitled to notice of, and to vote
      at,
      the special meeting and any adjournments or postponements of the special
      meeting. A complete list of Somanta stockholders entitled to vote at the Somanta
      special meeting will be available for inspection at the executive offices of
      Somanta during regular business hours for a period of no less than ten days
      before the special meeting. You should be prepared to present photo
      identification for admittance to the special meeting (including adjournments
      or
      postponements). In addition, if you are a record holder, your name is subject
      to
      verification against the list of record holders on the record date prior to
      being admitted to the meeting. If you are not a record holder but hold shares
      through a broker or nominee (i.e., in &#8220;street name&#8221;), you should be prepared to
      provide proof of beneficial ownership on the record date, such as your most
      recent account statement prior to _______, 2007, or similar evidence of
      ownership. If you do not comply with the procedures outlined above, you may
      not
      be admitted to the special meeting. </font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Your
      vote
      is very important. If you are the record holder of your shares, whether or
      not
      you plan to attend the special meeting, please complete, date and sign the
      enclosed proxy card as soon as possible and return it in the postage-prepaid
      envelope provided to submit a proxy. If you hold your shares through a broker
      or
      nominee (i.e., in &#8220;street name&#8221;), whether or not you plan to attend the special
      meeting, please complete, sign and return the voting instruction form provided
      to you by the record holder of your shares. In addition, you should check the
      voting instruction form provided to you by the record holder of your shares
      to
      determine whether you will be able to submit voting instructions by fax.
      Submitting a proxy by fax or by mailing the enclosed proxy card will ensure
      your
      shares are represented at the special meeting, but will not prevent you from
      attending and voting in person at the special meeting. However, if you do not
      submit a proxy or voting instructions now, or if you do not vote in person
      at
      the special meeting, the effect will be the same as a vote against the proposal
      to approve and adopt the merger agreement and the merger contemplated by the
      merger agreement. For more detailed instructions on how to vote your shares,
      please refer to the section of this proxy statement/prospectus entitled &#8220;The
      Somanta Special Meeting&#8221; beginning on page 39. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">By
      Order
      of the Board of Directors, </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">TERRANCE
      J. BRUGGEMAN</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Executive
      Chairman of the Board of Directors and Secretary</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Pharmaceuticals, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        </div>
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
        <div style="WIDTH: 100%" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
        </div>
      </div>
    </div><br><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>TABLE
      OF CONTENTS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font></div>
    <div align="center">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="white">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;Page</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;QUESTIONS AND ANSWERS ABOUT THE
              MERGER </td>
            <td width="5%" bgcolor="#ffffff">&#160;1</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;SUMMARY</td>
            <td width="5%">&#160;5</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;The Companies</td>
            <td width="5%" bgcolor="#ffffff">&#160;5</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;The Merger</td>
            <td width="5%">&#160;8</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Access Board of Directors After the
              Merger</td>
            <td width="5%" bgcolor="#ffffff">&#160;8</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Ownership of Access After the Merger</td>
            <td width="5%">&#160;9</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Opinion of the Financial Advisor</td>
            <td width="5%" bgcolor="#ffffff">&#160;9</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Share Ownership of Directors and Executive
              Officers</td>
            <td width="5%">&#160;9</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Interests of Directors and Executive
              Officers of Somanta in the Merger</td>
            <td width="5%" bgcolor="#ffffff">&#160;9</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Dissenters&#8217; or Appraisal Rights</td>
            <td width="5%">&#160;10</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Conditions to Completion of the
              Merger</td>
            <td width="5%" bgcolor="#ffffff">&#160;10</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Regulatory Matters</td>
            <td width="5%">&#160;10</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Agreement to Complete the Merger</td>
            <td width="5%" bgcolor="#ffffff">&#160;11</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;No Solicitation</td>
            <td width="5%">&#160;11</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Termination of the Merger
              Agreement</td>
            <td width="5%" bgcolor="#ffffff">&#160;11</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Break-up Fees</td>
            <td width="5%">&#160;11</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Material United States Federal
              Income Tax Consequences of the Merger</td>
            <td width="5%" bgcolor="#ffffff">&#160;11</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Accounting Treatment</td>
            <td width="5%">&#160;12</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Risk Factors</td>
            <td width="5%" bgcolor="#ffffff">&#160;12</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Summary Selected Historical Financial Data</td>
            <td width="5%">&#160;12</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Selected Unaudited Pro Forma
              Condensed Combined Financial Data</td>
            <td width="5%" bgcolor="#ffffff">&#160;15</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Comparative Per Share Information</td>
            <td width="5%">&#160;16</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Comparative Per Share Market Price
              Data</td>
            <td width="5%" bgcolor="#ffffff">&#160;17</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;RISK FACTORS</td>
            <td width="5%" bgcolor="#ffffff">&#160;18</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Risks Relating to the Merger</td>
            <td width="5%" bgcolor="#ffffff">&#160;18</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Risks Relating to the Business of Access</td>
            <td width="5%">&#160;19</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Risks Relating to the Business of
              Somanta</td>
            <td width="5%" bgcolor="#ffffff">&#160;27</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;CAUTIONARY STATEMENT CONCERNING
              FORWARD-LOOKING STATEMENTS</td>
            <td width="5%" bgcolor="#ffffff">&#160;38</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;THE SOMANTA SPECIAL MEETING</td>
            <td width="5%" bgcolor="#ffffff">&#160;39</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Date, Time and Place</td>
            <td width="5%">&#160;39</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Purpose; Other Matters</td>
            <td width="5%" bgcolor="#ffffff">&#160;39</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Recommendation of the Somanta Board of Directors</td>
            <td width="5%">&#160;39</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Record Date; Outstanding Shares;
              Voting Rights</td>
            <td width="5%" bgcolor="#ffffff">&#160;39</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Admission to the Special Meeting</td>
            <td width="5%">&#160;39</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Quorum and Vote Required</td>
            <td width="5%" bgcolor="#ffffff">&#160;40</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Voting by Somanta Directors and Executive
              Officers</td>
            <td width="5%">&#160;40</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Voting Agreements</td>
            <td width="5%" bgcolor="#ffffff">&#160;40</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Voting; Proxies, Revocation</td>
            <td width="5%">&#160;40</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Abstentions and Broker Non-Votes</td>
            <td width="5%" bgcolor="#ffffff">&#160;41</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Postponements and Adjournments</td>
            <td width="5%">&#160;41</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%" bgcolor="#ffffff">&#160;Proxy Solicitation</td>
            <td width="5%" bgcolor="#ffffff">&#160;41</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">Assistance</td>
            <td width="5%">&#160;41</td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="#cceeff">
            <td width="95%">&#160;THE MERGER</td>
            <td width="5%">&#160;42</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Background of the Merger</td>
            <td width="5%">&#160;42</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;The Somanta Special Committee</td>
            <td width="5%">&#160;44</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">
              <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;Reasons
                for the Merger</div>
            </td>
            <td width="5%">&#160;45</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">
              <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;Mutual
                Reasons for the Merger</div>
            </td>
            <td width="5%">&#160;45</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;&#160;&#160; Access's Reason for the Merger </td>
            <td width="5%">&#160;45</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">
              <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;Somanta&#8217;s
                Reasons for the Merger</div>
            </td>
            <td width="5%">&#160;47</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;Recommendation of the Somanta Board of Directors</td>
            <td width="5%">&#160;49</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;No Opinion of-Financial Advisor</td>
            <td width="5%">&#160;50</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;Treatment of Somanta Options and Warrants</td>
            <td width="5%">&#160;50</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Material Closing Conditions to Merger</td>
            <td width="5%">&#160;51</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;Material United States Federal Income Tax
              Consequences of the Merger</td>
            <td width="5%">&#160;51</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Accounting Treatment</td>
            <td width="5%">&#160;54</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;Regulatory Matters</td>
            <td width="5%">&#160;54</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Dissenters&#8217; or Appraisal Rights</td>
            <td width="5%">&#160;54</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;Restrictions on Sales of Shares of Access Common
              Stock Received in the Merger </td>
            <td width="5%">&#160;57</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Interests of Executive Officers and Directors of
              Somanta in the Merger</td>
            <td width="5%">&#160;58</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;Indemnification: Directors&#8217; and Officers&#8217;
              Insurance</td>
            <td width="5%">&#160;58</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Employment of Somanta Executive Officers by Access
              after the Merger</td>
            <td width="5%">&#160;58</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;Executive Officer Severance Payments</td>
            <td width="5%">&#160;58</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;Legal Proceedings Regarding the Merger</td>
            <td width="5%">&#160;58</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;THE MERGER AGREEMENT</td>
            <td width="5%">&#160;59</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td width="95%">&#160;The Merger</td>
            <td width="5%">&#160;59</td>
          </tr>
          <tr bgcolor="#cceeff">
            <td width="95%">&#160;Closing and Effective Time of the Merger</td>
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          <tr bgcolor="white">
            <td width="95%">
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            <td width="5%">
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            <td width="5%">
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            <td width="5%">
              <div>&#160;80</div>
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            <td width="5%">&#160;</td>
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            <td width="5%">&#160;83</td>
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          <tr bgcolor="white">
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            <td width="5%">&#160;83</td>
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            <td width="5%">&#160;87</td>
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            <td width="5%">&#160;88</td>
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            <td width="5%">&#160;</td>
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            <td width="5%">&#160;91</td>
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            <td width="5%">&#160;</td>
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            <td width="5%">&#160;93</td>
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            <td width="5%">&#160;93</td>
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            <td width="5%">&#160;94</td>
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          <tr bgcolor="white">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
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            <td width="5%">&#160;95</td>
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            <td width="5%">&#160;97</td>
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            <td width="5%">&#160;98</td>
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          <tr bgcolor="white">
            <td width="95%">&#160;</td>
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            <td width="5%">&#160;</td>
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            <td width="5%">&#160;100</td>
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            <td width="5%">&#160;100</td>
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            <td width="5%">&#160;100</td>
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            <td width="5%">&#160;101</td>
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            <td width="5%">&#160;105</td>
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            <td width="5%">&#160;109</td>
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            <td width="5%">&#160;111</td>
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          <tr bgcolor="white">
            <td width="95%">&#160;</td>
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            <td valign="bottom" width="5%">&#160;111</td>
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          <tr bgcolor="white">
            <td width="95%">&#160;</td>
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            <td width="5%">&#160;113</td>
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            <td width="5%">&#160;114</td>
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          <tr bgcolor="white">
            <td width="95%">&#160;</td>
            <td width="5%">&#160;</td>
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          <tr bgcolor="white">
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            <td width="5%">&#160;116</td>
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            <td width="5%">&#160;117</td>
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            <td width="5%">&#160;118</td>
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          <tr bgcolor="white">
            <td width="95%">&#160;</td>
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            <td width="5%">&#160;137</td>
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            <td width="5%">&#160;138</td>
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          <tr bgcolor="white">
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            <td width="5%">&#160;139</td>
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          <tr bgcolor="white">
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            <td width="5%">&#160;222</td>
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            <td width="5%">&#160;224</td>
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            <td width="5%">&#160;231</td>
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            <td width="5%">&#160;232</td>
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            <td width="95%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Annex
              A Agreement and Plan of Merger</font></td>
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          <tr bgcolor="white">
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            <td width="5%">&#160;</td>
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            <td width="95%">&#160;Annex B Section 262 of the Delaware General
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>QUESTIONS
      AND ANSWERS ABOUT THE MERGER</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following are some questions that you, as a stockholder of Somanta, may have
      regarding the merger and the other matters being considered at the special
      meeting of Somanta stockholders and brief answers to those questions. Access
      and
      Somanta urge you to read carefully the remainder of this proxy
      statement/prospectus because the information in this section does not provide
      all the information that might be important to you with respect to the merger
      and the other matters being considered at the Somanta special meeting of
      stockholders. Additional important information is also contained in the annexes
      to and the documents incorporated by reference into this proxy
      statement/prospectus. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <tr valign="top" style="LINE-HEIGHT: 1.25;">
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Why
                am I receiving this proxy statement/prospectus?
                </strong></font></div>
            </td>
          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
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          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A.</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                and Somanta have agreed to the merger of Somanta with a wholly owned
                Subsidiary of Access under the terms of a merger agreement that is
                described in this proxy statement/prospectus. A copy of the merger
                agreement is attached to this proxy statement/prospectus as Annex
                A.
                </font></div>
            </td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      order
      to complete the merger, Somanta stockholders must approve and adopt the merger
      agreement and the merger contemplated by the merger agreement. Somanta will
      hold
      a special meeting of their stockholders to obtain this approval. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">No
      approval is required by the Access stockholders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
      proxy statement/prospectus contains important information about the merger,
      the
      merger agreement and the special meeting of the stockholders of Somanta, which
      you should read carefully. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Your
      vote
      is very important. We encourage you to vote as soon as possible. The enclosed
      voting materials allow you to vote your shares without attending Somant's
      special meeting. For more specific information on how to vote, please see the
      questions and answers for the Somanta stockholders below. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
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          <tr valign="top" style="LINE-HEIGHT: 1.25;">
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Why
                are Access and Somanta proposing the merger?
                </strong></font></div>
            </td>
          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A.</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                and Somanta both believe that the merger will provide substantial
                strategic and financial benefits to the stockholders of both companies
                because the merger will allow stockholders of both companies the
                opportunity to participate in a larger, more diversified company.
                They
                both also believe that the combination will create a stronger and
                more
                competitive developer of pharmaceutical products that we believe
                to be
                well positioned to create more stockholder value than either Access
                or
                Somanta could on its own. The Access and Somanta boards of directors
                also
                considered various negative factors including the debt of Access,
                the
                costs and challenges of integrating the businesses of Access and
                Somanta,
                and the risk that the potential benefits sought in the merger might
                not be
                fully realized. To review the reasons for the merger as well as the
                negative factors considered by the Access and Somanta boards of directors
                in greater detail, see &#8220;The Merger&#8212;Recommendation of the Somanta Board of
                Directors&#8221; beginning on page 49, &#8220;The Merger&#8212;Reasons for the Merger&#8221;
                beginning on page&#160;45 and &#8220;Risk Factors&#8212;Risks Relating to the Merger&#8221;
                beginning on page 18. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>What
                will happen in the merger?
</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A.</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                the merger, Somanta Acquisition Corporation, a wholly owned subsidiary
                of
                Access, will merge with Somanta, with Somanta surviving as a wholly
                owned
                subsidiary of Access. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>What
      consideration will Somanta stockholders receive in the merger?
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A.</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
                the proposed merger is completed, each outstanding share of Somanta
                common
                stock is expected to be converted into the right to receive approximately
                0.032343 of a share of Access common stock, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">not
                to exceed in the aggregate 500,000 shares of Access common stock,
                and each
                outstanding share of Somanta preferred stock, including accrued and
                unpaid
                dividends on such preferred stock, is expected to be converted into
                the
                right to receive approximately 1690.24045</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">shares
                of Access common stock, not to exceed in the aggregate 1,000,000
                shares of
                Access common stock, and in each case </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">subject
                to adjustment as more fully described in the attached proxy
                statement/prospectus. Each Somanta stockholder will receive cash
                for any
                fractional share of Access common stock that the stockholder would
                otherwise be entitled to receive in the merger after aggregating
                all
                fractional shares to be received by the stockholder.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">1</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>How
                will Access stockholders be affected by the merger and issuance of
                Access
                common stock in the merger?
</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">After
                the merger, Access stockholders will continue to own their existing
                shares
                of Access common stock. Accordingly, Access stockholders will hold
                the
                same number of shares of Access common stock that they held immediately
                prior to the merger. However, because Access will be issuing new
                shares of
                Access common stock to Somanta stockholders in the merger, each
                outstanding share of Access common stock immediately prior to the
                merger
                will represent a smaller percentage of the total number of shares
                of
                Access common stock outstanding after the merger. Based on the number
                of
                shares of Access and Somanta common stock outstanding on June 6,
                we expect
                that Access stockholders before the merger to hold approximately
                87.0% of
                the combined company, assuming conversion of Access&#8217;s existing convertible
                debt under existing terms. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>When
                do Access and Somanta expect the merger to be completed?
                </strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                and Somanta are working to complete the merger as quickly as practicable
                and currently expect that the merger would be completed in the third
                quarter of 2007 within two business days following the approval and
                adoption by the Somanta stockholders of the merger agreement and
                the
                merger contemplated by the merger
                agreement</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>What
                are the United States federal income tax consequences of the merger?
                </strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                expects the merger to qualify as a &#8220;reorganization&#8221; within the meaning of
                Section 368(a) of the Internal Revenue Code. If the merger qualifies
                as a
                &#8220;reorganization,&#8221; Somanta stockholders generally will not recognize a gain
                or loss for federal income tax purposes. No gain or loss will be
                recognized for federal income tax purposes by Somanta, Access, or
                Access
                stockholders as a result of the
                merger.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Tax
      matters are complicated, and the tax consequences of the merger to each Somanta
      stockholder will depend on the facts of each stockholder&#8217;s situation. Somanta
      stockholders are urged to read carefully the discussion in the section entitled
      &#8220;The Merger&#8212;Material United States Federal Income Tax Consequences of the
      Merger&#8221; beginning on page 51&#160;and to consult their tax advisors for a full
      understanding of the tax consequences of their participation in the merger.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Why
                are Access stockholders not voting?
</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                stockholders are not voting on the merger. The Access board of directors
                has approved the merger and the stockholders of Access are not required
                to
                approve this merger under Delaware law because Access is not a constituent
                party to the merger. The Access board of directors believes that
                the
                merger is advisable to and in the best interests of Access and its
                stockholders and unanimously recommends the proposal to issue shares
                of
                Access common stock in the merger. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>What
                are Somanta stockholders voting on?
</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                stockholders are voting on a proposal to approve and adopt the merger
                agreement and the merger contemplated by the merger agreement. The
                approval of this proposal by Somanta stockholders is a condition
                to the
                effectiveness of the merger. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>What
                vote of Somanta stockholders is required to approve and adopt the
                merger
                agreement and the merger contemplated by the merger agreement?
                </strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Approval
      and adoption of the merger agreement and the merger contemplated by the merger
      agreement, requires the affirmative vote of (i) the holders of a majority of
      the
      outstanding shares of Somanta common stock and Somanta Series A preferred stock,
      voting together as a single class on an as-converted basis, and (ii) the holders
      of a majority of the outstanding shares of Somanta Series A preferred stock,
      voting separately as a class. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>How
                does the Somanta board of directors recommend that Somanta stockholders
                vote? </strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                Somanta board of directors recommends that Somanta stockholders vote
&#8220;FOR&#8221;
                the proposal to approve and adopt the merger agreement and the merger
                contemplated by the merger agreement. The Somanta board of directors
                has
                determined that the merger agreement and the merger contemplated
                by the
                merger agreement are advisable, and fair to and in the best interests
                of
                Somanta and its stockholders. Accordingly, the Somanta board of directors
                has approved the merger agreement and the merger contemplated by
                the
                merger agreement. For a more complete description of the Recommendation
                of
                the Somanta board of directors, see &#8220;The Somanta Special
                Meeting&#8212;Recommendation of the Somanta Board of Directors&#8221; beginning on
                page 39. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>When
                and where will the special meeting of stockholders be held?
                </strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                Somanta special meeting will take place at the offices of Somanta
                Pharmaceuticals, Inc., located at 19200 Von Karman Avenue, Suite
                400,
                Irvine, California 92612, on ____day, ______, 2007, at 9:00 a.m.
                local
                time. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Who
                can attend and vote at the special meeting?
                </strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
                Somanta stockholders of record as of the close of business on _______,
                2007, the Somanta record date, are entitled to receive notice of
                and to
                vote at the Somanta special meeting. If you hold common stock, you
                may
                cast one vote for each share of Somanta common stock that you owned
                on the
                record date. If you hold Somanta&#8217;s preferred stock, you may cast one vote
                for each share of common stock into which your preferred stock is
                then
                convertible</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>What
                should I do now in order to vote on the proposals being considered
                at
                Somanta&#8217;s special meeting?
</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                stockholders of record as of the Somanta record date may vote by
                proxy by
                completing, signing, dating and returning the enclosed proxy card
                in the
                accompanying pre-addressed postage paid envelope or by submitting
                a proxy
                by fax by following the instructions on the enclosed proxy card.
                If you
                hold Somanta common stock in &#8220;street name,&#8221; which means your shares are
                held of record by a broker, bank or nominee, you must complete, sign,
                date
                and return the enclosed voting instruction form to the record holder
                of
                your shares with instructions on how to vote your shares. Please
                refer to
                the voting instruction form used by your broker, bank or nominee
                to see if
                you may submit voting instructions using the fax.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Additionally,
      you may also vote in person by attending Somanta&#8217;s special meeting. If you plan
      to attend Somanta&#8217;s special meeting and wish to vote in person, you will be
      given a ballot at the special meeting. Please note, however, that if your shares
      are held in &#8220;street name,&#8221; and you wish to vote at Somanta&#8217;s special meeting,
      you must bring a proxy from the record holder of the shares authorizing you
      to
      vote at the special meeting. Whether or not you plan to attend Somanta&#8217;s special
      meeting, you should submit your proxy card or voting instruction form as
      described in this proxy statement/prospectus. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>What
                will happen if I abstain from voting or fail to vote?
                </strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">An
                abstention occurs when a stockholder attends a meeting, either in
                person
                or by proxy, but abstains from voting.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">An
      abstention or the failure of a Somanta stockholder to vote or to instruct your
      broker to vote if your shares are held in &#8220;street name&#8221; will have the same
      effect as voting against the proposal to approve and adopt the merger agreement
      and the merger contemplated by the merger agreement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Can
                I change my vote after I have delivered my proxy?
                </strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Yes.
                If you are a holder of record, you can change your vote at any time
                before
                your proxy is voted at the special meeting by:
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;
      delivering a signed written notice of revocation to the Secretary of Somanta;
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;
signing
      and delivering a new, valid proxy bearing a later date; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;
      submitting another proxy by fax; or </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;
      attending the special meeting and voting in person, although your attendance
      alone will not revoke your proxy. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      your
      shares are held in &#8220;street name&#8221; you must contact your broker, bank or other
      nominee to change your vote. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>What
                should I do if I receive more than one set of voting materials for
                Somanta&#8217;s special meeting?
</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">You
                may receive more than one set of voting materials for Somanta&#8217;s special
                meeting, including multiple copies of this proxy statement/prospectus
                and
                multiple proxy cards or voting instruction forms. For example, if
                you hold
                your shares in more than one brokerage account, you will receive
                a
                separate voting instruction form for each brokerage account in which
                you
                hold shares. If you are a holder of record and your shares are registered
                in more than one name, you will receive more than one proxy card.
                Please
                complete, sign, date and return each proxy card and voting instruction
                form that you receive. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Am
                I entitled to appraisal rights?
</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
                Delaware law, holders of Somanta&#8217;s capital stock have the right to dissent
                from the merger and obtain payment in cash for the fair value of
                their
                shares of common stock or preferred stock, as the case may be, as
                determined by the Delaware Chancery Court, rather than the merger
                consideration. The fair value determined by the court could be more
                than,
                less than or equal to the value of the merger consideration. To exercise
                appraisal rights, Somanta stockholders must strictly follow the procedures
                prescribed by Delaware law. These procedures are summarized under
                the
                section entitled &#8220;The Merger-Dissenters&#8217; or Appraisal Rights&#8221; beginning on
                page 54. In addition, the text of the applicable provisions of Delaware
                General Corporation Law, or the DGCL, is included as Annex&#160;B to this
                proxy statement/prospectus. Any Somanta stockholder wishing to exercise
                appraisal rights is urged to consult with legal counsel before attempting
                to exercise those rights. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Holders
      of Access common stock are not entitled to appraisal rights in connection with
      the issuance of Access common stock in the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Q:</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Who
                can help answer my questions?
</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A:</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
                you have any questions about the merger or how to submit your proxy,
                or if
                you need additional copies of this proxy statement/prospectus or
                the
                enclosed proxy card or voting instructions, you should contact:
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Pharmaceuticals, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">19200
      Von
      Karman Avenue, Suite 400</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Irvine,
      California 92612</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Phone:
      (949) 477-8090</font></div>
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      t.bruggeman@somanta.com</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SUMMARY</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>The
      following is a summary that highlights information contained in this proxy
      statement/prospectus. This summary may not contain all of the information that
      may be important to you. For a more complete description of the merger agreement
      and the merger contemplated by the merger agreement, we encourage you to read
      carefully this entire proxy statement/prospectus, including the attached
      annexes. In addition, we encourage you to read the information incorporated
      by
      reference into this proxy statement/prospectus, which includes important
      business and financial information about Access and Somanta that has been filed
      with the SEC. You may obtain the information incorporated by reference into
      this
      proxy statement/prospectus without charge by following the instructions in
      the
      section entitled &#8220;Additional Information&#8212;Where You Can Find More Information&#8221;
beginning on page 232. </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Companies </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      Pharmaceuticals, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2600
      Stemmons Freeway, Suite 176</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dallas,
      Texas 75207</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(214)
      905-5100</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Access&#8217;
      Business</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      Pharmaceuticals, Inc. (&#8220;Access&#8221;) is a Delaware corporation. Access is an
      emerging biopharmaceutical company developing products for use in the treatment
      of cancer, the supportive care of cancer, and other disease states. Access&#8217;
product for the management of oral mucositis, MuGard&#8482;, has received marketing
      clearance by the FDA as a device. Access&#8217; lead clinical development program for
      the drug candidate ProLindac&#8482; (formerly known as AP5346) is in Phase II clinical
      testing. Access also has advanced drug delivery technologies including
      Cobalamin&#8482; mediated oral drug delivery and targeted delivery.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      with Access&#8217; subsidiaries, Access has proprietary patents or rights to one
      technology approved for marketing and three drug delivery technology
      platforms:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      MuGard&#8482; (mucoadhesive liquid technology),</font></div>
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      synthetic polymer targeted delivery,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cobalamin-mediated oral delivery, </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cobalamin-mediated targeted delivery.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Products</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      used its drug delivery technologies to develop the following products and
      product candidates:</font></div>
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    <div>
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            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
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            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Technology</strong></font></div>
            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Indication</strong></font></div>
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            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Clinical</strong></font></div>
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            </td>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="top" width="8%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="top" width="10%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="top" width="18%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="top" width="9%">&#160;</td>
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          <tr>
            <td align="left" valign="top" width="20%">
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            <td valign="bottom" width="1%">&#160;</td>
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            <td align="left" valign="top" width="20%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="8%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
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            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
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            <td valign="top" width="8%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
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            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="8%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
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            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
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          </tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;
      Licensed from the School of Pharmacy, The University of London. Subject to
      a 1%
      royalty and milestone payments on sales.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Somanta</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Pharmaceuticals, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">19200
      Von
      Karman Avenue, Suite 400</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Irvine,
      California 92612</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(949)
      477-8090</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Somanta&#8217;s
      Business</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      is a biopharmaceutical company engaged in the development of drugs primarily
      for
      the treatment of cancer. Somanta in-licenses substances designed for anti-cancer
      therapy in order to advance them along the regulatory and clinical pathway
      toward commercial approval. Somanta&#8217;s licenses are generally worldwide in scope
      and territory, with the exception of Somanta&#8217;s license for Sodium Phenylbutyrate
      which is worldwide, excluding U.S. and Canada. Somanta uses its expertise to
      manage and perform what Somanta believes are the most critical aspects of the
      drug development process which includes the design and conduct of clinical
      trials, the development and execution of strategies for the protection and
      maintenance of intellectual property rights and the interaction with drug
      regulatory authorities internationally. Somanta concentrates on drug development
      and engages in a very limited way in drug discovery, avoiding the significant
      investment of time and financial resources that is generally required before
      a
      compound is identified and brought into clinical trials. Somanta intends to
      out-source clinical trials, pre-clinical testing and the manufacture of clinical
      materials to experienced and qualified third parties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      was originally incorporated in New Jersey in 1991 under the name PRS I, Inc.
      Somanta subsequently changed its name to Service Lube, Inc., then to Fianza
      Commercial Corp. and then to Hibshman Optical Corp. Neither PRS I, Inc., nor
      Service Lube, Inc., nor Fianza Commercial Corp., nor Hibshman Optical Corp.,
      ever engaged in any active business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January 31, 2006, Somanta reincorporated in the State of Delaware under the
      name
      Somanta Pharmaceuticals, Inc. and acquired Somanta Incorporated through the
      merger of a wholly-owned subsidiary with and into Somanta Incorporated. Somanta
      Incorporated was formerly known as Bridge Oncology Products, Inc., which was
      formed on February 10, 2005. On August 22, 2005, Bridge Oncology Products,
      Inc.,
      entered into a Share Exchange Agreement with Somanta Limited, a company
      organized under the laws of England pursuant to which Somanta Limited became
      a
      wholly-owned subsidiary of Bridge Oncology Products, Inc., and Bridge Oncology
      Products, Inc., changed its name to Somanta Incorporated. Somanta Limited was
      formed on April 19, 2001.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prior
      to
      the date of the share exchange between Bridge Oncology Products, Inc., and
      Somanta Limited, each of Bridge Oncology Products, Inc., and Somanta Limited
      were engaged in a limited amount of business. Bridge Oncology Products, Inc.,
      was formed in February 2005, and in February 2005, it entered into the Sodium
      Phenylbutyrate Co-development and Sub-license Agreement with Virium
      Pharmaceuticals, Inc., to develop Sodium Phenylbutyrate outside of the U.S.
      and
      Canada for the treatment of cancer, autoimmune diseases and other clinical
      indications. It engaged in no other business during that period of
      time.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Although
      Somanta Limited was formed in April of 2001, its primary business prior to
      the
      date of the share exchange with Bridge Oncology Products, Inc., was to secure
      intellectual property rights to the various chemical entities that Somanta
      now
      desires to develop as product candidates. To that end, in November 2001, Somanta
      Limited entered into an Exclusive License Agreement with De Montfort University
      related to Somanta&#8217; drug development candidate, Alchemix. In January 2002,
      Somanta Limited entered into an Exclusive Patent and Know-how License and Option
      Agreement with Immunodex, Inc. covering its drug product candidates know as
      Phoenix and Angiolix. In October 2003, Somanta Limited entered into an agreement
      with the Cancer Research Institute of Contra Costa for the support of an
      academic human clinical trial for Phoenix. In March 2004, Somanta Limited
      entered into an Exclusive Patent and Know-how Assignment and License Agreement
      with the School of Pharmacy, University of London related to Somanta&#8217;s drug
      development candidate known as Prodrax. In March 2004, Somanta Limited entered
      into a Research and Development Agreement with The School of Pharmacy,
      University of London for the purpose of further developing Prodrax. In addition
      to securing the various intellectual property rights related to the agreements
      described above, in August of 2004, Somanta Limited also entered into a Research
      Collaboration and License Agreement with Advanced Cardiovascular Devices, LLC,
      pursuant to which Somanta Limited licensed Advanced Cardiovascular Devices,
      LLC,
      rights to Somanta&#8217;s drug development candidate,</font></div><br>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">6</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Alchemix,
      solely for use on drug eluting stents. In 2001 Somanta Limited entered into
      a
      shareholder and intellectual property rights agreement with Cypomics, Ltd.
      pursuant to which Somanta Limited was to fund a research and development program
      of Cypomics, Ltd. in exchange for a certain amount of capital stock of Cypomics,
      Ltd. However, neither party performed any of its obligations under the agreement
      and neither party is liable to the other party for any such failure to perform.
      In July 2005, this agreement was formally terminated.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
      current product candidate in academic-investigator-sponsored clinical
      development includes an anti-cancer agent&#160;(a small molecule) targeting four
      different tumors and/or stages of cancer. Somanta has three additional product
      development candidates (two small molecules and a monoclonal antibody) in
      pre-clinical development targeting eleven different tumor types.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table sets forth the eleven types of cancer targeted by each of
      Somanta&#8217;s current product development candidates:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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                Phenylbutyrate</font></div>
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                multiforme</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Alchemix</font></div>
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            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Products</strong></font></div>
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    <div>
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            <td valign="bottom" width="1%">&#160;</td>
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            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Indication</strong></font></div>
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            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Clinical</strong></font></div>
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                </strong></font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="top" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="top" width="10%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="top" width="18%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="top" width="9%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Sodium
                Phenylbutyrate </font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">National
                Institutes of Health</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Small
                molecule</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
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            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Academic
                Investigator Phase I</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Angiolix
                (huMc-3 mAb)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Immunodex,
                Inc.</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Humanized
                monoclonal antibody</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cancer</font></div>
            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Alchemix
                (chloroethylaminoanthraquinone)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">DeMontford
                University</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Small
                Molecule</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cancer</font></div>
            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prodrax
                (di-N-oxides of chloroethylaminoanthraquinone)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">School
                of Pharmacy, University of London</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Small
                Molecule</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
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            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">7</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      Merger (see page 42)</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      and Somanta have agreed to the acquisition of Somanta by Access under the terms
      of the merger agreement that is described in this proxy statement/prospectus.
      In
      the merger, Somanta Acquisition Corporation, a wholly owned subsidiary of
      Access, will merge with Somanta, with Somanta surviving as a wholly owned
      subsidiary of Access. We have attached the merger agreement to this proxy
      statement/prospectus as Annex A. We encourage you to carefully read the merger
      agreement in its entirety because it is the legal document that governs the
      merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Merger
      Consideration </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      the
      proposed merger is completed, the holders of Somanta&#8217;s common stock are expected
      to receive approximately 0.032343 of a share of Access common stock for each
      share of Somanta common stock they own immediately prior to completion of the
      merger not to exceed in the aggregate 500,000 of Access common stock, and the
      holders of Somanta&#8217;s preferred stock are expected to receive approximately
      1690.24045 shares of Access common stock for each share of Somanta preferred
      stock, including accrued and unpaid dividends, they own immediately prior to
      completion of the merger not to exceed in the aggregate 1,000,000 shares of
      Access common stock. In accordance with the Certificate of Designation of
      Somanta&#8217;s Series A preferred stock, holders of a majority of the Series A
      preferred stock of Somanta have acknowledged and agreed that if the stockholders
      of Somanta approve the Merger Agreement and the transactions contemplated
      thereby, then each share of preferred stock will be exchanged for common stock
      of Access and the rights, preferences and privileges associated with such Series
      A preferred stock will cease to exist as of the closing of the Merger. For
      a
      full description of a comparison of the rights of the Access common stock to
      the
      rights of the Somanta common stock and Series A preferred stock, see &#8220;Comparison
      of Stockholder Rights and Corporate Governance Matters&#8221; beginning on page 22.
      The merger is expected to qualify as a &#8220;reorganization&#8221; under the Internal
      Revenue Code. See &#8220;Risk Factors&#8212;Risks Relating to the Merger&#8221; beginning on page
      18. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      a
      full description of the merger consideration and the possible adjustment to
      the
      merger consideration, see &#8220;The Merger Agreement&#8212;Treatment of Securities&#8221;
beginning on page&#160;59. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Fractional
      Shares </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      will not issue fractional shares of Access common stock in the merger. As a
      result, each Somanta stockholder will receive cash for any fractional share
      of
      Access common stock the stockholder would otherwise be entitled to receive
      in
      the merger after aggregating all fractional shares to be received by the
      stockholder. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      a
      full description of the treatment of fractional shares, see &#8220;The Merger
      Agreement&#8212;Fractional Shares&#8221; beginning on page 60.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Treatment
      of Somanta Stock Options </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      outstanding option to purchase Somanta common stock will either convert upon
      exercise to common stock of Somanta before the merger or cease to exist after
      the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Treatment
      of Somanta Warrants</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      outstanding warrant to purchase a share of Somanta common stock, excluding
      outstanding warrants covering 1,166,534 shares of Somanta common stock which
      are
      held by SCO Capital Partners LLC or SCO Financial Group LLC and which will
      be
      exercised prior to the closing of the merger, will convert into a warrant to
      purchase 0.032343 shares of Access common stock at an adjusted exercise price
      utilizing the same exchange ratio.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      Board of Directors after the Merger </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Upon
      completion of the merger, the Access board of directors will be remain the
      same.
      The directors of Access prior to the completion of the merger will continue
      to
      serve as the directors of Access after the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">8</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Ownership
      of Access after the Merger </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Based
      on
      the number of shares of Access</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      common
      stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      and
      Somanta common stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      and
      preferred stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      outstanding on June 6, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007
      and
      without giving effect to any further issuances of shares of stock by Access:
      (i)
      holders of Somanta common stock are expected to hold approximately 4.3% of
      the
      fully diluted shares of Access common stock immediately after the merger, (ii)
      holders of Somanta preferred stock are expected to hold approximately 8.7%
      of
      the fully diluted shares of Access common stock immediately after the merger,
      and (iii) holders of Somanta common stock and preferred stock taken
      together</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      are
      expected to hold approximately 13.0% of the fully diluted shares of Access
      common stock immediately after the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      stockholders will continue to own their existing shares, which will not be
      affected by the merger. Access may issue additional shares of its equity
      securities prior to the closing of the merger and Somanta stockholders would
      be
      diluted in the case of any such issuances.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Opinion
      of Financial Advisor</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Somanta
      </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      special committee of</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      the
      Somanta board of director</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">s
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">did
      not
      engage a financial advisor to assist in the sale of Somanta or to render a
      financial opinion as to the fairness, from a financial point of view,
      of</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      the
      consideration to be </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">paid
      to
      the Somanta stockholders in the merger. The special committee determined that
      the factors which weighed in favor of the merger, as discussed below, were
      substantial in relation to the factors which weighed against the merger. The
      special committee also considered the cost of obtaining a fairness opinion
      as
      prohibitively expensive in light of Somanta&#8217;s financial condition.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Share
      Ownership of Directors and Executive Officers </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      the
      close of business on the Somanta record date, directors and executive officers
      of Somanta and their affiliates beneficially owned and were entitled to vote
      approximately 17,937,213&#160;shares of Somanta common stock (on an as-converted
      basis and after the exercise of certain warrants held by them), collectively
      representing approximately 70.84% of the shares of Somanta common stock (on
      an
      as-converted basis) outstanding on that date. SCO Capital Partners LLC, and
      its
      affiliates, are represented on Somanta&#8217;s Board of Directors and collectively
      control 44.52% of Somanta&#8217;s common stock and 55.6% of Somanta&#8217;s outstanding
      preferred stock or 48.82% of Somanta&#8217;s outstanding voting stock (on an
      as-converted basis). Lake End Capital, LLC are represented on Somanta&#8217;s board of
      directors and controls 5.09% of Somanta&#8217;s common stock and 4.23% of Somanta&#8217;s
      outstanding preferred stock. Walbrook Trustees (Jersey Ltd REK33), of which
      Agamemnon A Epenetos, Somanta&#8217;s President and Chief Executive Officer, is a
      beneficiary, is the beneficial owner of 25.03% of Somanta&#8217;s common stock or
      15.28% of Somanta&#8217;s outstanding voting stock (on an as-converted basis). Access
      has received voting agreements from certain Somanta stockholders representing
      approximately 85% of Somanta&#8217;s outstanding common stock and approximately 60% of
      its outstanding preferred stock or 70.84% of Somanta&#8217;s outstanding voting stock
      (on an as-converted basis) under which the parties, subject to certain limited
      exceptions, have granted an irrevocable proxy to Access to vote their shares
      in
      favor of the merger. A copy of the form of the Voting Agreement is attached
      as
      Annex C.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Interests
      of Directors and Executive Officers of Somanta in the Merger (see page 58)
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      considering the recommendation of the Somanta board of directors with respect
      to
      the merger agreement and the merger contemplated by the merger agreement, you
      should be aware that members of the Somanta board of directors and Somanta
      executive officers have interests in the merger contemplated by the merger
      agreement that may be different than, or in addition to, the interests of
      Somanta stockholders, generally. These interests include: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                continued indemnification of, and provision of directors&#8217; and officers&#8217;
                insurance coverage to, current directors and officers of Somanta
                following
                the merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;
      </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
      employment of certain executive officers of Somanta by Access upon completion
      of
      the merger; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                potential receipt of severance payments, payable to the following
                executive officers in the following respective amounts if he were
                to be
                terminated without cause or were to resign pursuant to an involuntary
                termination at any time following the completion of the merger:
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">9</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
      <div align="left">
        <table bgcolor="white" cellpadding="0" cellspacing="0" id="ftable" width="64%">

            <tr bgcolor="white">
              <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">&#160;<u>Name</u></td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td colspan="2" valign="bottom" width="21%" style="BORDER-BOTTOM: 4px">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;Total</div>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><u>Severance
                  Payments</u></div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">&#160;Agamemnon
                A. Epenetos, MD, PhD</td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">$</td>
              <td align="right" valign="bottom" width="20%" style="BORDER-BOTTOM: 4px">275,000</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr bgcolor="white">
              <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">&#160;Terrance
                J. Bruggeman</td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="20%" style="BORDER-BOTTOM: 4px">248,000</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                Jeffrey Davis is a director of both Somanta and Access and that Mr.
                Davis
                is also an affiliate of SCO Capital an entity that is a secured lender
                to
                Access and that beneficially owns 44.52% of Somanta&#8217;s common stock and
                74.1% of Access&#8217; common stock.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
                Mr. Davis and Mark Alvino, who is also an affiliate of SCO, are each
                also
                directors of Access and Mr. Davis is the Chairman of the Board of
                Access.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      of
      the Somanta and Access boards of directors were aware of these interests and
      considered them, among other matters, in making their
      recommendations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Dissenters&#8217;
      or Appraisal Rights (see page 54) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Holders
      of shares of Somanta common stock or preferred stock who do not vote in favor
      of
      approval and adoption of the merger agreement and approval of the merger and
      who
      properly demand appraisal of their shares will be entitled to appraisal rights
      in connection with the merger under Section 262 of the DGCL. Under the DGCL,
      holders of shares of Access common stock are not entitled to appraisal rights
      in
      connection with the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Merely
      voting against the merger will not preserve the right of Somanta stockholders
      to
      appraisal under the DGCL. Also, because a submitted proxy not marked &#8220;against&#8221;
or &#8220;abstain&#8221; will be voted &#8220;FOR&#8221; the proposal to approve and adopt the merger
      agreement and the merger contemplated by the merger agreement, the submission
      of
      a proxy not marked &#8220;against&#8221; or &#8220;abstain&#8221; will result in the waiver of appraisal
      rights. Somanta stockholders who hold shares in the name of a broker or other
      nominee must instruct their nominee to take the steps necessary to enable them
      to demand appraisal of their shares. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Annex
      B
      to this proxy statement/prospectus contains the full text of Section 262 of
      the
      DGCL, which relates to the rights of appraisal. We encourage you to read these
      provisions carefully and in their entirety. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_14"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Conditions
      to Completion of the Merger (see page 66) </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      number
      of conditions must be satisfied before the merger will be completed. These
      include among others: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                approval and adoption of the merger agreement and the merger contemplated
                by the merger agreement by Somanta stockholders;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                absence of any legal restraints or prohibitions preventing the completion
                of the merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                Access has received a favorable fairness opinion of TSG Partners
                to the
                effect that the payment by it of the merger consideration is fair
                to
                Access&#8217; stockholders from a financial point of
                view;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                representations and warranties of each party contained in the merger
                agreement being true and correct, except to the extent that breaches
                of
                these representations and warranties would not result in a material
                adverse effect on the representing party;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                performance or compliance in all material respects of each party
                with all
                agreements and covenants contained in the merger agreement at the
                completion of the merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                absence of events or developments since the date of the merger agreement
                that would reasonably be expected to have a material adverse effect
                with
                respect to either party; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                as of the completion of the merger all of Somanta&#8217;s liabilities, including
                accounts payables and amounts owed to officers and employees, shall
                not
                exceed $1,000,000 in the aggregate.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      of
      Access, Somanta Acquisition Corporation and Somanta may waive the conditions
      to
      the performance of its respective obligations under the merger agreement and
      complete the merger even though one or more of these conditions has not been
      met. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Regulatory
      Matters (see page 54) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      merger is not subject to antitrust laws or any federal or state regulatory
      requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">10</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="toc46264_17"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Reasonable
      Best Efforts to Complete the Merger (see page 66) </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      of
      Access and Somanta has agreed to cooperate fully with the other party and use
      its reasonable best efforts to take, or cause to be taken, all actions
      necessary, proper or advisable under applicable law and regulations to complete
      the merger as promptly as practicable, but in no event later than August 31,
      2007. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>No
      Solicitation</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      merger agreement contains detailed provisions that prohibit Somanta and its
      subsidiaries, and their officers, directors agents, representatives and advisors
      from taking any action to solicit or engage in discussions or negotiations
      with
      any person or group with respect to an acquisition proposal as defined in the
      merger agreement, including an acquisition that would result in the person
      or
      group acquiring more than a 33.33% interest in the party&#8217;s total outstanding
      securities, a sale of more than 33.33% of the party&#8217;s assets or a merger or
      other business combination. The merger agreement does not, however, prohibit
      either party or its board of directors from considering and recommending to
      the
      party&#8217;s stockholders an unsolicited acquisition proposal from a third party if
      specified conditions are met. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_18"/><a name="toc46264_19"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Termination
      of the Merger Agreement (see page 68) </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      circumstances specified in the merger agreement, either Access or Somanta may
      terminate the merger agreement. Subject to the limitations set forth in the
      merger agreement, the circumstances generally include if: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                other party consents to termination;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                merger is not completed by August 31, 2007, unless extended by mutual
                agreement;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">either
                party if any governmental authority shall have issued an order, decree,
                or
                ruling or taken any other action permanently enjoining restraining,
                or
                otherwise prohibiting the merger and such order, decree, ruling,
                or other
                action shall have become final and nonappealable;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                required approval of the stockholders of Somanta has not been obtained
                at
                its special meeting; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                other party breaches its representations, warranties or covenants
                in the
                merger agreement such that its conditions to completion of the merger
                regarding representations, warranties or covenants would not be satisfied;
                or </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                other party has not complied with the provisions of the merger agreement
                relating to non-solicitation and board
                recommendations.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_20"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Break-up
      Fees (see page 68) </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      the
      merger is not completed under certain circumstances specified in the merger
      agreement, Somanta may be required to pay Access expenses in the amount of
      up to
      $750,000 and a break-up fee of $750,000. If the merger is not completed under
      certain circumstances specified in the merger agreement, Access may be required
      to pay Somanta expenses in the amount of up to $100,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_21"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Material
      United States Federal Income Tax Consequences of the Merger (see page 51)
</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      expects the merger to qualify as a &#8220;reorganization&#8221; within the meaning of
      Section 368(a) of the Internal Revenue Code. If the merger qualifies as a
&#8220;reorganization,&#8221; Somanta stockholders generally will not recognize a gain or
      loss for federal income tax purposes. No gain or loss will be recognized for
      federal income tax purposes by Somanta, Access, or Access stockholders as a
      result of the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Tax
      matters are complicated, and the tax consequences of the merger to each Somanta
      stockholder will depend on the facts of each stockholder&#8217;s situation. Somanta
      stockholders are urged to read carefully the discussion in the section entitled
      &#8220;The Merger&#8212;Material United States Federal Income Tax Consequences of the
      Merger&#8221; and to consult their tax advisors for a full understanding of the tax
      consequences of their participation in the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">11</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_22"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Accounting
      Treatment (see page 54) </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      will account for the merger as a business combination under United States
      generally accepted accounting principles. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Risk
      Factors </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      evaluating the merger agreement and the merger, in the case of Somanta
      stockholders, or the issuance of shares of Access common stock in the merger,
      you should carefully read this proxy statement/prospectus and especially
      consider the factors discussed in the section entitled &#8220;Risk Factors&#8221; beginning
      on page 18. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_24"/>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_26"/><a name="toc46264_27"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Summary
      Selected Historical Financial Data </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      and Somanta are providing the following information to aid you in your analysis
      of the financial aspects of the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Access</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      selected consolidated financial data below as of and for each of the years
      in
      the five-year period ended December&#160;31, 2006 has been derived from Access&#8217;
consolidated financial statements. The information is only a summary and should
      be read in conjunction with Access consolidated financial statements,
      accompanying notes and management&#8217;s discussion and analysis of results of
      operations and financial condition, all of which can be found in publicly
      available documents, including those incorporated by reference into this proxy
      statement/prospectus. See &#8220;Additional Information&#8212;Where You Can Find More
      Information&#8221; beginning on page&#160;232. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
    </div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" colspan="13" valign="bottom" width="53%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><br>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
                  the Years Ended December 31,</font></div>
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">2006&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">2005&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">2004&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">2003&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">2002&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">
              <div>&#160;</div>
            </td>
            <td align="right" colspan="13" valign="bottom" width="53%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(In
                  thousands, except per share data)</strong></font></div>
              </div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Consolidated
              Statement of </strong></font>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Operations
                and Comprehensive </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Loss
                Data:</strong></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                revenues</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">89</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Operating
                loss</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,175</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(9,622</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,003</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,426</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,925</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
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            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">294</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">100</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">226</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">594</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and other expense</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,436</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,100</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,385</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,281</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,278</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Unrealized
                loss</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,107</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
                tax benefit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">173</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,067</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from continuing operations</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(13,251</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,555</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,162</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,428</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,520</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discontinued
                operations net of taxes ($173 in 2006 and $4,067 in 2005)</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">377</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,855</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,076</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(507</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,864</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(12,874</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,700</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(10,238</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,935</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(9,384</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                Stock Data: (2)</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss per basic and diluted </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">common
                share</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3.65</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(0.53</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3.38</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2.61</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3.58</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted
                average basic and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">diluted
                common shares</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">outstanding</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,532</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,237</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,032</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,653</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,621</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
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      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">12</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>
      <div>
      </div>
      <div>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

            <tr>
              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td colspan="14" valign="bottom" width="54%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">As
                  of December 31,</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2006</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
              <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2005</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
              <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2004</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
              <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2003</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
              <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2002</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" colspan="4" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" colspan="11" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;(<strong>In
                  thousands)</strong></div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" colspan="5" valign="bottom" width="56%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>Consolidated
                  Balance Sheet Data:</strong></div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Cash,
                  cash equivalents and </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">short
                  term investments</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">4,389</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">474</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2,261</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2,587</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">9,776</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Restricted
                  cash</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">103</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,284</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">649</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">468</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Total
                  assets</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">6,426</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">7,213</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">11,090</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">11,811</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">19,487</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Deferred
                  revenue</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">173</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">173</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,199</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,184</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,199</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Convertible
                  notes, net of discount</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">8,833</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">7,636</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">13,530</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">13,530</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">13,530</div>
              </td>
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              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
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              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">16,313</div>
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              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">11,450</div>
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              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">17,751</div>
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              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">17,636</div>
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              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">18,998</div>
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              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
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                  stockholders' equity (deficit)</div>
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              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(9,887</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
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              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(4,237</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(6,661</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(5,825</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">489</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>

        </table>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
                data has been adjusted for discontinued operations and sales of assets.
                The discontinued operations relate to the sale of Access&#8217; oral care and
                dermatology business to Uluru, Inc. and the closing and sale of the
                Access&#8217; Australian laboratory described more fully in &#8220;Management&#8217;s
                Discussion and Analysis or Plan of Operations&#8221; appearing elsewhere in this
                Prospectus.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
                shares and per share information reflect a one for five reverse stock
                split effected June 5, 2006.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">13</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Somanta</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      has derived the following historical information from Somanta audited
      consolidated financial statements from inception through the fiscal year ended
      April 30, 2006 contained in Somanta&#8217;s annual reports on Form&#160;10-KSB. The
      information is only a summary and should be read in conjunction with Somanta&#8217;s
      consolidated financial statements and accompanying notes, as well as
      management&#8217;s discussion and analysis of results of operations and financial
      condition, all of which can be found in publicly available documents, including
      those incorporated by reference into this proxy statement/prospectus. See
&#8220;Additional Information&#8212;Where You Can Find More Information&#8221; beginning on page
      232. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>
      <div>
        <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td colspan="8" valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">For
                  the Years Ended April 30,</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2006</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2005</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
              <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2004</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td colspan="8" valign="bottom" width="39%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>(In
                  thousands, except per share
                  data)</strong></div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>Consolidated
                  Statement of Operations and Comprehensive
                  Loss Data </strong></div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Total
                  revenues</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;$</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">-&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Operating
                  loss</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(4,108</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,129</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(258</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Interest
                  and miscellaneous income</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">17</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Interest
                  and other expense</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(908</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Income
                  tax </div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Net
                  loss</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(5,002</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,129</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(258</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Deemed
                  dividends on convertible preferred stock</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,522</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Net
                  loss applicable to common shareholders</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(6,524</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,129</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(258</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Comprehensive
                  loss-foreign currency translation
                  adjustment</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(6)</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">-</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Comprehensive
                  loss</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(6,524</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,135</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(258</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Common
                  Stock Data: </div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Net
                  loss per basic and diluted </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">common
                  share</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(0.47</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(0.20</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
              </td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(0.00</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Weighted
                  average basic and</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">diluted
                  common shares</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">outstanding</div>
              </td>
              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">14,274,365</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">5,576,845</div>
              </td>
              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">70,119,873</div>
              </td>
              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            </tr>

        </table>
      </div>
    </div>
    <div align="left">
    </div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="81%">

          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" colspan="4" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">As
                of April&#160;30, &#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">2006&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">2005&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" colspan="4" valign="bottom" width="25%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong>(In
                thousands)</strong></div>
            </td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;&#160;
                <strong>Consolidated Balance </strong></div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><strong>&#160;&#160;
                Sheet Data</strong></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" colspan="4" valign="bottom" width="25%">&#160;</td>
            <td align="left" valign="bottom" width="2%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash,
                cash equivalents and </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">short
                term investments</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,588</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">103</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Restricted
                cash</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">152</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                assets</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,859</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">179</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,443</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">378</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Convertible
                notes, net of discount</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">-&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,443</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">378</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                stockholders' equity (deficit)</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,585</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(199</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">14</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Selected
      Unaudited Pro Forma Condensed Combined Financial Data </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following unaudited pro forma condensed combined financial statements are based
      upon the historical condensed consolidated financial statements and notes
      thereto (as applicable) of Access and Somanta, which are included elsewhere
      in
      this proxy statement/prospectus. The financial data gives pro forma effect
      to
      the merger as if the merger had been completed on January 1, 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      preferred and common stockholders are expected to receive 1,500,000 shares
      of
      Access common stock for Somanta capital stock they own&#160;immediately prior to
      the&#160;completion of the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      pro
      forma adjustments are based upon available information and certain assumptions
      that Access believes are reasonable under the circumstances. A final
      determination of fair values relating to the merger, which cannot be made prior
      to the completion of the merger, may differ materially from the preliminary
      estimates and will include management&#8217;s final valuation of the fair value of
      assets acquired and liabilities assumed. This final valuation will be based
      on
      the actual net tangible assets of Somanta that exist as of the date of the
      completion of the merger. The final valuation may change the allocations of
      the
      purchase price, which could affect the fair value assigned to the assets and
      liabilities and could result in a change to the unaudited pro forma condensed
      combined financial statements data. These adjustments are more fully described
      in the notes to the unaudited pro forma condensed combined financial statements
      under the heading &#8220;Unaudited Pro Forma Condensed Combined Financial Statements.&#8221;
beginning on page 219. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      selected unaudited pro forma condensed combined financial data (i) have been
      derived from and should be read in conjunction with the unaudited pro forma
      condensed combined financial statements and accompanying notes included in
      this
      proxy statement/prospectus as described under &#8220;Unaudited Pro Forma Condensed
      Combined Financial Statements&#8221; beginning on page 219, and (ii) should be read in
      conjunction with the consolidated financial statements of Access and Somanta
      and
      other information filed by Access and Somanta with the SEC and incorporated
      by
      reference into this proxy statement/prospectus. See &#8220;Additional
      Information&#8212;Where You Can Find More Information&#8221; beginning on page 232.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="90%">

          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Unaudited
                Pro Forma Condensed Combined </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Consolidated
                Statement</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>of
                Operations Data:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="19%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;
              </font>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>For
                the Twelve </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Months
                Ended </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>December
                31, 2006</strong></font></div>
            </td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>For
                the Three </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Months
                Ended </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>March
                31, 2007</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="19%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(in
                thousands)</strong></font></font></div>
            </td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="20%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(in
                thousands)</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                revenues</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></font></td>
            <td width="19%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1</font></font></div>
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            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                expenses</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">9,929</font></font></div>
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            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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            <td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,291</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from operations</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="19%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(9,928</font></font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,291</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and miscellaneous income</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="19%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">337</font></font></div>
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            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">37</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and other expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="19%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,436</font></font></div>
            </td>
            <td width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,535</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
                in fair value of warrant </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="19%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,350</font></font></div>
            </td>
            <td width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,775</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss before discontinued</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">operations
                and before tax benefit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;
              </font>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="right"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(20,416</font></div>
            </td>
            <td width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,565</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
                tax benefit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="right"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">171</font></div>
            </td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from continuing operations</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="17%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(20,245</font></font></div>
            </td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,565</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discontinued
                operations, net of</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">taxes
                of $173,000</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="17%">
              <div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">377</font></div>
              </div>
            </td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
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            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(19,868</font>&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,565</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">15</font></div>
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      <div id="HDR">
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          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Unaudited
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            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>As
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="50%">&#160;</td>
            <td width="2%">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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            <td align="right" valign="bottom" width="15%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong>(in
                thousands)</strong></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
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            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
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            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
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            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Short
                term investments, at cost</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,724</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                current assets</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,939</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%">&#160;Property and equipment,
              net</td>
            <td width="2%">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="15%">&#160;225</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patents
                net</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">836</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                assets</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,042</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounts
                payables and accrued expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,452</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                portion of long-term debt net of discount</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">10,794</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Long-term
                debt</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">22,007</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Additional
                paid-in capital</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">75,576</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notes
                receivable from stockholders</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,045</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accumulated
                deficit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(91,542</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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          <tr>
            <td align="left" valign="bottom" width="50%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                stockholders&#8217; deficit</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(16,965</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Comparative
      Per Share Information </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following tables set forth historical per share information of Access and
      Somanta and unaudited pro forma condensed combined per share information after
      giving effect to the merger under the purchase method of accounting, based
      on an
      average price per share of Access common stock of $5.00. The unaudited pro
      forma
      combined financial data are not necessarily indicative of the financial position
      had the merger occurred on December 31, 2006, or operating results that would
      have been achieved had the merger been in effect as of January 1, 2006 and
      should not be construed as representative of future financial position or
      operating results. The unaudited pro forma condensed combined per share
      information is derived from, and should be read in conjunction with, the
      unaudited pro forma condensed combined financial statements and accompanying
      notes included in this proxy statement/prospectus as described under &#8220;Unaudited
      Pro Forma Condensed Combined Financial Statements&#8221; beginning on page 219. The
      historical per share information is derived from the audited financial
      statements as of and for the years ended December 31, 2006 and 2005 for Access.
      The historical per share information is derived from the audited financial
      statements as of and for the years ended April 30, 2006 and 2005&#160;and the
      unaudited financial statements for the periods ended January 3, 2007 and 2006
      for Somanta.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div>
        <table border="0" cellpadding="0" cellspacing="0" width="87%" style="WIDTH: 87.5%; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 0in 0in 0in">

            <tr>
              <td valign="top">
                <div>&#160;</div>
              </td>
              <td valign="bottom">
                <div>&#160;</div>
              </td>
              <td colspan="3" valign="bottom" width="0">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Historical
                  </font></div>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#160;</font></div>
              </td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Historical</font></div>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta</font></div>
              </td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Pro
                  Forma</font></div>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Combined</font></div>
              </td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Pro
                  Forma</font></div>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Equivalent
                  of</font></div>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">One
                  Somanta</font></div>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Share
                  (1)</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                  earnings (loss) per share&#8212;basic and diluted:</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Three
                  Months ended March 31, 2007 (2)</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1.17</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">)</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.25)</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">$</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">(1.50)</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">$</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">(0.05)</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Year
                  ended December 31, 2006 (3)</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3.65</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.53)</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">(3.95)</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">(0.13)</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Book
                  value per share:</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">March
                  31, 2007 (2)</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3.88</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">)</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.49)</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">$</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">(3.37)</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">$</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">(0.11)</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                  31, 2006 (3)</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2.80</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">)</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.11)</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">(4.69)</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">(0.15)</div>
              </td>
            </tr>
            <tr>
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
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                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
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            <tr>
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                  shares (in millions):</font></div>
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
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                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.5</font></div>
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14.3</font></div>
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                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5.0</font></div>
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                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
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              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
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                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
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              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
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              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
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                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5.0</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="#cceeff" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <table border="0" cellpadding="0" cellspacing="0" width="100%" style="WIDTH: 100%; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 0in 0in 0in">

            <tr>
              <td valign="top" width="4%" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 4%; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">(1)</div>
              </td>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">The Pro Forma Equivalent of one
                  Somanta
                  Share amounts were calculated by applying the exchange ratio
                  of&#160;.032343 to the pro forma combined net earnings and book value per
                  share. The actual exchange ratio in the merger is subject to change.
                  </div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="4%" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 4%; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">(2)</div>
              </td>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">Three months ended January 31,
                  2007 for
                  Somanta</div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="4%" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 4%; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">(3)</div>
              </td>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">Twelve months ended January31,
                  2007 for
                  Somanta</div>
              </td>
            </tr>

        </table>
        <div style="TEXT-ALIGN: justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">16</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
      information is only a summary and should be read in conjunction with the
      financial statements and accompanying notes of Access and Somanta contained
      in
      the annual reports and other information that has been filed with the SEC and
      incorporated by reference into this proxy statement/prospectus and with the
      unaudited pro forma condensed combined financial statements referred to above.
      See &#8220;Additional Information&#8212;Where You Can Find More Information&#8221; beginning on
      page 232. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Comparative
      Per Share Market Price Data </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      common stock trades on the OTC Bulletin Board under the symbol &#8220;ACCP.&#8221; Somanta
      common stock trades on the OTC Bulletin Board under the symbol &#8220;SMPM.&#8221; The
      following table sets forth the closing prices for Access common stock and
      Somanta common stock as reported on the OTC Bulletin Board on February 21,
      2007,
      the last trading day before Access and Somanta announced the merger,
      and&#160;June 6, 2007 the last trading day before the date of this proxy
      statement/ prospectus. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="30%">&#160;</td>
            <td align="left" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="middle" width="8%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="middle" width="8%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="middle" width="14%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td colspan="2" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Common&#160;Stock</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td colspan="2" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Common&#160;Stock</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td colspan="2" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Pro&#160;Forma&#160;Equivalent&#160;Value</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>of
                Somanta Common Stock</strong></font></div>
            </td>
          </tr>
          <tr bgcolor="#cceeff">
            <td align="left" valign="top" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">February
                21, 2007</font></div>
            </td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$8.25</font></div>
            </td>
            <td align="right" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$1.10</font></div>
            </td>
            <td align="right" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$0.27</font></div>
            </td>
            <td align="right" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td align="left" valign="top" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">June&#160;6,
                2007</font></div>
            </td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$5.20</font></div>
            </td>
            <td align="right" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$0.29</font></div>
            </td>
            <td align="right" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$0.17</font></div>
            </td>
            <td align="right" valign="bottom" width="1%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      above
      tables show only historical comparisons. These comparisons may not provide
      meaningful information to Somanta stockholders in determining whether to approve
      and adopt the merger agreement and approve the merger contemplated by the merger
      agreement. See &#8220;Additional Information&#8212;Where You Can Find More Information&#8221;
beginning on page 232. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">17</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>RISK
      FACTORS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>In
      addition to the other information included in this proxy statement/prospectus,
      including the matters addressed in &#8220;Cautionary Statement Concerning
      Forward-Looking Statements,&#8221; you should carefully consider the following risks
      before deciding whether to vote for approval and adoption of the merger
      agreement and the merger contemplated by the merger agreement, in the case
      of
      Somanta stockholders. </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_31a"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Risks
      Relating to the Merger </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Although
      Access and Somanta expect that the merger will result in benefits to the
      combined company, the combined company may not realize those benefits because
      of
      integration and other challenges. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      ability to realize the anticipated benefits of the merger will depend, in part,
      on the ability of Access to integrate the business of Somanta with the business
      of Access. The combination of two independent companies is a complex, costly
      and
      time-consuming process. This process may disrupt the business of either or
      both
      of the companies, and may not result in the full benefits expected by Access
      and
      Somanta. The difficulties of combining the operations of the companies include,
      among others: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">unanticipated
                issues in integrating information, communications and other systems;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">retaining
                key employees; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">consolidating
                corporate and administrative infrastructures;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                diversion of management&#8217;s attention from ongoing business concerns; and
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">coordinating
                geographically separate organizations.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      cannot
      assure you that the combination of Somanta with Access will result in the
      realization of the full benefits anticipated from the merger. For a full
      description of the benefits anticipated from the merger, see &#8220;The Merger&#8212;Reasons
      for the Merger&#8221; beginning on page 45. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>If
      the proposed merger is not completed, Access and Somanta will have incurred
      substantial costs that may adversely affect Access&#8217; and Somanta&#8217;s financial
      results and operations and the market price of Access and Somanta common stock.
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      and Somanta have incurred and will incur substantial costs in connection with
      the proposed merger. These costs are primarily associated with the fees of
      attorneys, accountants and Access&#8217; financial advisors. In addition, Access and
      Somanta have each diverted significant management resources in an effort to
      complete the merger and are each subject to restrictions contained in the merger
      agreement on the conduct of its business. If the merger is not completed, Access
      and Somanta will have incurred significant costs, including the diversion of
      management resources, for which each will have received little or no benefit.
      Also, if the merger is not completed under certain circumstances specified
      in
      the merger agreement, Somanta may be required to pay Access&#8217; expenses in the
      amount of up to $750,000 and Access may be required to pay Somanta&#8217;s expenses in
      the amount of up to $100,000. Somanta could also be required to pay a break-up
      fee of $750,000. See &#8220;The Merger Agreement&#8212;Termination; Break-Up Fees and
      Expenses&#8221; beginning on page 68. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, if the merger is not completed, Access and Somanta may experience
      negative reactions from the financial markets and Access&#8217; and Somanta&#8217;s
      collaborative partners, customers and employees. Each of these factors may
      adversely affect the trading price of Access and/or Somanta common stock and
      Access&#8217; and/or Somanta&#8217;s financial results and operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">18</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Certain
      directors and executive officers of Somanta have interests in the merger that
      may be different from, or in addition to, the interests of Somanta stockholders.
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">When
      considering the Somanta board of directors&#8217; recommendation that Somanta
      stockholders vote in favor of the proposal to approve and adopt the merger
      agreement and the merger contemplated by the merger agreement, Somanta
      stockholders should be aware that some directors and executive officers of
      Somanta have interests in the merger that may be different from, or in addition
      to, the interests of Somanta stockholders. These interests include the continued
      indemnification and insurance coverage of officers and directors of Somanta
      following the merger, the employment of certain executive officers of Somanta
      by
      Access upon completion of the merger, and the potential for severance payments
      to Somanta&#8217;s executive officers under change of control agreements, and the fact
      that Mr. Davis is a director of both Somanta and Access and is also an affiliate
      of SCO Capital, an entity that owns 48.82% of Somanta&#8217;s common stock (on an
      as-converted basis) and 74.1% of Access&#8217; common stock and is the holder of $6.0
      million of Access secured convertible debt. As a result of these interests,
      these directors and officers could be more likely to vote to approve and adopt
      the merger agreement and the merger contemplated by the merger agreement than
      if
      they did not hold these interests, and may have reasons for doing so that are
      not the same as the interests of other Somanta stockholders. For a full
      description of the interests of directors and executive officers of Somanta
      in
      the merger, see &#8220;The Merger&#8212;Interests of Executive Officers and Directors of
      Somanta in the Merger&#8221; beginning on page 58. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="toc46264_31b"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Risks
      Relating to the Business of Access</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Although
      Access and Somanta expect that the merger will result in benefits to the
      combined company, the combined company may not realize those benefits because
      of
      integration and other challenges. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      ability to realize the anticipated benefits of the merger will depend, in part,
      on the ability of Access to integrate the business of Somanta with the business
      of Access. The combination of two independent companies is a complex, costly
      and
      time-consuming process. This process may disrupt the business of either or
      both
      of the companies, and may not result in the full benefits expected by Access
      and
      Somanta. The difficulties of combining the operations of the companies include,
      among others: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">unanticipated
                issues in integrating information, communications and other systems;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">retaining
                key employees; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">consolidating
                corporate and administrative infrastructures;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                diversion of management&#8217;s attention from ongoing business concerns; and
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">coordinating
                geographically separate organizations.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      cannot
      assure you that the combination of Somanta with Access will result in the
      realization of the full benefits anticipated from the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Without
      obtaining adequate capital funding, Access may not be able to continue as a
      going concern.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      report of Access&#8217; independent registered public accounting firm for the fiscal
      year ended December 31, 2006 contained a fourth explanatory paragraph to reflect
      its significant doubt about Access&#8217; ability to continue as a going concern as a
      result of Access&#8217; history of losses and Access&#8217; liquidity position. If Access is
      unable to obtain adequate capital funding in the future, Access may not be
      able
      to continue as a going concern, which would have an adverse effect on Access&#8217;
business and operations, and investors&#8217; investment in Access may
      decline.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      has experienced a history of losses, Access expects to incur future losses
      and
      Access may be unable to obtain necessary additional capital to fund operations
      in the future.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      recorded minimal revenue to date and Access has incurred a cumulative operating
      loss of approximately $81.8 million through March 31, 2007. Net losses for
      the
      years ended 2006, 2005 and 2004 were $12,874,000, $1,700,000 and $10,238,000,
      respectively. Access&#8217; losses have resulted principally from costs incurred in
      research and development activities related to Access&#8217; efforts to develop
      clinical drug candidates and from the associated administrative costs. Access
      expects to incur additional operating losses over the next several years. Access
      also expects cumulative losses to increase if Access expands research and
      development efforts and preclinical and clinical trials. Access&#8217; net cash burn
      rate for the three months ended March 31, 2007 was approximately $435,000 per
      month. Access projects its net cash burn rate for the next six months to be
      approximately $450,000 per month. Capital expenditures are forecasted to be
      minor for the next six months. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">19</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      requires substantial capital for its development programs and operating
      expenses, to pursue regulatory clearances and to prosecute and defend its
      intellectual property rights. Access believes that its existing capital
      resources, interest income, product sales, royalties and revenue from possible
      licensing agreements and collaborative agreements will be sufficient to fund
      its
      currently expected operating expenses and capital requirements for six months
      (other than debt and interest obligations including the approximately
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$6
      million of Senior Convertible notes due June 11, 2007 plus accrued interest;
      and
      approximately </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$4.0
      million of convertible notes which are required to be repaid June 12, 2007
      plus
      accrued interest; and capitalized interest of $880,000 due September 13, 2007).
      Access will need to raise substantial additional capital to support its ongoing
      operations and debt obligations.</font></div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      Access
      does raise additional funds by issuing equity securities, further dilution
      to
      existing stockholders would result and future investors may be granted rights
      superior to those of existing stockholders. If adequate funds are not available
      to Access through additional equity offerings, Access may be required to delay,
      reduce the scope of or eliminate one or more of its research and development
      programs or to obtain funds by entering into arrangements with collaborative
      partners or others that require Access to issue additional equity securities
      or
      to relinquish rights to certain technologies or drug candidates that Access
      would not otherwise issue or relinquish in order to continue independent
      operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      does not have operating revenue and it may never attain
      profitability.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
      date,
      Access has funded its operations primarily through private sales of common
      stock
      and convertible notes. Contract research payments and licensing fees from
      corporate alliances and mergers have also provided funding for its operations.
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Its
      ability to achieve significant revenue or profitability depends upon its ability
      to successfully complete the development of drug candidates, to develop and
      obtain patent protection and regulatory approvals for Access&#8217; drug candidates
      and to manufacture and commercialize the resulting drugs. Access sold its only
      revenue producing assets to Uluru, Inc. in October 2005. Access is not expecting
      any revenues in the short-term from its other assets. Furthermore, Access may
      not be able to ever successfully identify, develop, commercialize, patent,
      manufacture, obtain required regulatory approvals and market any additional
      products. Moreover, even if Access does identify, develop, commercialize,
      patent, manufacture, and obtain required regulatory approvals to market
      additional products, Access may not generate revenues or royalties from
      commercial sales of these products for a significant number of years, if at
      all.
      Therefore, its proposed operations are subject to all the risks inherent in
      the
      establishment of a new business enterprise. In the next few years, its revenues
      may be limited to minimal product sales and royalties, any amounts that Access
      receives under strategic partnerships and research or drug development
      collaborations that Access may establish and, as a result, Access may be unable
      to achieve or maintain profitability in the future or to achieve significant
      revenues in order to fund its operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      may not be able to pay its debt and other obligations and its assets may be
      seized as a result.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      may not generate the cash flow required to pay its liabilities as they become
      due. Its outstanding debt includes approximately $6.0 million of Senior
      Convertible notes due June 11, 2007, and approximately $4.0 million of its
      Convertible Subordinated Notes due June 12, 2007 and $5.5 million are due in
      September 2010. Access has also capitalized interest of $880,000&#160;due
      September 13, 2007 or earlier if Access raises over $5.0 million in new
      equity.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      its
      cash flow is inadequate to meet these obligations, Access will default on the
      notes. Any default on the notes could allow its note holders to foreclose upon
      its assets, and force it into bankruptcy. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      may be unable to repay, repurchase or restructure the convertible subordinated
      notes due in June 2007 and September 2010 and could be forced into bankruptcy.
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      event of a default, the holders of its secured convertible notes have the right
      to foreclose on substantially all of its assets, which could force it to curtail
      or cease its business operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      holders of Access&#8217;s convertible notes may require it to repurchase or prepay all
      of the outstanding convertible notes under certain circumstances. Access may
      not
      have sufficient cash reserves to repurchase the convertible notes at such time,
      which would cause an event of default under the convertible notes and may force
      it to declare bankruptcy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      may not successfully commercialize its drug candidates.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      drug candidates are subject to the risks of failure inherent in the development
      of pharmaceutical products based on new technologies and its failure to develop
      safe, commercially viable drugs would severely limit its ability to become
      profitable or to achieve significant revenues. Access may be unable to
      successfully commercialize Access&#8217; drug candidates because:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">some
                or all of its drug candidates may be found to be unsafe or ineffective
                or
                otherwise fail to meet applicable regulatory standards or receive
                necessary regulatory clearances;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">its
                drug candidates, if safe and effective, may be too difficult to develop
                into commercially viable drugs;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">it
                may be difficult to manufacture or market its drug candidates on
                a large
                scale;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">proprietary
                rights of third parties may preclude it from marketing its drug
                candidates; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">third
                parties may market superior or equivalent
                drugs.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">20</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      success of Access&#8217; research and development activities, upon which Access
      primarily focuses, is uncertain.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      primary focus is on its research and development activities and the
      commercialization of compounds covered by proprietary biopharmaceutical patents
      and patent applications. Research and development activities, by their nature,
      preclude definitive statements as to the time required and costs involved in
      reaching certain objectives. Actual research and development costs, therefore,
      could exceed budgeted amounts and estimated time frames may require extension.
      Cost overruns, unanticipated regulatory delays or demands, unexpected adverse
      side effects or insufficient therapeutic efficacy will prevent or substantially
      slow Access&#8217; research and development effort and Access&#8217; business could
      ultimately suffer. Access anticipates that it will remain principally engaged
      in
      research and development activities for an indeterminate, but substantial,
      period of time.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      may be unable to successfully develop, market, or commercialize its products
      or
      its product candidates without establishing new relationships and maintaining
      current relationships.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      strategy for the research, development and commercialization of its potential
      pharmaceutical products may require it to enter into various arrangements with
      corporate and academic collaborators, licensors, licensees and others, in
      addition to its existing relationships with other parties. Specifically, Access
      may seek to joint venture, sublicense or enter other marketing arrangements
      with
      parties that have an established marketing capability or Access may choose
      to
      pursue the commercialization of such products on its own. Access may, however,
      be unable to establish such additional collaborative arrangements, license
      agreements, or marketing agreements as Access may deem necessary to develop,
      commercialize and market Access&#8217; potential pharmaceutical products on acceptable
      terms. Furthermore, if Access maintains and establishes arrangements or
      relationships with third parties, its business may depend upon the successful
      performance by these third parties of their responsibilities under those
      arrangements and relationships. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      ability to successfully commercialize, and market Access&#8217; product candidates
      could be limited if a number of these existing relationships were
      terminated.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Furthermore,
      its strategy with respect to its polymer platinate program is to enter into
      a
      licensing agreement with a pharmaceutical company pursuant to which the further
      costs of developing a product would be shared with its licensing partner.
      Although Access has had discussions with potential licensing partners with
      respect to its polymer platinate program, to date Access has not entered into
      any licensing arrangement. Access may be unable to execute its licensing
      strategy for polymer platinate.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      may be unable to successfully manufacture its products and its product
      candidates in clinical quantities or for commercial purposes without the
      assistance of contract manufacturers, which may be difficult for it to obtain
      and maintain.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has limited experience in the manufacture of pharmaceutical products in clinical
      quantities or for commercial purposes and Access may not be able to manufacture
      any new pharmaceutical products that Access may develop. As a result, Access
      has
      established, and in the future intends to establish arrangements with contract
      manufacturers to supply sufficient quantities of products to conduct clinical
      trials and for the manufacture, packaging, labeling and distribution of finished
      pharmaceutical products if any of its potential products are approved for
      commercialization. If Access is unable to contract for a sufficient supply
      of
      its potential pharmaceutical products on acceptable terms, its preclinical
      and
      human clinical testing schedule may be delayed, resulting in the delay of its
      clinical programs and submission of product candidates for regulatory approval,
      which could cause its business to suffer. Its business could suffer if there
      are
      delays or difficulties in establishing relationships with manufacturers to
      produce, package, label and distribute its finished pharmaceutical or other
      medical products, if any, market introduction and subsequent sales of such
      products. Moreover, contract manufacturers that Access may use must adhere
      to
      current Good Manufacturing Practices, as required by the FDA. In this regard,
      the FDA will not issue a pre-market approval or product and establishment
      licenses, where applicable, to a manufacturing facility for the products until
      the manufacturing facility passes a pre-approval plant inspection. If Access
      is
      unable to obtain or retain third party manufacturing on commercially acceptable
      terms, Access may not be able to commercialize its products as planned. Its
      potential dependence upon third parties for the manufacture of its products
      may
      adversely affect its ability to generate profits or acceptable profit margins
      and its ability to develop and deliver such products on a timely and competitive
      basis. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">21</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">ProLindac&#8482;
      is manufactured by third parties for Access&#8217; Phase II clinical trials.
      Manufacturing is ongoing for the current clinical trials. Certain manufacturing
      steps are conducted by the Company to enable significant cost savings to be
      realized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      is subject to extensive governmental regulation which increases its cost of
      doing business and may affect its ability to commercialize any new products
      that
      Access may develop.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      FDA
      and comparable agencies in foreign countries impose substantial requirements
      upon the introduction of pharmaceutical products through lengthy and detailed
      laboratory, preclinical and clinical testing procedures and other costly and
      time-consuming procedures to establish its safety and efficacy. All of its
      drugs
      and drug candidates require receipt and maintenance of governmental approvals
      for commercialization. Preclinical and clinical trials and manufacturing of
      its
      drug candidates will be subject to the rigorous testing and approval processes
      of the FDA and corresponding foreign regulatory authorities. Satisfaction of
      these requirements typically takes a significant number of years and can vary
      substantially based upon the type, complexity and novelty of the product. The
      status of Access&#8217; principal products is as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" valign="middle" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 6pt;" face="Wingdings">l</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;A
                mucoadhesive liquid technology product, MuGard&#8482;, has received marketing
                approval by the FDA. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" valign="middle" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 6pt;" face="Wingdings"><strong>l</strong></font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;ProLindac&#8482;
                is currently in a Phase II trial in Europe and a Phase II trial in
                the
                US.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" valign="middle" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 6pt;" face="Wingdings"><strong>l</strong></font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;ProLindac&#8482;
                has been approved for an additional Phase I trial in the US by the
                FDA.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" valign="middle" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 6pt;" face="Wingdings">l</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Cobalamin&#8482;
                mediated delivery technology is currently in the pre-clinical
                phase.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" valign="middle" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 6pt;" face="Wingdings">l</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Access
                also has other products in the preclinical
                phase.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Due
      to
      the time consuming and uncertain nature of the drug candidate development
      process and the governmental approval process described above, Access cannot
      assure you when Access, independently or with its collaborative partners, might
      submit a NDA, for FDA or other regulatory review.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Government
      regulation also affects the manufacturing and marketing of pharmaceutical
      products. Government regulations may delay marketing of Access&#8217; potential drugs
      for a considerable or indefinite period of time, impose costly procedural
      requirements upon its activities and furnish a competitive advantage to larger
      companies or companies more experienced in regulatory affairs. Delays in
      obtaining governmental regulatory approval could adversely affect Access&#8217;
marketing as well as its ability to generate significant revenues from
      commercial sales. Access&#8217; drug candidates may not receive FDA or other
      regulatory approvals on a timely basis or at all. Moreover, if regulatory
      approval of a drug candidate is granted, such approval may impose limitations
      on
      the indicated use for which such drug may be marketed. Even if Access obtains
      initial regulatory approvals for its drug candidates, Access&#8217; drugs and its
      manufacturing facilities would be subject to continual review and periodic
      inspection, and later discovery of previously unknown problems with a drug,
      manufacturer or facility may result in restrictions on the marketing or
      manufacture of such drug, including withdrawal of the drug from the market.
      The
      FDA and other regulatory authorities stringently apply regulatory standards
      and
      failure to comply with regulatory standards can, among other things, result
      in
      fines, denial or withdrawal of regulatory approvals, product recalls or
      seizures, operating restrictions and criminal prosecution.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      uncertainty associated with preclinical and clinical testing may affect Access&#8217;
ability to successfully commercialize new products.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Before
      Access can obtain regulatory approvals for the commercial sale of any of its
      potential drugs, the drug candidates will be subject to extensive preclinical
      and clinical trials to demonstrate their safety and efficacy in humans.
      Preclinical or clinical trials of any of its future drug candidates may not
      demonstrate the safety and efficacy of such drug candidates at all or to the
      extent necessary to obtain regulatory approvals. In this regard, for example,
      adverse side effects can occur during the clinical testing of a new drug on
      humans which may delay ultimate FDA approval or even lead it to terminate its
      efforts to develop the drug for commercial use. Companies in the biotechnology
      industry have suffered significant setbacks in advanced clinical trials, even
      after demonstrating promising results in earlier trials. In particular, polymer
      platinate has taken longer to progress through clinical trials than originally
      planned. This extra time has not been related to concerns of the formulations
      but rather due to the lengthy regulatory process. The failure to adequately
      demonstrate the safety and efficacy of a drug candidate under development could
      delay or prevent regulatory approval of the drug candidate. A delay or failure
      to receive regulatory approval for any of Access&#8217; drug candidates could prevent
      Access from successfully commercializing such candidates and Access could incur
      substantial additional expenses in its attempts to further develop such
      candidates and obtain future regulatory approval. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">22</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      may incur substantial product liability expenses due to the use or misuse of
      its
      products for which Access may be unable to obtain insurance
      coverage.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      business exposes it to potential liability risks that are inherent in the
      testing, manufacturing and marketing of pharmaceutical products. These risks
      will expand with respect to its drug candidates, if any, that receive regulatory
      approval for commercial sale and Access may face substantial liability for
      damages in the event of adverse side effects or product defects identified
      with
      any of its products that are used in clinical tests or marketed to the public.
      Access generally procures product liability insurance for drug candidates that
      are undergoing human clinical trials. Product liability insurance for the
      biotechnology industry is generally expensive, if available at all, and as
      a
      result, Access may be unable to obtain insurance coverage at acceptable costs
      or
      in a sufficient amount in the future, if at all. Access may be unable to satisfy
      any claims for which Access may be held liable as a result of the use or misuse
      of products which Access has developed, manufactured or sold and any such
      product liability claim could adversely affect its business, operating results
      or financial condition.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      may incur significant liabilities if it fails to comply with stringent
      environmental regulations or if Access did not comply with these regulations
      in
      the past.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      research and development processes involve the controlled use of hazardous
      materials. Access is subject to a variety of federal, state and local
      governmental laws and regulations related to the use, manufacture, storage,
      handling and disposal of such material and certain waste products. Although
      Access believes that its activities and its safety procedures for storing,
      using, handling and disposing of such materials comply with the standards
      prescribed by such laws and regulations, the risk of accidental contamination
      or
      injury from these materials cannot be completely eliminated. In the event of
      such accident, Access could be held liable for any damages that result and
      any
      such liability could exceed its resources. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Intense
      competition may limit Access&#8217; ability to successfully develop and market
      commercial products.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      biotechnology and pharmaceutical industries are intensely competitive and
      subject to rapid and significant technological change. Access&#8217; competitors in
      the United States and elsewhere are numerous and include, among others, major
      multinational pharmaceutical and chemical companies, specialized biotechnology
      firms and universities and other research institutions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following products may compete with polymer platinate:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cisplatin, marketed by Bristol-Myers Squibb, the originator of the drug, and
      several generic manufacturers;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Carboplatin, marketed by Bristol-Myers Squibb in the US; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Oxaliplatin, marketed exclusively by Sanofi-Aventis.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following companies are working on therapies and formulations that may be
      competitive with Access&#8217; polymer platinate:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;Antigenics
      and Regulon are developing liposomal platinum formulations;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;
      Spectrum Pharmaceuticals and GPC Biotech are developing oral platinum
      formulations;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;
      Poniard Pharmaceuticals is developing both iv and oral platinum
      formulations;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;
      Nanocarrier and Debio are developing micellar nanoparticle platinum
      formulations; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;American
      Pharmaceutical Partners, Cell Therapeutics, Daiichi, and Enzon are developing
      alternate drugs in combination</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;
      with polymers and other drug delivery systems.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Companies
      working on therapies and formulations that may be competitive with Access&#8217;
vitamin mediated drug delivery system are Bristol-Myers Squibb, Centocor
      (acquired by Johnson &amp; Johnson), Endocyte, GlaxoSmithKline, Imclone and Xoma
      which are developing targeted monoclonal antibody therapy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amgen,
      Carrington Laboratories, CuraGen Corporation, Cytogen Corporation, Endo
      Pharmaceuticals, MGI Pharma, Nuvelo, Inc. and OSI Pharmaceuticals are developing
      products to treat mucositis that may compete with Access&#8217; mucoadhesive liquid
      technology.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">BioDelivery
      Sciences International, Biovail Corporation, Cellgate, CIMA Labs, Inc., Cytogen
      Corporation, Depomed Inc., Emisphere Technologies, Inc., Eurand, Flamel
      Technologies, Nobex and Xenoport are developing products which compete with
      Access&#8217; oral drug delivery system.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">23</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Many
      of
      these competitors have and employ greater financial and other resources,
      including larger research and development, marketing and manufacturing
      organizations. As a result, Access&#8217; competitors may successfully develop
      technologies and drugs that are more effective or less costly than any that
      Access is developing or which would render Access&#8217; technology and future
      products obsolete and noncompetitive.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, some of Access; competitors have greater experience than Access does
      in conducting preclinical and clinical trials and obtaining FDA and other
      regulatory approvals. Accordingly, Access&#8217; competitors may succeed in obtaining
      FDA or other regulatory approvals for drug candidates more rapidly than Access
      does. Companies that complete clinical trials, obtain required regulatory agency
      approvals and commence commercial sale of their drugs before their competitors
      may achieve a significant competitive advantage. Drugs resulting from Access&#8217;
research and development efforts or from its joint efforts with collaborative
      partners therefore may not be commercially competitive with its competitors'
      existing products or products under development.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access&#8217;
      ability to successfully develop and commercialize its drug candidates will
      substantially depend upon the availability of reimbursement funds for the costs
      of the resulting drugs and related treatments.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      successful commercialization of, and the interest of potential collaborative
      partners to invest in the development of its drug candidates, may depend
      substantially upon reimbursement of the costs of the resulting drugs and related
      treatments at acceptable levels from government authorities, private health
      insurers and other organizations, including health maintenance organizations,
      or
      HMOs. Limited reimbursement for the cost of any drugs that Access develops
      may
      reduce the demand for, or price of such drugs, which would hamper its ability
      to
      obtain collaborative partners to commercialize its drugs, or to obtain a
      sufficient financial return on its own manufacture and commercialization of
      any
      future drugs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      market may not accept any pharmaceutical products that Access successfully
      develops.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      drugs
      that Access is attempting to develop may compete with a number of
      well-established drugs manufactured and marketed by major pharmaceutical
      companies. The degree of market acceptance of any drugs developed by it will
      depend on a number of factors, including the establishment and demonstration
      of
      the clinical efficacy and safety of its drug candidates, the potential advantage
      of its drug candidates over existing therapies and the reimbursement policies
      of
      government and third-party payers. Physicians, patients or the medical community
      in general may not accept or use any drugs that Access may develop independently
      or with its collaborative partners and if they do not, its business could
      suffer.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Trends
      toward managed health care and downward price pressures on medical products
      and
      services may limit its ability to profitably sell any drugs that Access may
      develop.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lower
      prices for pharmaceutical products may result from:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 99pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">third-party
                payers' increasing challenges to the prices charged for medical products
                and services;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 99pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                trend toward managed health care in the United States and the concurrent
                growth of HMOs and similar organizations that can control or significantly
                influence the purchase of healthcare services and products;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 99pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">legislative
                proposals to reform healthcare or reduce government insurance
                programs.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      cost
      containment measures that healthcare providers are instituting, including
      practice protocols and guidelines and clinical pathways, and the effect of
      any
      healthcare reform, could limit Access&#8217; ability to profitably sell any drugs that
      Access may successfully develop. Moreover, any future legislation or regulation,
      if any, relating to the healthcare industry or third-party coverage and
      reimbursement, may cause its business to suffer.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">24</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      may not be successful in protecting its intellectual property and proprietary
      rights.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      success depends, in part, on its ability to obtain U.S. and foreign patent
      protection for its drug candidates and processes, preserve its trade secrets
      and
      operate its business without infringing the proprietary rights of third parties.
      Legal standards relating to the validity of patents covering pharmaceutical
      and
      biotechnological inventions and the scope of claims made under such patents
      are
      still developing and there is no consistent policy regarding the breadth of
      claims allowed in biotechnology patents. The patent position of a biotechnology
      firm is highly uncertain and involves complex legal and factual questions.
      Access cannot assure you that any existing or future patents issued to, or
      licensed by, it will not subsequently be challenged, infringed upon, invalidated
      or circumvented by others. As a result, although Access, together with its
      subsidiaries, are either the owner or licensee to 13 U.S. patents and to 9
      U.S.
      patent applications now pending, and 4 European patents and 12 European patent
      applications, Access cannot assure you that any additional patents will issue
      from any of the patent applications owned by, or licensed to, it. Furthermore,
      any rights that Access may have under issued patents may not provide it with
      significant protection against competitive products or otherwise be commercially
      viable. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      patents for the following technologies expire in the years and during the date
      ranges indicated below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mucoadhesive
                technology in 2021,</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">ProLindac&#8482;
                in 2021,</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin
                mediated technology between 2007 and
                2019</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition to issued patents, Access has a number of pending patent applications.
      If issued, the patents underlying theses applications could extend the patent
      life of its technologies beyond the dates listed above.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patents
      may have been granted to third parties or may be granted covering products
      or
      processes that are necessary or useful to the development of Access&#8217; drug
      candidates. If Access&#8217; drug candidates or processes are found to infringe upon
      the patents or otherwise impermissibly utilize the intellectual property of
      others, Access&#8217; development, manufacture and sale of such drug candidates could
      be severely restricted or prohibited. In such event, Access may be required
      to
      obtain licenses from third parties to utilize the patents or proprietary rights
      of others. Access cannot assure you that it will be able to obtain such licenses
      on acceptable terms, if at all. If Access becomes involved in litigation
      regarding its intellectual property rights or the intellectual property rights
      of others, the potential cost of such litigation, regardless of the strength
      of
      its legal position, and the potential damages that Access could be required
      to
      pay could be substantial.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access&#8217;
      business could suffer if Access loses the services of, or fail to attract,
      key
      personnel. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      highly dependent upon the efforts of its senior management and scientific team,
      including its President and Chief Executive Officer, Stephen R. Seiler. The
      loss
      of the services of one or more of these individuals could delay or prevent
      the
      achievement of its research, development, marketing, or product
      commercialization objectives. While Access has employment agreements with
      Stephen R. Seiler, David P. Nowotnik, PhD its Senior Vice President Research
      and
      Development, and Stephen B. Thompson, its Vice President and Chief Financial
      Officer, their employment may be terminated by them or Access at any time.
      Mr.
      Seiler&#8217;s, Dr. Nowotnik's and Mr. Thompson&#8217;s agreements expire within one year
      and are extendable each year on the anniversary date. Access does not have
      employment contracts with its other key personnel. Access does not maintain
      any
      "key-man" insurance policies on any of its key employees and Access does not
      intend to obtain such insurance. In addition, due to the specialized scientific
      nature of its business, Access is highly dependent upon its ability to attract
      and retain qualified scientific and technical personnel. In view of the stage
      of
      its development and its research and development programs, Access has restricted
      its hiring to research scientists and a small administrative staff and Access
      has made only limited investments in manufacturing, production, sales or
      regulatory compliance resources. There is intense competition among major
      pharmaceutical and chemical companies, specialized biotechnology firms and
      universities and other research institutions for qualified personnel in the
      areas of Access&#8217; activities, however, and Access may be unsuccessful in
      attracting and retaining these personnel.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>An
      investment in Access&#8217; common stock may be less attractive because it is not
      traded on a recognized public market.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      common stock has traded on the OTC Bulletin Board, or OTCBB since June 5, 2006.
      From February 1, 2006 until June 5, 2006 Access traded on the &#8220;Pink Sheets&#8221;
after its common stock was de-listed from trading on AMEX. The OTCBB and Pink
      Sheets are viewed by most investors as a less desirable, and less liquid,
      marketplace. As a result, an investor may find it more difficult to purchase,
      dispose of or obtain accurate quotations as to the value of its common
      stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">25</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      common stock is subject to Rules 15g-1 through 15g-9 under the Exchange Act,
      which imposes certain sales practice requirements on broker-dealers who sell
      its
      common stock to persons other than established customers and "accredited
      investors" (as defined in Rule 501(c) of the Securities Act). For transactions
      covered by this rule, a broker-dealer must make a special suitability
      determination for the purchaser and have received the purchaser's written
      consent to the transaction prior to the sale. This rule adversely affects the
      ability of broker-dealers to sell Access&#8217; common stock and purchasers of its
      common stock to sell their shares of Access&#8217; common stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Additionally,
      Access&#8217; common stock is subject to SEC regulations applicable to "penny stock."
      Penny stock includes any non-NASDAQ equity security that has a market price
      of
      less than $5.00 per share, subject to certain exceptions. The regulations
      require that prior to any non-exempt buy/sell transaction in a penny stock,
      a
      disclosure schedule proscribed by the SEC relating to the penny stock market
      must be delivered by a broker-dealer to the purchaser of such penny stock.
      This
      disclosure must include the amount of commissions payable to both the
      broker-dealer and the registered representative and current price quotations
      for
      Access&#8217; common stock. The regulations also require that monthly statements be
      sent to holders of penny stock that disclose recent price information for the
      penny stock and information of the limited market for penny stocks. These
      requirements adversely affect the market liquidity of Access&#8217;common
      stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Ownership
      of Access&#8217; shares is concentrated in the hands of a few investors which could
      limit the ability of Access&#8217; other stockholders to influence the direction of
      the company.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      calculated by the SEC rules of beneficial ownership, SCO Capital Partners LLC
      and affiliates, Larry N. Feinberg (Oracle Partners LP, Oracle Institutional
      Partners LP and Oracle Investment Management Inc.), and Jeffrey B. Davis each
      beneficially owned approximately 74.1%, 26.4%, and 14.9%, respectively, of
      Access&#8217; common stock as of March 31, 2007. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accordingly,
      they collectively may have the ability to significantly influence or determine
      the election of all of Access&#8217; directors or the outcome of most corporate
      actions requiring stockholder approval. They may exercise this ability in a
      manner that advances their best interests and not necessarily those of Access&#8217;
other stockholders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Provisions
      of Access&#8217; charter documents could discourage an acquisition of its company that
      would benefit its stockholders </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
      may
      have the effect of entrenching, and making it difficult to remove,
      management</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Provisions
      of Access&#8217; Certificate of Incorporation, By-laws and Stockholders Rights Plan
      may make it more difficult for a third party to acquire control of the Company,
      even if a change in control would benefit Access stockholders. In particular,
      shares of Access preferred stock may be issued in the future without further
      stockholder approval and upon such terms and conditions, and having such rights,
      privileges and preferences, as Access&#8217; Board of Directors may determine,
      including, for example, rights to convert into Access common stock. The rights
      of the holders of Access common stock will be subject to, and may be adversely
      affected by, the rights of the holders of any of Access&#8217; preferred stock that
      may be issued in the future. The issuance of Access preferred stock, while
      providing desirable flexibility in connection with possible acquisitions and
      other corporate purposes, could have the effect of making it more difficult
      for
      a third party to acquire control of Access. This could limit the price that
      certain investors might be willing to pay in the future for shares of Access
      common stock and discourage these investors from acquiring a majority of Access
      common stock. Further, the existence of these corporate governance provisions
      could have the effect of entrenching management and making it more difficult
      to
      change Access&#8217; management.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Substantial
      sales of Access common stock could lower its stock price.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      market price for Access common stock could drop as a result of sales of a large
      number of its presently outstanding shares or</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #0000ff; FONT-FAMILY: Times New Roman;"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">shares
      that Access may issue or be obligated to issue in the future</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      All of
      the 3,541,394 shares of Access common stock that are outstanding as of [May
      14],
      2007, are unrestricted and freely tradable or tradable pursuant to a resale
      registration statement or under Rule 144 of the Securities Act or are covered
      by
      a registration rights agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">26</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Failure
      to achieve and maintain effective internal controls could have a material
      adverse effect on Access&#8217; business. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effective
      internal controls are necessary for Access to provide reliable financial
      reports. If Access cannot provide reliable financial reports, Access&#8217; operating
      results could be harmed. All internal control systems, no matter how well
      designed, have inherent limitations. Therefore, even those systems determined
      to
      be effective can provide only reasonable assurance with respect to financial
      statement preparation and presentation. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">While
      Access continues to evaluate and improve its internal controls, Access cannot
      be
      certain that these measures will ensure that Access implements and maintains
      adequate controls over its financial processes and reporting in the future.
      Any
      failure to implement required new or improved controls, or difficulties
      encountered in their implementation, could harm its operating results or cause
      Access to fail to meet its reporting obligations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Failure
      to achieve and maintain an effective internal control environment could cause
      investors to lose confidence in Access&#8217; reported financial information, which
      could have a material adverse effect on its stock price.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Risks
      Relating to the Business of Somanta</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta&#8217;s
      independent auditor&#8217;s report contains a going concern qualification which means
      there is substantial doubt about Somanta&#8217;s ability to continue as a going
      concern.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      report of Somanta&#8217;s independent registered public accounting firm for the fiscal
      year ended April 30, 2006, contains an explanatory paragraph which states that
      Somanta has suffered recurring losses from operations and has a working capital
      deficiency that raises substantial doubt about its ability to continue as a
      going concern. Somanta incurred a net loss of $5,002,091 for the year ended
      April 30, 2006 and a net loss of $6,778,191 from the date of inception,
      April&#160;19, 2001 through April 30, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      April
      30, 2006, Somanta had an accumulated deficit of $8,300,508, a loss from
      operations of $4,108,431 and cash flows used in operations of $3,859,408.
      Somanta expects its operating losses to increase for at least the next several
      years as it pursues the clinical development of its lead product candidates
      and
      expands its discovery and development pipeline. Somanta has not generated any
      significant revenues from product sales to date, and Somanta do not expect
      to
      generate revenues from product sales for at least the next several years, if
      at
      all.&#160;Somanta expects its revenues for the next several years to consist of
      payments under certain of its current agreements and any additional
      collaborations, including upfront payments upon execution of new agreements,
      research funding and related fees throughout the research term of the agreements
      and milestone payments contingent upon achievement of agreed-upon
      objectives.&#160;To date, Somanta has received $10,000 in payments under such
      agreements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      consumed substantial amounts of capital since its inception. Somanta does not
      expect to have sufficient cash to fund operations after April 30,
      2007</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with the Merger, all of Somanta&#8217;s common stock that is outstanding at
      the effective time of the Merger (the &#8220;Effective Time&#8221;) will be converted into
      500,000 shares of Access common stock. No fractional shares of Access common
      stock will be issued as a result of the Merger. In addition, all of Somanta&#8217;s
      preferred stock, including the accrued and unpaid dividends, that is outstanding
      at the Effective Time of the Merger will be converted into 1,000,000 shares
      of
      Access&#8217; common stock. No shares of Access preferred stock will be issued as a
      result of the Merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      April
      26, 2007, Somanta entered into a Note Purchase Agreement, a Security Agreement,
      a Patent Collateral Assignment and Security Agreement and a Trademark Collateral
      Security and Pledge Agreement (collectively, the &#8220;Loan Documents&#8221;) with Access.
      Under the terms of the Loan Documents, Access initially loaned Somanta $33,462.
      Access, in its sole discretion, may from time to time advance additional loan
      amounts to Somanta. All amounts loaned to Somanta by Access are secured by
      substantially all of the assets of Somanta pursuant to the terms of the Loan
      Documents. The Note bears interest at 10% and is repayable at the earlier of:
      (i) August 31, 2007, or (ii) the date of the termination of the Agreement and
      Plan of Merger dated as of August 18, 2007 between Somanta and
      Access.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      the
      merger fails to close, Somanta expects that it will no longer be able to operate
      its business and will not have the resources to repay the loan.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">27</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      is an early stage development company with a history of losses, and as a result,
      Somanta is unable to predict whether it will ever become
      profitable.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Limited was founded in 2001, and Somanta has since been primarily engaged in
      organizational activities, including the development of a strategic plan, and
      entering into various licensing agreements for the rights to certain product
      candidates. Through April 30, 2006, Somanta has an accumulated deficit of
      $8,300,508. None of its licensed products candidates have received regulatory
      approval for sale in any jurisdiction in which Somanta has the right to market
      and sell such product candidates. Accordingly, Somanta has not generated any
      revenue from the commercialization of any licensed product. Somanta expects
      expenditures and the accumulated deficit to increase as Somanta proceeds with
      its commercialization program. To obtain revenues from the sale of its products,
      or in the form of license fees or other payments from collaboration partners,
      Somanta must succeed, either alone or with others, in developing, obtaining
      regulatory approval for, and manufacturing and marketing products with
      significant market potential. Somanta may never succeed in these activities
      and
      may never generate revenues that are significant enough to achieve
      profitability.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>In
      the near term, Somanta will likely require additional funding for the
      development and commercialization of its existing product
      candidates.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      will require substantial additional funding for the development and
      commercialization of its existing product candidates. The amount of additional
      funding required depends on the status of each product or opportunity at any
      given time. Somanta does not expect to have sufficient cash to fund its
      operations as currently conducted after April 30, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">28</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      must incur substantial expenses and expend substantial resources developing
      products that it may never be able to sell.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Before
      obtaining regulatory approval for the commercial sale of a product, Somanta
      must
      demonstrate through pre-clinical testing and clinical trials that a product
      candidate is safe and effective for use in humans. Conducting clinical trials
      is
      a lengthy, time-consuming and extremely expensive process. Completion of
      clinical trials for any product may take several years or more. The length
      of
      time generally varies substantially according to the type, complexity, novelty
      and intended use of the product candidate.&#160;Somanta&#8217;s commencement and rate
      of completion of clinical trials may be delayed by many factors,
      including:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Inability
      of vendors to manufacture sufficient quantities of materials for use in clinical
      trials;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Slower
      than expected rate of patient recruitment or variability in the number and
      type
      of patients in a study;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Inability
      to adequately follow patients after treatment;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Unforeseen
      safety issues or side effects;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lack
      of
      efficacy during the clinical trial; or</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Government
      or regulatory delays.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      a
      result, Somanta will incur substantial expense for, and devote a significant
      amount of time to pre-clinical and clinical trials.&#160;Historically, the
      results from pre-clinical testing and early clinical trials have often not
      been
      predictive of results obtained in later clinical trials. A number of new
      products have shown promising results in clinical trials, but subsequently
      failed to establish sufficient safety and efficacy data to obtain necessary
      regulatory approvals. Data obtained from pre-clinical and clinical activities
      are susceptible to varying interpretations, which may delay, limit or prevent
      regulatory approvals. Regulatory delays or rejections may also be encountered
      as
      a result of other factors, including changes in regulatory policy during the
      period of product development.&#160;In addition, regulatory authorities may
      require additional clinical trials, which could result in increased additional
      costs and significant additional development delays. If the results of Somanta&#8217;s
      clinical trials are significantly delayed or are ultimately not positive,
      Somanta may never be able to seek marketing approval to sell its product
      candidates or generate revenue from product sales.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      relies on third parties to coordinate its research and clinical trials and
      perform data collection and analysis, which may result in costs and delays
      that
      prevent Somanta from successfully commercializing its product
      candidates.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Although
      Somanta uses contracted consultants to design and manage its pre-clinical
      studies and clinical trials, Somanta currently does not have the resources
      to
      coordinate clinical trials for its product candidates. Somanta historically
      relied on contract research organizations, medical institutions, academic
      institutions, clinical investigators and contract laboratories to perform data
      collection and analysis and other aspects of its clinical trials. Somanta also
      relies on third parties to assist with its pre-clinical studies, including
      studies regarding biological activity, safety, absorption, metabolism and
      excretion of product candidates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
      pre-clinical development activities or clinical trials may be delayed, suspended
      or terminated if:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">these
                third parties do not successfully carry out their contractual duties
                or
                regulatory obligations or meet expected
                deadlines;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">these
      third parties need to be replaced; or</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                quality or accuracy of the data obtained by third parties is compromised
                due to their failure to adhere to Somanta&#8217;s clinical protocols or
                regulatory requirements or for other
                reasons.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Failure
      to perform by these third parties may increase Somanta&#8217;s development costs,
      delay its ability to obtain regulatory approval and prevent the
      commercialization of its product candidates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">29</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      has no experience in commercial manufacturing of its licensed products and
      may
      encounter problems or delays in having its products manufactured, which could
      result in delayed development, regulatory approval and marketing of its
      products.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      has not commercially launched any of its product candidates and has no
      commercial manufacturing experience. To be successful, its product candidates
      must be manufactured in commercial quantities in compliance with regulatory
      requirements and at an acceptable cost. Somanta does not have and does not
      intend to acquire facilities for the production of its licensed product
      candidates. Somanta intends to negotiate contract manufacturing agreements
      with
      third parties to provide the products for its development and commercialization
      activities, but Somanta does not know if it will be able to enter into such
      agreements on commercially reasonable terms, if at all. Somanta is in the
      process of negotiating such third party manufacture, formulation and supply
      agreements with several entities. All facilities and manufacturing techniques
      used in the manufacture of products for clinical use or for sale in the U.S.
      must be operated in conformity with current good manufacturing practices
      guidelines established by the U.S. Food and Drug Administration, or the FDA.
      Somanta does not know whether the FDA will determine that any such third party
      facilities comply with such current good manufacturing practices. Somanta&#8217;s
      inability to enter into an agreement with any such third party, the inability
      of
      such a third party to manufacture its products in commercial quantities, or
      a
      delay in manufacturing due to a failure to comply with current good
      manufacturing practices by such a third party, would delay the marketing of
      its
      products and negatively impact its revenue and profitability.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      depends on licenses from third parties and the maintenance of its licenses
      are
      necessary for its success.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      does not conduct its own initial research with respect to the identification
      of
      new product candidates. Instead, Somanta relies upon research and development
      work conducted by others as a primary source for new product candidates. As
      such, Somanta has obtained its rights to its product candidates through license
      agreements with various third party licensors as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exclusive
                Patent and Know-how Sub-license Agreement between Somanta and Immunodex,
                Inc. dated August&#160;18, 2005, as
                amended;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patent
                and Know-how Assignment and License Agreement between Somanta and
                De
                Montfort University dated March&#160;20,
                2003;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patent
                and Know-how Assignment and License Option Agreement between Somanta
                and
                The School of Pharmacy, University of London dated March&#160;16, 2004, as
                amended on September&#160;21, 2005;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                Phenylbutyrate Co-Development and Sublicense Agreement between Somanta
                and
                Virium Pharmaceuticals, Inc. dated February&#160;16, 2005, as
                amended.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      is dependent upon these licenses for its rights to develop and commercialize
      its
      product candidates. While Somanta believes it is in compliance with its
      obligations under the licenses, certain licenses may be terminated or converted
      to non-exclusive licenses by the licensor if Somanta breaches the terms of
      the
      license. Somanta cannot guarantee you that the licenses will not be terminated
      or converted in the future. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">While
      Somanta expects that it will be able to continue to identify licensable product
      candidates or research suitable for licensing and commercialization by it,
      there
      can be no assurance that this will occur. For example, Somanta is in discussions
      with the National Institutes of Health to obtain licenses to certain patents
      held by them that will be necessary for the manufacture of its product candidate
      Angiolix. Unless Somanta obtains licenses on terms that are acceptable to it,
      Somanta may not be able to manufacture and obtain product registrations on
      Angiolix. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      depends on collaborations with third parties to develop and commercialize its
      products and to provide the majority of its revenues.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      key
      aspect of Somanta&#8217;s strategy is to selectively enter into collaborations with
      third parties and to license certain technology to such third parties. Somanta
      intends to rely on its collaborators for financial resources and for
      development, commercialization and regulatory expertise. Somanta has entered
      into its first license agreement with Advanced Cardiovascular Devices, LLC,
      for
      the use of its product candidate known as Alchemix for the treatment of vascular
      diseases worldwide. Somanta is entitled to milestone payments and a royalty
      on
      net sales if product approvals are obtained by Advanced Cardiovascular Devices,
      LLC. Somanta has not yet entered into a collaboration agreement with respect
      to
      any of its other product candidates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">30</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, its existing and future collaborators may fail to develop or
      effectively commercialize its product candidates or technologies because
      they:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">do
                not have sufficient resources or decide not to devote the necessary
                resources due to internal constraints such as limited cash or human
                resources;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">decide
      to
      pursue a competitive potential product developed outside of the collaboration;
      or</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">cannot
      obtain the necessary regulatory approvals.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      its
      collaboration partners fail to develop or effectively commercialize its product
      candidates, its results of operations will suffer.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>If
      conflicts arise with Somanta&#8217;s collaborators, they may act in their
      self-interests, which may be adverse to Somanta&#8217;s
      interests.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Conflicts
      may arise in Somanta&#8217;s collaborations due to one or more of the
      following:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">disputes
      with respect to payments that Somanta believes are due under a collaboration
      agreement;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">disagreements
      with respect to ownership of intellectual property rights;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">unwillingness
                on the part of a collaborator to keep Somanta informed regarding
                the
                progress of its development and commercialization activities, or
                to permit
                public disclosure of these
                activities;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">delay
      of
      a collaborator&#8217;s development or commercialization efforts with respect to
      Somanta product candidates; or</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">termination
      or non-renewal of the collaboration.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Conflicts
      arising with Somanta&#8217;s collaborators could harm its reputation, result in a loss
      of revenues, reduce its cash position and cause a decline in its stock
      price.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      may not be able to obtain necessary funding from product sales, license fees
      or
      royalties, and as a result, Somanta may require additional funding through
      public or private financing, which may not be available on acceptable terms,
      if
      at all.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      assesses its additional funding needs on a project-by-project basis from
      time-to-time. Its business strategy is to license rights to promising product
      candidates, further develop those product candidates by progressing the product
      candidates toward regulatory approval by conducting clinical trials, and finally
      to license rights to manufacture and/or market the resulting products to other
      pharmaceutical firms in exchange for royalties and license fees. Due to these
      licensing arrangements and its dependence on others for the manufacture,
      development and sale of its licensed products, Somanta does not have consistent
      monthly or quarterly expenditures and cannot determine the amount and timing
      of
      required additional funding. To the extent that Somanta is unable to fund its
      development efforts from product sales, license fees and royalties, it may
      be
      necessary to reconsider the continuation of certain existing projects and to
      curtail entering into any new projects. In addition, Somanta will likely have
      to
      seek additional funding through public or private financing; however, Somanta
      does not know if such funding will be available, or that if available, if it
      will be available on favorable terms.&#160;If Somanta is unable to obtain such
      additional funding, Somanta may not be able to develop its product candidates
      which will materially and adversely affect its business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>If
      Somanta fails to keep up with rapid technological change and evolving therapies,
      its product candidates could become less competitive or
      obsolete.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      pharmaceutical industry is characterized by rapid and significant technological
      change. Somanta expects that pharmaceutical technology will continue to develop
      rapidly, and its future success will depend on its ability to develop and
      maintain a competitive position. Technology development by others may result
      in
      product candidates developed by it becoming obsolete before they are marketed
      or
      before Somanta has recovered a significant portion of the development and
      commercialization expenses incurred with respect to these product candidates.
      Alternative therapies or new medical treatments could alter existing treatment
      regimes, and thereby reduce the need for one or more of the product candidates
      developed by Somanta, which would adversely affect its revenue and cash
      flow.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      is subject to extensive competition.&#160;If Somanta is unsuccessful in
      establishing and maintaining a competitive advantage, its business will
      suffer.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      biopharmaceutical industry is intensely competitive. Many companies, including
      other biopharmaceutical companies and biotechnology companies, are actively
      engaged in activities similar to Somanta&#8217;s, including research and development
      of products for the treatment of cancer. More specifically, competitors for
      the
      development of new therapeutic products to treat cancer also focus on the same
      approach to delivering cancer therapeutics as Somanta does. A 2006 survey by
      the
      Pharmaceutical Research and Manufacturers of America listed nearly 400 new
      treatments for cancer that are currently being tested by
      researchers.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">31</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
      Somanta&#8217;s knowledge, other companies that are involved in the development of
      monoclonal antibody cancer therapeutics directly related to its efforts include
      Abgenix/Amgen, Genmab, ImClone/Bristol-Myers Squibb, ImmunoGen, Schering AG,
      Biogen Idec, Roche, Antisoma, Genentech and Merck.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      expects to encounter significant competition for the pharmaceutical product
      candidates they are developing and plan to develop in the future. Many of its
      competitors have substantially greater financial and other resources, larger
      research and development capabilities and more extensive marketing and
      manufacturing organizations than Somanta does. In addition, some such companies
      have considerable experience in pre-clinical testing, clinical trials and other
      regulatory approval procedures. There are also academic institutions,
      governmental agencies and other research organizations which are conducting
      research in areas in which Somanta is working and they may also market
      commercial products, either on their own or through collaborative efforts.
      If
      any of these competitors were to complete clinical trials, obtain required
      regulatory approvals and commence commercial sales of their product candidates
      before Somanta does, they would achieve a significant competitive
      advantage.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      conducts its business internationally and is subject to the laws and regulations
      of several countries which may affect its ability to access regulatory agencies
      and may affect the enforceability and value of its
      licenses.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      intends to conduct clinical trials in the U.S. and the European Union. In
      addition, Somanta intends to license the rights to develop and commercialize
      its
      product candidates to third parties who may be located anywhere in the world.
      Somanta does not know whether any sovereign government will establish laws
      or
      regulations that might be deleterious to its interests. Governments have, from
      time to time, established foreign exchange controls which could have a material
      adverse effect on Somanta and its financial condition, since such controls
      may
      limit its ability to flow funds into a country to meet its obligations under
      certain licensing agreements and to flow funds out of a country which Somanta
      may be entitled to, in the form of royalty and milestone payments, under other
      licensing agreements. In addition, the value of Somanta&#8217;s licenses will be
      dependent upon no punitive or prohibitive legislation being enacted with respect
      to biological materials.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta&#8217;s
      business strategy involves obtaining orphan drug designation for certain of
      its
      product candidates.&#160;Somanta may not be successful in receiving orphan drug
      status for certain of its product candidates or, if that status is obtained,
      fully enjoying the benefits of orphan drug status.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      Orphan Drug Act, the FDA may grant orphan drug designation to drugs intended
      to
      treat a rare disease or condition. A disease or condition that affects a
      population of fewer than 200,000 people in the U.S. generally constitutes a
      rare
      disease or condition. Orphan drug designation must be requested before
      submitting a new drug application. After the FDA grants orphan drug designation,
      the generic identity of the therapeutic agent and its potential orphan use
      are
      publicized by the FDA. Under current law, orphan drug status is conferred upon
      the first company to receive FDA approval to market the designated drug for
      the
      designated indication. Orphan drug status grants marketing exclusivity in the
      U.S. for a period of seven years following the approval of the new drug
      application, subject to limitations. Orphan drug designation does not provide
      an
      advantage in, or shorten the duration of, the FDA regulatory approval process.
      Although obtaining FDA approval to market a product with orphan drug status
      can
      be advantageous, the scope of protection or level of marketing exclusivity
      that
      is currently afforded by orphan drug status and marketing may not remain in
      effect in the future. Possible amendments of the Orphan Drug Act by the U.S.
      Congress have been the subject of frequent discussion. Although no significant
      changes to the Orphan Drug Act have been made for a number of years, members
      of
      Congress have proposed legislation that would limit the application of the
      Orphan Drug Act. The precise scope of protection afforded by orphan drug
      designation and marketing approval may be subject to change in the
      future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      price Somanta charges for its products and the level of third-party
      reimbursement may decrease, resulting in a decrease in its
      revenues.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
      ability to commercialize product candidates successfully depends in part on
      the
      price Somanta may be able to charge for resulting products and on the extent
      to
      which reimbursement for the cost of such products and related treatment will
      be
      available from government health administration authorities, private health
      insurers and other third-party payors. Somanta believes that government
      officials and private health insurers are increasingly challenging the price
      of
      medical products and services. Significant uncertainty exists as to the pricing
      flexibility which distributors will have with respect to newly approved health
      care products as well as the reimbursement status for such approved products.
      Third-party payors may attempt to control costs further by selecting exclusive
      providers of their pharmaceutical products. The lack of reimbursement would
      diminish the market for its product candidates and would have a material adverse
      effect on Somanta&#8217;s business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">32</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      may face exposure from product liability claims, and product liability insurance
      may not be sufficient to cover the costs of its liability claims related to
      its
      products.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      such
      time as Somanta has a product approved for commercial sale, Somanta will face
      exposure to product liability claims if the use of any such products or those
      Somanta licenses from third parties is alleged to have resulted in an adverse
      effect to the user of such product. Product liability claims may also be brought
      by clinical trial participants with respect to its product candidates. If such
      a
      claim is brought against Somanta, the cost of defending such a claim may
      adversely affect its business. In addition, regulatory approval for the
      commercial sale of products does not mitigate product liability risk. Any
      precautions Somanta takes may not be sufficient to avoid significant product
      liability exposure. Somanta obtained product liability and clinical trial
      insurance at levels which management deems reasonable. However, Somanta&#8217;s
      insurance coverage may not be adequate and may not cover all claims that may
      be
      brought against Somanta. The pharmaceutical industry has experienced increasing
      difficulty in maintaining product liability insurance coverage at reasonable
      levels, and substantial increases in insurance premium costs may render coverage
      economically impractical. To the extent that product liability insurance, if
      available, does not cover potential claims, Somanta will be required to
      self-insure the risks associated with those claims. The successful assertion
      of
      any uninsured product liability or other claim against Somanta could limit
      its
      ability to sell the applicable product or develop the applicable product
      candidate or result in monetary damages, any of which would have a material
      adverse effect on its business. In addition, future product labeling may include
      disclosure of additional adverse events, precautions and contra indications,
      which may adversely impact product sales.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>If
      Somanta loses key management, its business may suffer.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      is highly dependent on its Chief Executive Officer and its Executive Chairman
      to
      develop its products. Dr. Epenetos and Mr. Bruggeman have entered into
      employment agreements with Somanta for an initial term of one year, which term
      automatically extends for an additional one year period until either party
      gives
      the other written notice of termination at least 90 days prior to the end of
      the
      current term. To the best of Somanta&#8217;s knowledge, neither of the officers is
      near retirement age and neither, to Somanta&#8217;s knowledge, plans to leave the
      Company. If either of the executives was no longer employed by the Company,
      the
      development of its products could be delayed and otherwise would be adversely
      impacted. Dr. Epenetos is currently a practicing medical oncologist in the
      National Health Service in the United Kingdom. His practice is limited to one
      half day per week and this does not now, and Somanta has no reason to believe
      that it will in the future, interfere with his responsibilities as Somanta&#8217;s
      Chief Executive Officer.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta&#8217;s
      ability to compete may decline if Somanta does not adequately protect its
      proprietary rights.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      believes that its success will depend largely on its ability to obtain and
      maintain patent protection for its own inventions, to license the use of patents
      owned by third parties when necessary, to protect trade secrets and to conduct
      its business without infringing the proprietary rights of others. Somanta has
      obtained, or licensed the rights to, patents covering three of its four current
      product candidates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      patents licensed to Somanta expires at various times as follows</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">in
      2015
      for Angiolix related patents;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">between
      2011 and 2016 for the Sodium Phenylbutyrate related patents; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">in
      2015
      for the Alchemix related patents.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      patents expire, the products and processes described and claimed in those
      patents become generally available for use by the public, which will reduce
      Somanta&#8217;s ability to realize revenues from making products derived from those
      patents due to increased competition and potential limitations and will result
      in Somanta&#8217;s results of operations and cash flows relating to the future
      products being less favorable than they would be while the patent is valid.
      It
      is also possible that because of the extensive time required for development,
      testing and regulatory review of product candidates, before any of Somanta&#8217;s
      product candidates or the products developed by Somanta&#8217;s possible future
      collaborators can be commercialized, any related patent may expire or remain
      in
      force for only a short period of time following commercialization, thereby
      reducing any advantages of the patent. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, Somanta has filed a patent application on its fourth product
      candidate, Prodrax, a small molecule for use in the treatment of lung, breast,
      ovarian, colon, pancreatic, and esophageal cancers, and when appropriate, will
      file other patent applications with respect to its products and processes in
      the
      U.S. and in foreign countries. Somanta does not know, however,
      whether:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
      of
      its current or future patent applications will result in the issuance of
      patents;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
      of
      its issued patents will provide significant proprietary protection or commercial
      advantage; or</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
      of
      its issued patents will not be circumvented by others.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">33</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      patent positions of pharmaceutical medical products and biotechnology firms
      can
      be uncertain and involve complex legal and factual questions. It is possible
      that a third party may successfully challenge any of Somanta&#8217;s patents or any of
      the patents licensed to them. If that were to happen, Somanta would lose the
      right to prevent others from using the applicable technology.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Confidentiality
      agreements with employees and others may not adequately prevent disclosure
      of
      Somanta&#8217;s trade secrets and other proprietary information and may not adequately
      protect its intellectual property, which could limit its ability to
      compete.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Because
      Somanta operates in a highly technical field, Somanta relies in part on trade
      secret protection in order to protect its proprietary technology and processes;
      however, trade secrets are difficult to protect. Somanta enters into
      confidentiality and intellectual property assignment agreements with its
      corporate partners, employees, consultants, outside scientific collaborators,
      sponsored researchers and other advisors. These agreements generally require
      that the other party keep confidential and not disclose to third parties all
      confidential information developed by the party or made known to the party
      by
      Somanta during the course of the party&#8217;s relationship with them. These
      agreements also generally provide that inventions conceived by the party in
      the
      course of rendering services to Somanta will be its exclusive property. However,
      these agreements may not be honored and may not effectively assign intellectual
      property rights to Somanta. Enforcing a claim that a party illegally obtained
      and is using Somanta&#8217;s trade secrets is difficult, expensive and time consuming,
      and the outcome is unpredictable. In addition, courts outside the U.S. may
      be
      less willing to protect trade secrets. The failure to obtain or maintain trade
      secret protection could adversely affect Somanta&#8217;s competitive
      position.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>A
      dispute concerning the infringement or misappropriation of Somanta&#8217;s proprietary
      rights or the proprietary rights of others could be time-consuming and costly,
      and an unfavorable outcome could harm Somanta&#8217;s business.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">There
      is
      significant litigation in Somanta&#8217;s industry regarding patent and other
      intellectual property rights. If Somanta&#8217;s product development activities are
      found to infringe any such intellectual property rights of others, Somanta
      may
      have to pay significant damages.&#160;Somanta may need to resort to litigation
      to enforce a patent issued to us, protect its trade secrets, or determine the
      scope and validity of third-party proprietary rights. From time to time, Somanta
      may hire scientific personnel formerly employed by other companies involved
      in
      one or more areas similar to the activities conducted by it.&#160;Either Somanta
      or these individuals may be subject to allegations of trade secret
      misappropriation or other similar claims as a result of their prior
      affiliations. If Somanta becomes involved in litigation, it could consume a
      substantial portion of Somanta&#8217;s managerial and financial resources, regardless
      of whether Somanta wins or loses.&#160;Somanta may not be able to afford the
      costs of litigation. Any legal action against Somanta or its collaborators
      could
      lead to:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">payment
      of damages, potentially treble damages, if Somanta is found to have willfully
      infringed a party&#8217;s patent rights;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">injunctive
                or other equitable relief that may effectively block Somanta&#8217;s ability to
                further develop, commercialize and sell products;
                or</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                or its collaborators having to enter into license arrangements that
                may
                not be available on commercially acceptable terms, if at
                all.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      a
      result, significant litigation with respect to Somanta&#8217;s proprietary rights
      could prevent it from commercializing current or future product
      candidates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta&#8217;s
      product candidates must go through a lengthy regulatory approval process before
      Somanta can market or sell them, which could delay or prevent its ability to
      sell that product commercially.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      has a variety of product candidates under development. All new product
      candidates must be the subject of an FDA-approved new drug application before
      they can be marketed in the U.S. The FDA has the authority to determine what
      testing procedures are appropriate for a particular product candidate and,
      in
      some instances, has not published or otherwise identified guidelines as to
      the
      appropriate procedures. The required product candidate testing and approval
      process can take a number of years and require the expenditure of substantial
      resources. Testing of any product under development may not result in a
      commercially viable product.&#160;Further, Somanta may decide to modify a
      product candidate in testing, which could materially extend the test period
      and
      increase the development cost of the product candidate in question. Even after
      the time and expenses associated with the approval process, regulatory approval
      by the FDA may not be obtained for any product Somanta develops. In addition,
      delays or rejection may be encountered based upon changes in FDA policy during
      the period of product development and FDA review. Any delay or failure in
      obtaining required approval could have a material adverse effect on Somanta&#8217;s
      ability to generate revenues from the particular product candidate. Even if
      regulatory approval is obtained, it may impose significant restrictions on
      the
      indicated uses, conditions for use, labeling, advertising, promotion and/or
      marketing of such products, and requirements for post-approval studies,
      including additional research and development and clinical trials.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">34</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Furthermore,
      even if the required FDA approval has been obtained with respect to a product
      in
      the U.S., foreign regulatory approval of a product must be obtained prior to
      Somanta&#8217;s marketing the product internationally. Foreign approval procedures
      vary from country to country and the time required for approval may delay or
      prevent marketing.&#160;In certain instances, Somanta or its collaborative
      partners may seek approval to market and sell its products outside the U.S.
      before submitting an application for approval to the FDA. Although there is
      now
      a centralized European Union approval mechanism for new pharmaceutical products
      in place, each European Union country may nonetheless impose its own procedures
      and requirements, many of which are time consuming and expensive, and some
      European Union countries require price approval as part of the regulatory
      process. Thus, there can be substantial delays in obtaining regulatory approval
      from both the FDA and foreign regulatory authorities after the relevant
      application is filed.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta&#8217;s
      industry is subject to extensive government regulation in general, which makes
      it more expensive to operate Somanta&#8217;s business.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Virtually
      all aspects of Somanta&#8217;s business are regulated by federal and state statutes
      and governmental agencies in the U.S. and other countries. Failure to comply
      with applicable statutes and government regulations could have a material
      adverse effect on its ability to develop and sell product candidates which
      would
      have a negative impact on its cash flow. The development, testing,
      manufacturing, processing, quality, safety, efficacy, packaging, labeling,
      record-keeping, distribution, storage and advertising of pharmaceutical
      products, and disposal of waste products arising from these activities, are
      subject to regulation by one or more federal agencies. These activities are
      also
      regulated by similar state and local agencies and equivalent foreign
      authorities. In Somanta&#8217;s agreements with vendors providing any portion of these
      types of services, Somanta seeks assurance that its vendors comply and will
      continue to maintain compliance with all applicable rules and regulations;
      however, Somanta cannot be certain that its most significant vendors will
      continue to comply with these rules and regulations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, the regulatory requirements applicable to any aspect of its business
      may be modified in the future. Somanta cannot determine what effect changes
      in
      regulations or statutes or legal interpretations may have on its business in
      the
      future. Such changes could require modifications to manufacturing methods,
      expanded or different labeling, the recall, replacement or discontinuation
      of
      certain products, additional record keeping and expanded documentation of the
      properties of certain products or added scientific substantiation. Any changes
      or new legislation could have a material adverse effect on Somanta&#8217;s ability to
      develop and sell products and, therefore, to generate revenue and cash
      flow.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      use of Somanta&#8217;s products may be limited or eliminated by professional
      guidelines which would decrease the sales of these products and therefore,
      its
      revenues and cash flow.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition to government agencies, private health/science foundations and
      organizations involved in various diseases may also publish guidelines or
      recommendations to healthcare and patient communities. These private
      organizations may make recommendations that affect the use of therapies, drugs
      or procedures, including products developed by Somanta. These recommendations
      may relate to matters such as usage, dosage, route of administration and use
      of
      concomitant therapies. Recommendation or guidelines that are followed by
      patients and healthcare providers and that result in, among other things,
      decreased use or elimination of products developed by Somanta could have a
      material adverse effect on Somanta&#8217;s revenue and cash flow.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      issued shares of its Series A Convertible Preferred Stock which carries with
      it
      a liquidation preference over its common stock.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      issued 591.6318 shares of its Series A Convertible Preferred Stock which
      includes a liquidation preference over its common stock. If Somanta is
      liquidated in a bankruptcy or otherwise wound down, the holders of its Series
      A
      Convertible Preferred Stock would receive the first $5.9 million in value of
      Somanta&#8217;s assets and if the value of its assets is not enough to satisfy the
      foregoing amount, a holder of Somanta common stock will not receive any proceeds
      from such liquidation or winding down.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      market price of Somanta&#8217;s common stock could be volatile and your investment
      could suffer a decline in value.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      September 12, 2006 Somanta&#8217;s common stock began to trade on the OTC Bulletin
      Board under the symbol SMPM. The market price for Somanta&#8217;s common stock, as
      with many emerging biopharmaceutical companies, is likely to be volatile and
      could be susceptible to wide price fluctuations due to a number of internal
      and
      external factors, many of which are beyond Somanta&#8217;s control,
      including:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">35</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">quarterly
      variations in operating results and overall financial condition;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">efficacy
      of its products or the products of its competitors;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">economic
      and political developments affecting the economy as a whole;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">short-selling
      programs;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
      stock
      market&#8217;s perception of the biopharmaceutical industry as a whole;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">changes
      in earnings estimates by analysts;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">additions
      or departures of key personnel; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">sales
                of substantial numbers of shares of common stock or securities convertible
                into or exercisable for its common
                stock.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, the price of Somanta&#8217;s common stock is likely to be highly volatile
      since it may take many years before any of its licensed products will receive
      final regulatory approval to be marketed in the U.S. or elsewhere.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      has a small public float which results in a thin trading market for its
      shares.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      public float of Somanta common stock is small in comparison to its total shares
      outstanding on a fully diluted basis, resulting in a very thin public market
      for
      the trading of its shares, and Somanta expects limited trading volume for the
      foreseeable future. Limited trading volume entails a high degree of volatility
      in its stock price. This limited liquidity and volatile stock price will likely
      continue for the foreseeable future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      application of the &#8220;penny stock&#8221; rules could adversely affect the market price
      of Somanta&#8217;s common stock and increase your transaction costs to sell those
      shares.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      long
      as the trading price of Somanta&#8217;s common stock is below $5.00 per share, the
      open-market trading of Somanta common stock will be subject to the &#8220;penny stock&#8221;
rules. The penny stock rules impose additional sales practice requirements
      on
      broker-dealers who sell securities to persons other than established customers
      and accredited investors (generally those with assets in excess of $1 million
      or
      annual income exceeding $200,000 or $300,000 together with their spouses).
      For
      transactions covered by these rules, the broker-dealer must make a special
      suitability determination for the purchase of securities and have received
      the
      purchaser&#8217;s written consent to the transaction before the purchase.
      Additionally, for any transaction involving a penny stock, unless exempt, the
      broker-dealer must deliver, before the transaction, a disclosure schedule
      prescribed by the Securities and Exchange Commission relating to the penny
      stock
      market. The broker-dealer also must disclose the commissions payable to both
      the
      broker-dealer and the registered representative and current quotations for
      the
      securities. Finally, monthly statements must be sent disclosing recent price
      information on the limited market in penny stocks.&#160;These
      additional</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">burdens
      imposed on broker-dealers may restrict the ability or decrease the willingness
      of broker-dealers to sell Somanta common stock, and may result in decreased
      liquidity of Somanta common stock and increased transaction costs for sales
      and
      purchases of Somanta common stock as compared to other securities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Your
      ability to influence corporate decisions may be limited because Somanta&#8217;s major
      stockholders own a large percentage of its common stock.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
      significant stockholders own a substantial portion of its outstanding stock.
      As
      a result of their stock ownership, if these stockholders were to choose to
      act
      together, they may be able to effectively control all matters submitted to
      its
      stockholders for approval, including the election of directors, approval of
      any
      merger or other business combination involving it, its acquisition or
      disposition of assets, future issuances of common stock or other securities
      by
      it, its incurrence of debt or obtaining other sources of financing, and the
      payment of dividends on its common stock. This concentration of voting power
      could delay or prevent an acquisition of Somanta on terms that other
      stockholders may desire. In addition, as the interests of Somanta&#8217;s majority and
      minority stockholders may not always be the same, this large concentration
      of
      voting power may lead to stockholder votes that may be inconsistent with your
      interests or what you perceive to be the best interest of Somanta as a
      whole.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">36</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta&#8217;s
      charter documents and Delaware law may deter potential acquirers of Somanta&#8217;s
      business and may thus depress its stock.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
      certificate of incorporation and bylaws contain provisions that could delay
      or
      prevent a change of control of its company that its stockholders might consider
      favorable. In addition, Somanta is governed by the provisions of Section 203
      of
      the Delaware General Corporation Law, which may discourage, delay or prevent
      certain business combinations with stockholders owning 15% or more of its
      outstanding voting stock. These and other provisions in its charter documents
      may make it more difficult for stockholders or potential acquirers to initiate
      actions that are opposed by the then-current board of directors, including
      delaying or impeding a merger, tender offer, or proxy contest or other change
      of
      control transaction involving us.&#160;Any delay or prevention of a change of
      control transaction could cause stockholders to lose a substantial premium
      over
      the then current market price of their shares.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta&#8217;s
      certificate of incorporation authorizes the issuance of up to 100,000,000 shares
      of common stock and 20,000,000 shares of &#8220;blank check&#8221; preferred stock with such
      designations, rights and preferences as may be determined from time to time
      by
      its board of directors.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
      to its certificate of incorporation, Somanta may issue shares of common and
      preferred stock in the future that will dilute Somanta&#8217;s existing stockholders
      without prior notice or approval of its stockholders. Additionally, Somanta&#8217;s
      board of directors does not intend to solicit further approval from its
      stockholders prior to designating the rights, preferences or privileges of
      any
      such preferred stock, including, without limitation, rights as to dividends,
      conversion, voting, liquidation preference or redemption, which in each case
      may
      be superior to the rights of its common stock. The rights of the holders of
      common stock will be subject to, and may be adversely affected by, the rights
      of
      the holders of any preferred stock that may be issued in the future. The
      issuance of preferred stock, while providing desirable flexibility in connection
      with possible acquisitions and other corporate purposes, could also have the
      effect of discouraging, delaying or preventing a change of control, and
      preventing holders of common stock from realizing a premium on their
      shares.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      does not plan on declaring or paying dividends on its common stock; however,
      its
      Series A Convertible Preferred Stock has an accruing 8%&#160;per annum dividend.
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      has never declared or paid a dividend on its common stock, nor does Somanta
      have
      any plans to do so in the future.&#160;Dividends on its Series A Convertible
      Preferred Stock accrue at a rate of 8%&#160;per annum and are payable by Somanta
      in cash or shares of its common stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">37</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>CAUTIONARY
      STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
      proxy statement/prospectus and the other documents incorporated by reference
      into this proxy statement/prospectus contain or may contain &#8220;forward-looking
      statements&#8221; intended to qualify for the safe harbor from liability established
      by the Private Securities Litigation Reform Act of 1995. These statements can
      be
      identified by the fact that they do not relate strictly to historical or current
      facts. Access and Somanta have based these forward-looking statements on its
      current expectations about future events. Further, statements that include
      words
      such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;project,&#8221; &#8220;might,&#8221; &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;anticipate,&#8221;
&#8220;intend,&#8221; &#8220;could,&#8221; &#8220;would,&#8221; &#8220;estimate,&#8221; &#8220;continue&#8221; or &#8220;pursue,&#8221; or the negative
      of these words or other words or expressions of similar meaning, may identify
      forward-looking statements. These forward-looking statements are found at
      various places throughout this proxy statement/prospectus and the other
      documents incorporated by reference. These forward-looking statements,
      including, without limitation, those relating to future actions, new projects,
      strategies, future performance, the outcome of contingencies such as legal
      proceedings and future financial results, in each case relating to Access or
      Somanta, respectively, wherever they occur in this proxy statement/prospectus
      or
      the other documents incorporated by reference herein, are necessarily estimates
      reflecting the best judgment of the respective management of Access and Somanta
      and involve a number of risks and uncertainties that could cause actual results
      to differ materially from those suggested by the forward-looking statements.
      These forward-looking statements should, therefore, be considered in light
      of
      various important factors, including those set forth in this proxy
      statement/prospectus and incorporated by reference into this proxy
      statement/prospectus. In addition to the risk factors identified elsewhere,
      important factors that could cause actual results to differ materially from
      estimates or projections contained in the forward-looking statements include,
      without limitation: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                effects of local and national economic, credit and capital market
                conditions on the economy in general, and on the pharmaceutical industry
                in particular, and the effects of foreign exchange rates and interest
                rates; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability to obtain the approvals of Somanta&#8217;s stockholders, to obtain or
                meet the closing conditions in the merger agreement, including applicable
                regulatory and tax requirements, and to otherwise complete the merger
                in a
                timely manner; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability to timely and cost-effectively integrate the operations of
                Access
                and Somanta; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability to realize the synergies and other perceived advantages resulting
                from the merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">access
                to available and feasible financing on a timely basis;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability to retain key personnel both before and after the merger;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability of each company to successfully execute its business strategies;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                extent and timing of market acceptance of new products or product
                indications; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability of each company to procure, maintain, enforce and defend
                its
                patents and proprietary rights; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">changes
                in laws, including increased tax rates, regulations or accounting
                standards, third party relations and approvals, and decisions of
                courts,
                regulators and governmental bodies;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">litigation
                outcomes and judicial actions, including costs and existing or additional
                litigation associated with the merger, and legislative action, referenda
                and taxation; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">acts
                of war or terrorist incidents; and </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                effects of competition, including locations of competitors and operating
                and market competition. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">You
      are
      cautioned not to place undue reliance on these forward-looking statements,
      which
      speak only as of the date of this proxy statement/prospectus or, in the case
      of
      documents incorporated by reference, as of the date of those documents. Neither
      Access nor Somanta undertakes any obligation to publicly update or release
      any
      revisions to these forward-looking statements to reflect events or circumstances
      after the date of this proxy statement/prospectus or to reflect the occurrence
      of unanticipated events, except as required by law. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">38</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>THE
      SOMANTA SPECIAL MEETING </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_48"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Date,
      Time and Place </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      special meeting of Somanta stockholders will be held on ___day, ______, 2007,
      at
      9:00 a.m. local time at Somanta&#8217;s principal executive offices located at 19200
      Von Karman Ave., Suite 400, Irvine, California 92612.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_49"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Purpose;
      Other Matters </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      the
      Somanta special meeting, the Somanta stockholders will be asked to consider
      and
      vote upon a proposal to approve and adopt the merger agreement and approve
      the
      merger contemplated by the merger agreement. Somanta stockholders will also
      be
      asked to consider and vote upon such other business as may properly come before
      the special meeting, or any adjournment or postponement of the special meeting.
      Somanta is not aware of any business to be acted upon at the Somanta special
      meeting other than the proposals set forth in this proxy statement/prospectus.
      If, however, other matters incident to the conduct of the special meeting are
      properly brought before the Somanta special meeting, or any adjournment or
      postponement of the special meeting, the persons named as proxies will vote
      in
      accordance with their best judgment with respect to those matters. If you vote
      &#8220;AGAINST&#8221; the proposal, the proxies are not authorized to vote for any
      adjournments, postponements, continuations or reschedulings of the meeting,
      including for the purpose of soliciting additional proxies, unless you so
      indicate by marking the appropriate box on the proxy card. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_50"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Recommendation
      of the Somanta Board of Directors </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">After
      careful consideration, the Somanta board of directors, having determined that
      the merger is advisable, fair to and in the best interests of Somanta and its
      stockholders, approved the merger agreement and the merger contemplated by
      the
      merger agreement. Accordingly, the Somanta board of directors recommends that
      Somanta&#8217;s stockholders vote &#8220;FOR&#8221; the proposal to approve and adopt the merger
      agreement and the merger contemplated by the merger agreement. Access has
      received voting agreements from certain Somanta stockholders representing
      approximately 85% of Somanta&#8217;s outstanding common stock and approximately 60% of
      its outstanding preferred stock, or 70.84% of Somanta&#8217;s outstanding voting stock
      (on an as-converted basis), under which the parties, subject to certain limited
      exceptions, have granted an irrevocable proxy to Access to vote their shares
      in
      favor of the merger. A form of the Voting Agreement is attached as Annex
      C.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_51"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Record
      Date; Outstanding Shares; Voting Rights </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Holders
      of record of Somanta common stock </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
      preferred stock </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">at
      the
      close of business on the Somanta record date, _____, 2007, are entitled to
      notice of, and to vote at, the Somanta special meeting. As of the Somanta record
      date, there were 15,459,137 shares of Somanta common stock outstanding and
      entitled to vote at the special meeting, held by approximately 714 holders
      of
      record</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      and
      591.6318 shares of Series A Convertible Preferred Stock outstanding and entitled
      to vote at the special meeting, held by&#160;8 holders of record</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      holder of Somanta common stock on the Somanta record date is entitled to one
      vote for each share of Somanta common stock owned as of the Somanta record
      date
      on the proposal to approve and adopt the merger agreement and the merger
      contemplated by the merger agreement. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      holder of Somanta Series A Convertible Preferred Stock on the Somanta record
      date is entitled to 16,667 votes for each share of Somanta Series A Convertible
      Preferred Stock (representing the number of shares of common stock into which
      one (1) share of Series A Convertible Preferred Stock was then convertible)
      owned as of the Somanta record date on the proposal to approve and adopt the
      merger agreement and the merger contemplated by the merger
      agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      list of
      Somanta stockholders will be available for review at the Somanta special meeting
      and at the executive offices of Somanta during regular business hours for a
      period of ten days before the Somanta special meeting. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_52"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Admission
      to the Special Meeting </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Only
      Somanta stockholders, including joint holders, as of the close of business
      on
      the Somanta record date and other persons holding valid proxies for the special
      meeting will be entitled to attend the special meeting. All stockholders and
      their proxies should be prepared to present photo identification. In addition,
      record holders&#8217; names are subject to verification against the list of record
      holders on the record date prior to being admitted to the special meeting.
      Somanta stockholders who are not record holders but hold shares through a broker
      or nominee (</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>i.e.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,&#160;in
      &#8220;street name&#8221;) should be prepared to provide proof of beneficial ownership on
      the record date, such as a recent account statement prior to the Somanta record
      date, or similar evidence of ownership. Persons who do not provide photo
      identification or comply with the other procedures outlined above upon request
      may not be admitted to the special meeting. If you plan to attend the Somanta
      special meeting and wish to vote in person, you will be given a ballot at the
      special meeting. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">39</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_53"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Quorum
      and Vote Required </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      quorum
      of stockholders is necessary to hold a valid meeting of Somanta stockholders.
      A
      majority of the shares of Somanta common stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      and
      preferred stock, taken together as a single class,</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      issued
      and outstanding and entitled to vote on the record date must be present in
      person or by proxy at the Somanta special meeting for a quorum to be
      established. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Approval
      and adoption of the merger agreement and the merger contemplated by the merger
      agreement, requires the affirmative vote of (i) the holders of a majority of
      the
      outstanding shares of Somanta common stock and Somanta Series A preferred stock,
      voting together as a single class on an as-converted basis, and (ii) the holders
      of a majority of the outstanding shares of Somanta Series A preferred stock,
      voting separately as a class.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_54"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Voting
      by Somanta Directors and Executive Officers </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      of the
      Somanta record date for the Somanta special meeting, the directors and executive
      officers of Somanta and their affiliates beneficially owned and were entitled
      to
      vote approximately 17,937,213 shares of Somanta common stock (on an as-converted
      basis), after the exercise by SCO Capital Partners LLC and SCO Financial Group
      LLC of warrants to purchase 1,166,534 shares of common stock of Somanta, which
      represents approximately 70.84% of the shares of Somanta common stock
      outstanding (on an as-converted basis) on that date. In addition, the directors
      and executive officers of Somanta and their affiliates beneficially owned and
      were entitled to vote approximately 353.6318 shares of Somanta preferred stock,
      which represents approximately 55.6% of the shares of Somanta preferred stock
      outstanding on that date. Approval of the transaction will require an
      affirmative vote of (i)&#160;12,685,252 number of shares or 50.1% of the shares
      of Somanta common stock </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
      preferred stock (on an as-converted basis) voting together as a single class,
      and (ii) 296.408 number of shares or 50.1% of the shares of Somanta preferred
      stock, voting separately as a class, in each case </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">outstanding
      on the Somanta record date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Voting
      Agreements</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      received voting agreements from certain Somanta stockholders representing
      approximately 85% of Somanta&#8217;s outstanding common stock and approximately 60% of
      its outstanding preferred stock or 70.84% of Somanta&#8217;s outstanding voting stock
      on an as-converted basis under which the parties, subject to certain limited
      exceptions, have granted an irrevocable proxy to Access to vote their shares
      in
      favor of the merger. A form of the Voting Agreement is attached as Annex
      C.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_55"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Voting;
      Proxies, Revocation </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>General
      </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      stockholders of record may vote their shares by attending the Somanta special
      meeting and voting their shares in person, by completing, signing and dating
      their proxy cards and mailing them in the enclosed pre-addressed envelopes,
      or</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">if
      available, by faxing a completed proxy card in accordance with the instructions
      set forth in this document</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      stockholders holding shares of Somanta common stock in &#8220;street name,&#8221; which
      means that their shares are held of record by a broker or nominee, may vote
      by
      mail by completing, signing and dating the voting instruction forms for the
      Somanta special meeting provided by their brokers or nominees and returning
      their voting instruction forms to the record holders of their shares. Even
      if
      you plan to attend the meeting, Somanta recommends that you submit a proxy
      prior
      to the meeting. You can always change your vote as described below.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Voting
      by Proxy </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      properly signed proxies that are received prior to the Somanta special meeting
      and that are not revoked will be voted at the special meeting according to
      the
      instructions indicated on the proxies. If Somanta stockholders of record do
      not
      include instructions on how to vote their properly signed proxy cards for the
      Somanta special meeting, their shares will be voted &#8220;FOR&#8221; the proposal to
      approve and adopt the merger agreement and the merger contemplated by the merger
      agreement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">You
      may
      receive more than one proxy card depending on how you hold your shares.
      Generally, you need to sign and return all of your proxy cards to vote all
      of
      your shares. For example, if you hold shares through someone else, such as
      a
      stockbroker, you may get proxy material from that person. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">40</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Changing
      Your Vote </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      stockholders may change their votes at any time prior to the vote at the Somanta
      special meeting. Somanta stockholders of record may change their votes by
      granting new proxies bearing a later date (which automatically revoke the
      earlier proxies) or by attending the Somanta special meeting and voting in
      person. Attendance at the Somanta special meeting in and of itself, will not
      cause previously granted proxies to be revoked, unless Somanta stockholders
      so
      request. Somanta stockholders may also revoke their proxies by notifying the
      Secretary of Somanta in writing. Written notices of revocation and other
      communications with respect to revocation of Somanta proxies should be addressed
      to: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Pharmaceuticals, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">19200
      Von
      Karman Avenue, Suite 400</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Irvine,
      California 92612</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Attn:
      Secretary </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      stockholders who hold their Somanta shares in street name may change their
      votes
      by submitting new voting instructions to the record holders of their shares
      or
      by attending the Somanta special meeting and voting in person, provided that
      they have obtained a signed legal proxy from the record holders of their shares
      giving them the right to vote their shares at the Somanta special meeting.
      Somanta stockholders who hold their shares in street name should contact the
      record holders of their shares for information about obtaining legal proxies
      for
      the Somanta special meeting. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_56"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Abstentions
      and Broker Non-Votes </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Abstentions
      and &#8220;broker non-votes&#8221; will be counted for the purpose of determining whether a
      quorum is present at the Somanta special meeting. Brokers who hold shares of
      Somanta common stock in &#8220;street name&#8221; for a beneficial owner of those shares
      typically have the authority to vote in their discretion on &#8220;routine&#8221; proposals
      when they have not received instructions from beneficial owners. However,
      brokers are not allowed to exercise their voting discretion with respect to
      the
      approval of matters which the National Association of Security Dealers
      determines to be &#8220;non-routine,&#8221; such as the proposal to approve and adopt the
      merger agreement and the merger contemplated by the merger agreement, without
      specific instructions from the beneficial owner. These non-voted shares are
      referred to as &#8220;broker non-votes.&#8221; If a broker holds a Somanta stockholder&#8217;s
      common stock in &#8220;street name,&#8221; that broker will vote shares held in &#8220;street
      name&#8221; only to the extent the Somanta stockholder provides instructions on how to
      vote by filling out the voting instruction form sent by the broker with this
      proxy statement/prospectus. Shares held by a broker or nominee that are not
      voted because the customer has not provided instructions to the broker or
      nominee will have the same effect as a vote &#8220;against&#8221; the proposal.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      purpose of determining whether the proposal to approve and adopt the merger
      agreement and to approve the merger contemplated by the merger agreement has
      received the requisite number of affirmative votes, abstentions will be counted
      and have the same effect as a vote &#8220;against&#8221; the proposal. Failing to vote will
      also have the same effect as a vote &#8220;against&#8221; the proposal. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_57"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Postponements
      and Adjournments </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Postponements
      and adjournments may be made for the purpose of, among other things, soliciting
      additional proxies. Pursuant to the Somanta bylaws, Somanta stockholders present
      in person or represented by proxy at the Somanta special meeting have the power
      to adjourn the meeting without notice other than announcement at the meeting.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_58"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Proxy
      Solicitation </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      is soliciting proxies for the Somanta special meeting from Somanta stockholders.
      Somanta will bear the entire cost of soliciting proxies from Somanta
      stockholders, a cost estimated to be approximately $75,000, except that Somanta
      and Access have each agreed to share equally all expenses incurred in connection
      with the filing with the SEC of the registration statement of which this proxy
      statement/prospectus forms a part, and the printing and mailing of this proxy
      statement/prospectus and related proxy materials. In addition to the
      solicitation of proxies by mail, Somanta will request that brokers, banks and
      other nominees send proxies and proxy materials to the beneficial owners of
      Somanta common stock held by them and secure their voting instructions, if
      necessary. Somanta will reimburse those record holders for their reasonable
      expenses. Somanta also may use its regular employees, who will not be specially
      compensated, to solicit proxies from Somanta stockholders, either personally
      or
      by telephone, Internet, facsimile or special delivery letter. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Please
      do
      not send in any Somanta stock certificates with your proxy cards or voting
      instruction forms. American Stock Transfer &amp; Trust Company, the exchange
      agent for the merger, will send transmittal forms with instructions for the
      surrender of certificated representing shares of Somanta common stock to former
      Somanta stockholders shortly after the merger is completed. If you hold your
      shares of Somanta common stock in book entry, instructions for the exchange
      of
      your shares for the merger consideration will be included in the transmittal
      forms sent to you by the exchange agent. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_59"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Assistance
      </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      you
      need assistance in completing your proxy card or have questions regarding the
      Somanta special meeting, please contact Somanta Investor Relations at (919)
      477-8090 or write to Somanta Pharmaceuticals, Inc., 19200 Von Karman Ave.,
      Suite
      400, Irvine, California 92612, Attn: Chief Financial Officer. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">41</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>THE
      MERGER</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>The
      following is a description of the material aspects of the merger, including
      the
      merger agreement. While Access and Somanta believe that the following
      description covers the material terms of the merger, the description may not
      contain all of the information that is important to you. Access and Somanta
      encourage you to read carefully this entire proxy statement/prospectus,
      including the merger agreement attached to this proxy statement/prospectus
      as
      Annex A, for a more complete understanding of the merger. </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Background
      of the Merger</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_62"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Over
      the
      past several years, the Somanta board of directors and members of Somanta
      management have worked to secure Somanta&#8217;s future by broadening its </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">drug
      candidate pipeline and obtaining the funds necessary to develop and
      commercialize these drug candidates</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      As part
      of this process, the Somanta board of directors and management have considered
      a
      range of strategic alternatives, including </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">public
      and private equity and debt financings, corporate partnering and licensing
      strategies and more recently a merger strategy, all with a view to increasing
      stockholder value.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      January and February 2006, members of management began to identify and meet
      with
      investment banking firms to discuss their interest in serving as a placement
      agent for Somanta in connection with raising additional financing needed for
      research and development purposes and for general working capital subsequent
      to
      its becoming a public reporting company.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, in April and May 2006, Somanta held meetings with certain
      pharmaceutical and biopharmaceutical companies for the purpose of exploring
      the
      possibility of licensing one or more drug candidates to such pharmaceutical
      or
      biopharmaceutical companies. Somanta ultimately identified one pharmaceutical
      company that expressed interest in licensing the rights to Somanta&#8217;s huBrE-3 mAb
      product candidate, and that entity began its due diligence process with respect
      to that drug candidate.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      June
      2006, Somanta engaged Merriman Curhan Ford (&#8220;Merriman&#8221;) to serve as its
      exclusive financial advisor for the purpose of assisting Somanta in raising
      equity or debt financing necessary to continue the development of Somanta&#8217;s
      other drug candidates. From June to December 2006, members of Somanta&#8217;s
      management team made presentations at a number of investor conferences in
      connection with fundraising efforts and met with certain potential investors
      who
      expressed an interest in Somanta. In addition, during this time period Somanta
      held discussions with several United Kingdom-based investment banks about the
      prospect of a dual listing of Somanta&#8217;s common stock on the AIM market and a
      potential fundraising effort in Europe.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      June
      2006, the pharmaceutical company with whom Somanta was discussing a potential
      license and development agreement related to the huBrE-3 mAb product candidate
      terminated those discussions and elected not to license the product candidate
      from Somanta.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      September 2006, Dr. Epenetos identified a United Kingdom-based company, on
      whose
      board of directors he served and was a principal owner, that had an interest
      in
      discussing a potential strategic transaction or merger given the similarities
      in
      each company&#8217;s drug</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      candidate pipeline. The board of directors of Somanta authorized Somanta&#8217;s
      management team to begin to explore such a potential transaction. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      October 2006, Somanta&#8217;s placement agent informed Somanta that investor interest
      was limited due to a combination of factors, including factors that were
      adversely affecting public reporting companies that had a public float with
      a
      value of less than $75,000,000, as was the case with Somanta. In addition,
      in
      early November of 2006, after preliminary discussions, the United Kingdom-based
      company identified by Dr. Epenetos discontinued any discussion related to a
      possible strategic transaction or merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January 9, 2007, Somanta&#8217;s Chief Executive Officer, Agamemnon Epenetos, and
      Executive Chairman, Terrance J. Bruggeman met with Access&#8217; President and Chief
      Executive Officer, Stephen Seiler, and Rosemary Mazanet MD, Vice Chairman of
      Access, at the J P Morgan Chase Healthcare Conference in San Francisco. The
      meeting was arranged by members of SCO Financial Group. The meeting was also
      attended by Mark Alvino, a Managing Director of SCO Financial Group and a member
      of the Board of Directors of Access. The purpose of the meeting was to discuss
      a
      possible relationship between the two companies.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 6, 2007, Dr. Epenetos met with Mr. Seiler and Dr. Mazanet at the SCO
      Financial Group offices in New York City. Also in attendance were Mr. Alvino,
      Steve Rouhandeh Chief Executive Officer of SCO Capital Group and Jeffrey Davis,
      President of SCO Financial Group, and Chairman of the Board of</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      and a director of Somanta. The purpose of the meeting was to continue the
      exploratory conversations with respect to a proposed strategic transaction
      or a
      potential merger transaction between the two companies.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">42</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 13, 2007, at a regularly scheduled meeting of the Somanta board of
      directors, Dr. Epenetos gave a presentation related to his discussions with
      Access as well as Access&#8217; business and drug candidate pipeline and he stated his
      belief</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      that
      such a relationship or combination could help broaden Somanta&#8217;s </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">drug
      candidate pipeline and strengthen its research and development
      capabilities</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      more
      quickly and effectively than other realistic alternatives available to
      Somanta.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 15, 2007, after informal discussions among management and the Access
      Board of Directors, Access submitted a non-binding letter of intent to Somanta
      which was provided to the Somanta Board of Directors and to Somanta&#8217;s outside
      counsel the same day. Informal discussions were held among members of management
      and members of the Somanta board, including Mr. Davis with respect to the
      proposal and alternatives available to Somanta. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 16, 2007, Dr. Epenetos signed the non-binding letter of intent, which
      was conditioned on, among other things, the satisfactory completion of each
      company&#8217;s due diligence investigation of the other and the negotiation and
      execution of a definitive merger agreement. On February 21, 2007, the companies
      issued a joint press release announcing the non-binding letter of intent, and
      on
      February</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      22,
      2007, each of Dr. Epenetos and Mr. Seiler participated in an Access-sponsored
      investor conference call with investors of Access for the purpose of answering
      questions related to the proposed transaction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">From
      February 23, 2007 through April 17, 2007, each party engaged in a due diligence
      investigation of the other party, including, without limitation, a review of
      the
      relevant intellectual property and other assets, as well as a complete financial
      and legal review.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      March
      9, 2007, Access through its outside counsel, Bingham McCutchen LLP, provided
      to
      Somanta a first draft of a proposed merger agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      March
      15, 2007, at a special meeting of Somanta&#8217;s board of directors, the board of
      directors determined, due to the various conflicts of interest resulting from
      the proposed transaction, that it</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      would be
      in the best interests of Somanta</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8217;s
      stockholders and other relevant corporate constituencies that the Board appoint
      a special committee of disinterested directors to (i) evaluate the merits of
      the
      transaction, (ii) to oversee the negotiation of the merger agreement, and (iii)
      ultimately to recommend to the full Somanta board whether or not to approve
      the
      final fully negotiated merger agreement. It was determined at this meeting
      that
      each of John Gibson and Kathleen Van Sleen was sufficiently independent and
      disinterested with respect to the proposed transaction to function as such
      special committee. In addition, the special committee was authorized to engage
      an independent financial advisor for the purpose of obtaining an opinion as
      to
      the fairness of the transaction from a financial point of view to the
      stockholders of Somanta. Please see the discussion below under the heading
&#8220;The
      Somanta Special Committee&#8221; for a more complete description of the Somanta
      special committee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">From
      March 15 through April 17, 2007, the parties negotiated the final terms of
      the
      merger agreement. The Somanta special committee formally met on March 15, 2007,
      March 28, 2007, March 29, 2007, April 3, 2007 and April 12, 2007 for the purpose
      of discussing the terms of the proposed merger agreement and directing
      management with respect to the same as well as to discuss the engagement of
      a
      financial advisor who would render an opinion as to the fairness of the
      transaction from a financial point of view. In addition, the special committee
      received and responded to reports from management with respect to the merger
      agreement negotiations on each of March 9, 2007, March 16, 2007, March 30,
      2007,
      April 6, 2007 and April 11, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
      this period of time, Ms. Van Sleen interviewed three different potential
      financial advisors; however, the special committee ultimately concluded that
      one
      of the financial advisors was not sufficiently independent to render the
      requisite opinion and that Somanta did not have the resources available to
      it to
      pay to either of the other two or any other qualified</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      independent financial advisor the significant up front cash payment needed
      to
      engage such a financial advisor for this purpose.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      a
      meeting of the special committee held on April 12, 2007, Mr. Bruggeman reported
      as to the resolution of each of the open business, legal and financial issues
      related to the terms of the merger agreement. Mr. Bruggeman also provided the
      special committee with an analysis of the value of the consideration to be
      received by stockholders of Somanta as of that date as well as the treatment
      of
      other relevant corporate constituencies in the merger, including option holders,
      warrant holders, employees and creditors. Mr. Bruggeman also reported to the
      special committee with respect to each of the alternative transactions pursued
      in the prior fifteen months, Somanta&#8217;s financial condition and the likely
      liquidation value</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      of the
      company. The special committee then determined that based on the foregoing
      reports and analyses and its own independent analysis of Somanta&#8217;s financial
      condition and alternatives, the transaction and the terms of the merger
      agreement as presented to the special committee at this meeting were fair,
      advisable and in the best interests of the company, its stockholders and each
      of
      the other relevant corporate constituencies and that it would recommend to
      the
      full board to approve the merger agreement and the transactions contemplated
      thereby.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">43</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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      </div>
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        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      a
      special meeting of the board of directors held on April 13, 2007, at which
      all
      the members of the Somanta board of directors were in attendance with the
      exception of Jeffrey Davis. Also in attendance was Mr. Rouhandeh and Mr. Alvino,
      representatives of SCO Capital Group and SCO Financial Group as well as a
      representative of Foley &amp; Lardner LLP, outside counsel to Somanta. At this
      meeting, (i) Mr. Bruggeman provided a report and analysis related to the terms
      of the proposed transaction, including, without limitation, the value of the
      consideration to be received in the transaction by the stockholders of Somanta
      as of that date and the conditions to closing the transaction, (ii) the
      representative of Foley &amp; Lardner reviewed the terms of the merger agreement
      and the relevant legal approvals necessary to consummate the merger, (iii)
      Mr.
      Rouhandeh and Mr. Alvino were asked to provide a report regarding the status
      of
      Access&#8217; proposed fundraising effort and financial condition, and (iv) the
      special committee gave its formal recommendation to the full board of directors
      to approve the merger agreement. After deliberating, the Board determined that
      the merger agreement and the transactions contemplated thereby, including the
      merger, were fair to, advisable and in the best interests of the stockholders
      of
      Somanta and each other relevant corporate constituency and voted to approve
      the
      terms of the merger agreement and the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      April
      26, 2007, after the Board&#8217;s approval of the merger agreement, Somanta entered
      into a Note Purchase Agreement, a Security Agreement, a Patent Collateral
      Assignment and Security Agreement and a Trademark Collateral Security and Pledge
      Agreement (collectively, the &#8220;Loan Documents&#8221;) with Access. Under the terms of
      the Loan Documents, Access initially loaned Somanta $33,461.89. Access, in
      its
      sole discretion, may from time to time advance additional loan amounts to
      Somanta. All amounts loaned to Somanta by Access are secured by substantially
      all of the assets of Somanta pursuant to the terms of the Loan Documents. The
      Note bears interest at 10% and is repayable at the earlier of: (i) August 31,
      2007, or (ii) the date of the termination of the Agreement and Plan of Merger
      dated as of August 18, 2007 between Somanta and Access.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      Somanta Special Committee</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Due
      to
      various conflicts of interests brought to the attention of the board of
      directors at a meeting of the board of directors held on March 15, 2007, the
      board of directors established an independent special committee to evaluate
      and
      negotiate the terms of the merger agreement and related transactions. In
      determining which members of the board were sufficiently independent and
      disinterested with respect to the transaction, the Board noted that (i) each
      of
      Mr. Bruggeman and Dr. Epenetos were entitled to a significant amount of deferred
      salary that would likely be paid at the closing of the transaction as well
      as
      potential employment agreements with the surviving entity or severance payments,
      (ii) Jeffrey Davis is a member of the board of directors of each of Somanta
      and
      Access, (iii) Jeffrey Davis is also affiliated with both SCO Capital Partners
      LLC and Lake End Capital LLC, entities that beneficially own 49.62% of Somanta&#8217;s
      common stock and 55.6% of Somanta&#8217;s preferred stock and 74.1% of Access common
      stock and $6.0 million of Access&#8217; secured convertible debt, and (iv) each of Dr.
      Gibson and Ms. Van Sleen hold unexercised options to purchase Somanta common
      stock. After deliberating, it was determined that each of Dr. Gibson and Ms.
      Van
      Sleen were sufficiently independent and disinterested to function as Somanta&#8217;s
      special committee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      board
      then delegated to the special committee the power and authority to:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 9pt">
            </td>
            <td align="left" style="WIDTH: 27pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman;">&#183;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">examine
                and evaluate the merits of the transaction with
                Access;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 9pt">
            </td>
            <td align="left" style="WIDTH: 27pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman;">&#183;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">negotiate
                the terms of the proposed merger
                agreement;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 9pt">
            </td>
            <td align="left" style="WIDTH: 27pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman;">&#183;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">engage
                and consult with such advisors, including, without limitation, any
                financial or legal advisor as the special committee deemed necessary;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 27pt">
            </td>
            <td align="left" style="WIDTH: 27pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman;">&#183;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">recommend
                to the full board whether the proposed terms of any fully negotiated
                merger agreement and the transactions contemplated thereby, are fair,
                advisable and in the best interests of Somanta, its stockholders
                and each
                of the other relevant corporate constituencies and whether such merger
                agreement, and the transactions contemplated thereby, should be approved
                by the full board and submitted to the stockholders for
                approval.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">44</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_64"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Reasons
      for the Merger</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following discussion of the parties&#8217; reasons for the merger contains a number of
      forward-looking statements that reflect the current views of Access and/or
      Somanta with respect to future events that may have an effect on their future
      financial performance. Forward-looking statements are subject to risks and
      uncertainties. Actual results and outcomes may differ materially from the
      results and outcomes discussed in the forward-looking statements. Cautionary
      statements that identify important factors that could cause or contribute to
      differences in results and outcomes include those discussed in
&#8220;Summary-Forward-Looking Information&#8221; and &#8220;Risk Factors.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Mutual
      Reasons for the Merger </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      and Somanta believe that the combined company represents a biopharmaceutical
      company with the following potential advantages:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deeper
                Pipeline. The diverse product pipeline for the combined company is
                composed of one approved product, two drug candidates which are or
                shortly
                will be in Phase II development and five drug candidates in pre clinical
                development.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
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                Pipeline. Each of the product candidates is a different drug with
                its own
                mechanism of action. Consequently, the diversity of drugs in the
                pipeline
                of the combined company may provide investors with significant risk
                diversification.</font></div>
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            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
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            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
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            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Multiple
                Indications. Many of the products in the pipeline could be used for
                one or
                more types of cancer and these types differ from drug candidate to
                drug
                candidate proving additional opportunities for approval and not limiting
                the approvability of the drug candidates to any single clinical
                setting.</font></div>
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            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
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            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Retained
                Product Rights. All of the rights to each of the drug candidates,
                with the
                exception of Sodium Phenylbutyrate, in the portfolio of the combined
                company would be wholly-owned. These retained rights offer the flexibility
                to structure partnerships, when in the best interests of stockholders,
                to
                accelerate development or commercialization within the United States
                or
                abroad.</font></div>
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            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
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            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Financial
                Resources. The financial resources of the combined company would
                allow it
                to immediately focus on execution with respect to the product
                portfolio.</font></div>
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            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Experienced
                Management Team. It is expected that the combined company will be
                led by a
                combination of experienced senior management from both Access and
                Somanta,
                which will provide management continuity to support the integration
                of the
                two companies.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access&#8217;s
      Reasons for the Merger</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;s
      Reasons. The Access board of directors approved the merger based on a number
      of
      factors, including, among other factors, the following:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
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          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Broader
                Pipeline. Access currently has one approved product, one product
                candidate
                in clinical trials and two in pre-clinical studies. The addition
                of the
                one Somanta product currently in a clinical program and three additional
                drug candidates in pre-clinical development significantly broadens
                the
                product pipeline.</font></div>
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          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Risk
                Diversification. The addition of the Somanta product candidates to
                the
                portfolio for a total of seven of product candidates, each with a
                different mechanism of action, potentially affords significant risk
                diversification for Access stockholders.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
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            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Attractive
                Market. The Somanta product candidates are attractive because alone
                and/or
                in combination with existing cancer treatments which is a market
                that is
                attractive to Access.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">45</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition to considering the strategic factors outlined above, the Access board
      of directors considered the following factors in reaching its conclusion to
      approve the merger, all of which it viewed as generally supporting its decision
      to approve the business combination with Somanta:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" colspan="2" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                results of the due diligence review of Somanta&#8217;s businesses and operations
                by Access&#8217;s management, legal advisors and financial
                advisors;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
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            <td align="justify" colspan="2" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                terms and conditions of the merger agreement, including the following
                related factors:</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                determination that the relative percentage ownership of the Access
                stockholders and Somanta stockholders ratio that is fixed captures
                the
                respective ownership interests of the Access and Somanta stockholders
                in
                the combined company based on valuations of Access and Somanta at
                the time
                of the board&#8217;s approval of the merger agreement and avoids fluctuations
                caused by near-term market volatility;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="74%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                no-solicitation provisions governing Somanta&#8217;s ability to engage in
                negotiations with, provide any confidential information or data to,
                and
                otherwise have discussions with, any person relating to an alternative
                acquisition proposal;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="74%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                limited ability of the parties to terminate the merger agreement;
                and</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="74%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                possible effects of the provisions regarding termination
                fees;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                likelihood that the merger will be consummated on a timely basis;
                and</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
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            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                likelihood of retaining key Somanta employees to help manage the
                combined
                company.</font></div>
            </td>
          </tr>

      </table>
    </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      the
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      variety of risks and other countervailing factors related to entering into
      the
      merger agreement, including, among other risks and countervailing factors:
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            </td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                risks, challenges and costs inherent in combining the operations
                and the
                substantial expenses to be incurred in connection with the merger,
                including the possibility that delays or difficulties in completing
                the
                integration could adversely affect the combined company&#8217;s operating
                results and preclude the achievement of some benefits anticipated
                from the
                merger;</font></div>
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            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">&#160;</td>
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            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
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            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                possible volatility, at least in the short term, of the trading price
                of
                Access&#8217;s common stock resulting from the merger
                announcement;</font></div>
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          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                possible loss of key management, scientific or other personnel of
                either
                of the combining companies as a result of the management and other
                changes
                that will be implemented in integrating the businesses;</font></div>
            </td>
          </tr>
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            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                risk of diverting management&#8217;s attention from other strategic priorities
                to implement merger integration efforts;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                risk that the merger might not be consummated in a timely manner
                or at all
                and the potential adverse effect of the public announcement of the
                merger
                on Access&#8217;s reputation;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                risk to Access&#8217;s business, operations and financial results in the event
                that the merger is not consummated; </font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">various
                other applicable risks associated with the combined company and the
                merger, including those described in the section of this proxy
                statement/prospectus entitled &#8220;Risk Factors;&#8221; end</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                financial impact of funding a larger pipeline of drug candidates
                and the
                larger staff required to do so.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      foregoing information and factors considered by Access&#8217;s board of directors are
      not intended to be exhaustive but are believed to include all of the material
      factors considered by Access&#8217;s board of directors. In view of the wide variety
      of factors considered in connection with its evaluation of the merger and the
      complexity of these matters, the Access board of directors did not find it
      useful, and did not attempt, to quantify, rank or otherwise assign relative
      weights to these factors. In considering the factors described above, individual
      members of the Access board of directors may have given different weight to
      different factors. The Access board of directors conducted an overall analysis
      of the factors described above, including thorough discussions with, and
      questioning of, Access&#8217; management and Access&#8217; legal and financial advisors, and
      considered the factors overall to be favorable to, and to support, its
      determination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div id="GLFTR" style="WIDTH: 100%" align="left">
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      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">46</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta&#8217;s
      Reasons for the Merger </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Somanta board of directors approved the merger based on a number of factors,
      including, among other factors, the following: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lack
                of Alternative Strategic Relationships. Somanta&#8217;s board of directors&#8217; view
                as to the limited potential for other third parties to enter into
                strategic relationships with Somanta or to finance or acquire Somanta,
                particularly based on the thorough and formal process Somanta conducted
                with Merriman Curhan &amp; Ford as well as the business development effort
                by management with respect to identifying potential partner for huBrE-3
                mAb product candidate and the results of such process.</font></div>
            </td>
          </tr>
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            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Historical
                and Current Information. Historical and current information concerning
                Somanta&#8217;s business, including its financial performance and condition,
                operations, management and competitive position, current industry
                and
                economic conditions, and Somanta&#8217;s prospects if it was to remain an
                independent company, including its immediate need to obtain additional
                financing and the likely terms on which it would be able to obtain
                that
                financing, if at all.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Merger
                Conditions. The provisions of the merger agreement, including the
                fact
                that the value of the consideration to be paid to the common stockholders
                of Somanta and the preferred stockholders of Somanta exceeded the
                aggregate amounts each such class of stockholders had invested in
                Somanta
                as of the date the merger agreement was approved.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Management
                Team. The availability of an experienced management team that includes
                a
                team capable of developing a commercialization plan the Somanta product
                candidates.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                to Capital. Access&#8217; ability as a public company to raise additional
                capital.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Liquidity.
                Access&#8217; status as a public company, which would provide Somanta
                stockholders with the possibility of
                liquidity.</font></div>
            </td>
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      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition to considering the strategic factors outlined above, the Somanta&#8217;s
      board of directors considered the following factors in reaching its conclusion
      to approve the merger and to recommend that the Somanta stockholders adopt
      the
      merger agreement, all of which it viewed as generally supporting its decision
      to
      approve the business combination with Access: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" colspan="2" valign="top" width="76%">
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                attractiveness as a strategic partner, including
                Access&#8217;:</font></div>
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          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Potential
                ability to raise further capital, particularly in light of Somanta&#8217;s cash
                needs and limited cash resources;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">high
                quality and complementary management team; and</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">public
                company infrastructure and stock liquidity, particularly in light
                of
                Somanta&#8217;s relatively illiquid trading market in its common
                stock.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                opportunity for Somanta stockholders to participate in the long-term
                value
                of Somanta&#8217;s development programs through the ownership of Access common
                stock;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                terms and conditions of the merger agreement, including the following
                related factors:</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                expectation that the merger will be treated as a tax-free reorganization
                for U.S.&#160;federal income tax purposes, with the result that the
                Somanta stockholders will generally not recognize taxable gain or
                loss for
                U.S.&#160;federal income tax purposes;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                determination that the relative percentage ownership of Access
                stockholders and Somanta stockholders ratio that is fixed, and subject
                to
                adjustment is appropriate to reflect the strategic purpose of the
                merger
                and consistent with market practice for a merger of this type and
                captures
                the respective ownership interests of the Access and Somanta stockholders
                in the combined company based on Somanta&#8217;s perceived valuations of Access
                and Somanta at the time of the board&#8217;s approval of the merger
                agreement;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">47</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                fact that shares of Access common stock issued to Somanta stockholders
                will be registered on Form&#160;S-4 and will be freely tradable for
                Somanta stockholders who are not affiliates of Somanta;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                requirement that the merger agreement be submitted to a vote of the
                stockholders of Somanta;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
                rights under the merger agreement to consider certain unsolicited
                acquisition proposals and to change its recommendation to Somanta
                stockholders to adopt the merger agreement under certain circumstances
                should Somanta receive a superior proposal; and</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                likelihood that the merger will be consummated on a timely basis;
                and</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                major risks and uncertainties of alternatives to the merger, such
                as
                Somanta remaining an independent company.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      course of its deliberations, Somanta&#8217;s board of directors also considered a
      variety of risks and other countervailing factors related to entering into
      the
      merger agreement, including, among other risks and countervailing factors:
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Risks
                of Combination. The challenges and costs of combining the operations
                and
                the substantial expenses to be incurred in connection with the merger,
                including the risks that delays or difficulties in completing the
                integration and the inability to retain key employees could adversely
                affect the combined company&#8217;s operating results and preclude the
                achievement of some benefits anticipated from the
                merger.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                Price. The price volatility of Access&#8217; common stock, which may reduce the
                value of the Access common stock that the Somanta stockholders will
                receive upon the consummation of the merger.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Value.
                The inability of Somanta&#8217;s stockholders to realize the long-term value of
                the successful execution of Somanta&#8217;s current strategy as an independent
                company.</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Reputation.
                The possibility that the merger might not be completed and the potential
                adverse effect of the public announcement of the merger on Somanta&#8217;s
                reputation and ability to obtain financing in the
                future.</font></div>
            </td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition to the risks and countervailing factors outlined above, Somanta&#8217;s board
      of directors also considered other risks and countervailing factors, including
      the following: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                possible loss of key management, technical or other personnel of
                either of
                the combining companies as a result of the management and other changes
                that will be implemented in integrating the businesses;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                $750,000 termination fee payable to Access upon the occurrence of
                certain
                events, and the potential effect of such termination fee in deterring
                other potential acquirers from proposing an alternative transaction
                that
                may be more advantageous to Somanta stockholders;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                risk of diverting management&#8217;s attention from other strategic priorities
                to implement merger integration efforts;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                risk that the merger might not be consummated in a timely manner
                or at
                all;</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                risk that the anticipated benefits of integration and interoperability
                and
                cost savings will not be realized; and</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">various
                other applicable risks associated with the combined company and the
                merger, including those described in the section of this proxy
                statement/prospectus entitled &#8220;Risk
                Factors.&#8221;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">48</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      foregoing information and factors considered by Somanta&#8217;s board of directors are
      not intended to be exhaustive but are believed to include all of the material
      factors considered by Somanta&#8217;s board of directors. In view of the wide variety
      of factors considered in connection with its evaluation of the merger and the
      complexity of these matters, the Somanta board of directors did not find it
      useful, and did not attempt, to quantify, rank or otherwise assign relative
      weights to these factors. In considering the factors described above, individual
      members of the Somanta board of directors may have given different weight to
      different factors. The Somanta board of directors conducted an overall analysis
      of the factors described above, including thorough discussions with, and
      questioning of, Somanta&#8217;s management and Somanta&#8217;s legal advisors, and
      considered the factors overall to be favorable to, and to support, its
      determination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Recommendation
      of the Somanta Board of Directors </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      a
      special meeting of the Somanta board of directors held on April 13, 2007, the
      Somanta board of directors: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">After
                receipt of the recommendation of the Somanta special committee,
                </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">determined
                that the merger is advisable, and is fair to and in the best interests
                of
                Somanta and its stockholders</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
                and each of the other relevant corporate constituencies</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">approved
                the merger agreement; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">directed
                that approval and adoption of the merger agreement and approval of
                the
                merger be submitted for consideration by Somanta stockholders at
                a Somanta
                special meeting; and </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">resolved
                to recommend that the Somanta stockholders vote &#8220;FOR&#8221; the proposal to
                approve and adopt the merger agreement and the merger contemplated
                by the
                merger agreement. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      reaching its decision to approve the merger agreement, the Somanta board of
      directors </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(i)
      relied on the recommendation of the Somanta special committee, and (ii)
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">consulted
      with management, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
      Somanta&#8217;s</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      legal
      advisors in connection with the merger. Particularly persuasive among the
      factors considered by the Somanta board of directors in its deliberations were
      the reasons for the merger described in the section entitled &#8220;Reasons for the
      Merger&#8221; beginning on page 45 of this </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">proxy
      statement/prospectus. The Somanta board of directors also considered each of
      the
      following factors in its deliberations: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                the fixed exchange ratio for the stock portion of the merger consideration
                provides certainty as to the number of shares of Access common stock
                to be
                issued to Somanta stockholders and the percentage of shares of Access
                common stock that current Somanta stockholders will own as a group
                after
                the merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                Somanta stockholders will receive the merger consideration in stock,
                which
                provides them with an opportunity to participate in the potential
                growth
                of the combined company following the merger as stockholders of Access;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                the value of the consideration to be received by each stockholder
                of
                Somanta on the date the board approved the merger agreement exceeded
                the
                amount that each such stockholder had invested in
                Somanta;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">&#160;</td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">&#160;</td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                the liquidation value of Somanta was likely less than the value of
                the
                consideration to be paid to the stockholders of Somanta in the
                merger</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                the merger is structured such that Somanta stockholders will not
                be
                immediately taxed on the stock component of the merger
                consideration;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">conditions
                to consummation of the merger, in particular the likelihood of obtaining
                stockholder approvals, and the likelihood that the merger will be
                completed</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">current
                financial market conditions and historical market prices, volatility
                and
                trading information with respect to Somanta common stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">;
                </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">prospects
                for Somanta&#8217;s growth and profitability as a stand-alone
                company</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
                and the </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">risks
                of such growth and profitability.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">49</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, the Somanta board of directors also identified and considered a
      variety of potentially negative factors in its deliberations concerning the
      merger, including, but not limited to: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                effect of the public announcement of the merger, and the possibility
                that
                the merger might not be completed, Somanta&#8217;s stock price and Somanta&#8217;s
                ability to attract and retain key management and other personnel;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                risk that the potential benefits sought in the merger might not be
                fully
                realized; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                challenges of integrating the management teams, strategies, cultures
                and
                organizations of the companies; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                limitations on the right of Somanta to pursue alternative transactions
                that could conflict with the merger, including the possible effect
                of the
                expense and break-up fee provisions in the merger agreement;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                possibility that the value of the Access common stock to be issued
                in the
                merger could decline; and; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">other
                applicable risks described in the section entitled &#8220;Risk Factors&#8221;
                beginning on page&#160;18. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Somanta board of directors concluded, however, that these negative factors
      could
      be managed or mitigated by Somanta or by Access or were unlikely to have a
      material impact on the merger or Access after the merger, and that, overall,
      the
      potentially negative factors associated with the merger were far outweighed
      by
      the potential benefits of the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      above
      discussion of material factors considered by the Somanta board of directors
      is
      not intended to be exhaustive, but does set forth the principal factors
      considered by the Somanta board of directors. The Somanta board of directors
      collectively reached the conclusion to approve the merger agreement </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(with
      Mr.
      Davis recusing himself from such discussions and vote) </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
      the
      merger in light of the various factors described above and other factors that
      each board member felt were appropriate. In view of the wide variety of factors
      considered by the Somanta board of directors in connection with its evaluation
      of the merger and the complexity of these matters, the Somanta board did not
      consider it practical, and did not attempt, to quantify, rank or otherwise
      assign relative weights to the specific factors it considered in reaching its
      decision. Rather, the Somanta board of directors made its recommendations based
      on the totality of the information presented to and the investigation conducted
      by it, and the judgments of individual members of the board of directors may
      have been influenced to a greater or lesser degree by different factors.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      the
      basis of the foregoing, the Somanta board of directors (with Mr. Davis
      abstaining) recommends that Somanta stockholders vote &#8220;FOR&#8221; the approval and
      adoption of the merger agreement and the merger contemplated by the merger
      agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>No
      Opinion of Financial Advisor</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      special committee of</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      the
      Somanta board of directors </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">did
      not
      engage a financial advisor to assist in the sale of Somanta or to render a
      financial opinion as to the fairness, from a financial point of view,
      of</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      the
      consideration to be </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">paid
      to
      the Somanta stockholders in the merger. The special committee determined that
      the factors which weighed in favor of the merger, as discussed above, were
      substantial in relation to the factors which weighed against the merger. The
      special committee also considered the cost of obtaining a fairness opinion
      as
      prohibitively expensive in light of Somanta&#8217;s financial condition.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Treatment
      of Somanta Options and Warrants</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
      to the terms of the Merger Agreement, Somanta has warrants outstanding to
      purchase 5,936,304 shares of Somanta common stock that are not expected to
      be
      exercised prior to the closing of the merger and are expected to be converted
      into warrants to purchase approximately 192,000 shares of Access&#8217; common stock
      based on the ratio of common stock of Access to be issued in the merger in
      exchange for common stock of Somanta. Warrants to purchase 1,166,534 shares
      of
      Somanta common stock which are held by SCO Capital Partners LLC and SCO
      Financial Group LLC are expected to be exercised prior to the closing of the
      merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
      to the terms of the Merger Agreement, Access will not assume, or provide a
      substitute option, for any of Somanta&#8217;s outstanding stock options. As a result,
      pursuant to the terms of Section 11.3(d) of the Equity Incentive Plan, the
      Somanta&#8217;s Board of Directors has resolved to: (i) allow the immediate and
      accelerated vesting of all of the options granted, and (ii) allowed for the
      exercise of the outstanding options, in whole or in part, until the close of
      business on Thursday, May 31, 2007. A failure to validly exercise the options
      in
      accordance prior to the close of business on May 31, 2007 will mean that after
      such time, the unexercised option will have expired and will no longer be
      exercisable in whole or in part. Somanta does not expect any of the options
      to
      be exercised since the options are substantially out of the money.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">50</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Material
      Closing Conditions to Merger</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      number
      of conditions must be satisfied before the merger will be completed. These
      include among others: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                approval and adoption of the merger agreement and the merger contemplated
                by the merger agreement by Somanta stockholders;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                absence of any legal restraints or prohibitions preventing the completion
                of the merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                Access will have received a favorable fairness opinion of TSG Partners
                to
                the effect that the payment by it of the merger consideration is
                fair to
                Access&#8217; stockholders from a financial point of
                view;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                representations and warranties of each party contained in the merger
                agreement being true and correct, except to the extent that breaches
                of
                these representations and warranties would not result in a material
                adverse effect on the representing party;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                performance or compliance in all material respects of each party
                with all
                agreements and covenants contained in the merger agreement at the
                completion of the merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                absence of events or developments since the date of the merger agreement
                that would reasonably be expected to have a material adverse effect
                with
                respect to either party; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
                as of the completion of the merger all of Somanta&#8217;s liabilities, including
                accounts payables and amounts owed to officers and employees, shall
                not
                exceed $1,000,000 in the aggregate.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      of
      Access, Somanta Acquisition Corporation and Somanta may waive the conditions
      to
      the performance of its respective obligations under the merger agreement and
      complete the merger even though one or more of these conditions has not been
      met. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Material
      United States Federal Income Tax Consequences of the Merger
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following discussion summarizes the material U.S. federal income tax
      considerations of the merger that are expected to apply generally to Somanta
      stockholders upon an exchange of their Somanta common stock or preferred stock
      for Access common stock in the merger. This summary is based upon current
      provisions of the Internal Revenue Code of 1986, as amended, or the Code,
      existing Treasury Regulations under the Code and current administrative rulings
      and court decisions, all of which are subject to change and to differing
      interpretations, possibly with retroactive effect. Any change or different
      interpretation could alter the tax consequences to Access, Somanta or the
      stockholders of Somanta as described in this summary. This summary is not
      binding on the Internal Revenue Service, or the IRS, and there can be no
      assurance that the IRS (or a court, in the event of an IRS challenge) will
      agree
      with the conclusions stated herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
      summary applies only to a Somanta stockholder that is a &#8220;U.S. person,&#8221; defined
      to include:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                citizen or resident of the United
                States;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                corporation created or organized in or under the laws of the United
                States
                or any political subdivision thereof (including the District of
                Columbia);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="left" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                estate the income of which is subject to U.S. federal income taxation
                regardless of its source;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                trust if either a court within the United States is able to exercise
                primary supervision over the administration of such trust and one
                or more
                U.S. persons have the authority to control all substantial decisions
                of
                such trust, or the trust has a valid election in effect to be treated
                as a
                U.S. person for U.S. federal income tax purposes;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                other person or entity that is treated for U.S. federal income tax
                purposes as if it were one of the
                foregoing.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">51</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Any
      Somanta stockholder that is neither a &#8220;U.S. person&#8221; as defined above nor an
      entity that is treated as a partnership or disregarded entity for U.S. federal
      income tax purposes is, for purposes of this discussion, a &#8220;non-U.S.
      person.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">No
      attempt has been made to comment on all U.S. federal income tax consequences
      of
      the merger that may be relevant to particular holders of Somanta common stock
      or
      preferred stock that are subject to special treatment under U.S. federal income
      tax laws, including, without limitation: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">dealers,
                brokers, and traders in securities;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">non-U.S.
                persons;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="left" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">tax-exempt
                entities;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">financial
                institutions, regulated investment companies, real estate investment
                trusts, or insurance companies;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">entities
                that are treated as partnerships for federal income tax purposes,
                S
                corporations, and other pass-through
                entities;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">holders
                who are subject to the alternative minimum tax provisions of the
                Code;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="left" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">holders
                who acquired their shares in connection with stock option or stock
                purchase plans or in other compensatory
                transactions;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">holders
                who hold shares that constitute qualified small business stock within
                the
                meaning of Section 1202 of the
                Code;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">holders
                with a functional currency other than the U.S.
                dollar;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">holders
                who hold their shares as part of an integrated investment such as
                a hedge
                or as part of a hedging, straddle or other risk reduction strategy;
                or</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">holders
                who do not hold their shares as capital assets within the meaning
                of
                Section 1221 of the Code (generally, property held for investment
                will be
                a capital asset).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      an
      entity treated as a partnership for U.S. federal income tax purposes holds
      Somanta common stock or preferred stock, the tax treatment of a person holding
      interests in that entity generally will depend upon the status of that person
      and the activities of that entity. Such entities and persons holding interests
      in such entities should consult a tax advisor regarding the tax consequences
      of
      the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following discussion does not address: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                tax consequences of the merger under U.S. federal non-income tax
                laws or
                under state, local, or foreign tax
                laws;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                tax consequences of transactions effectuated before, after or at
                the same
                time as the merger, whether or not they are in connection with the
                merger,
                including, without limitation, transactions in which Somanta shares
                are
                acquired or Access shares are disposed
                of;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                tax consequences to holders of options issued by Somanta that are
                exercised or terminated prior to the
                merger;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                tax consequences to holders of warrants issued by Somanta that are
                exercised or assumed in connection with the
                merger;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                tax consequences of the receipt of Access shares other than in exchange
                for Somanta shares; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                tax consequences of the ownership or disposition of Access shares
                acquired
                in the merger; or</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                tax implications of a failure of the merger to qualify as a reorganization
                within the meaning of Section 368 of the
                Code.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">52</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>No
      tax opinion will be sought or obtained in connection with the merger. In
      addition, no ruling from the IRS has been or will be requested in connection
      with the merger. Accordingly, holders of Somanta common stock and holders of
      Somanta preferred stock are advised and expected to consult their own tax
      advisers regarding the federal income tax consequences of the merger in light
      of
      their personal circumstances and the consequences of the merger under federal
      non-income tax laws and state, local and foreign tax laws.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Subject
      to the foregoing, Access and Somanta expect that the merger will be treated
      for
      U.S. federal income tax purposes as a reorganization within the meaning of
      Section 368 of the Code. Accordingly, Access and Somanta expect that the
      following material U.S. federal income tax consequences will result:
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access,
                Somanta Acquisition Corporation and Somanta will each be a party
                to the
                reorganization;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access,
                Somanta Acquisition Corporation, Somanta and the Access stockholders
                will
                not recognize any gain or loss solely as a result of the
                merger;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">stockholders
                of Somanta will not recognize any gain or loss upon the receipt of
                solely
                Access common stock for their Somanta common stock or preferred stock,
                other than with respect to cash received in lieu of fractional shares
                of
                Access common stock;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                aggregate tax basis of the shares of Access common stock received
                by a
                Somanta stockholder in the merger (including any fractional share
                deemed
                received, as described below) will be equal to the aggregate tax
                basis of
                the shares of Somanta common stock or preferred stock surrendered
                in
                exchange therefor;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                holding period of the shares of Access common stock received by a
                Somanta
                stockholder in the merger will include the holding period of the
                shares of
                Somanta common stock or preferred stock surrendered in exchange therefor;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">cash
                payments received by Somanta stockholders in lieu of fractional shares
                of
                Access common stock will be treated as if such fractional shares
                of Access
                common stock were issued in the merger and then sold. A stockholder
                of
                Somanta who receives a cash payment in lieu of a fractional share
                will
                recognize gain or loss equal to the difference, if any, between such
                stockholder&#8217;s basis in the fractional share and the amount of cash
                received. Such gain or loss will be a capital gain or loss and any
                such
                capital gain or loss will be long-term capital gain or loss if the
                Somanta
                common stock or preferred stock is held by such stockholder as a
                capital
                asset at the effective time of the merger and such stockholder&#8217;s holding
                period for his, her or its Somanta common stock or preferred stock
                is more
                than one year.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      stockholders that owned at least five percent (by vote of value) of the total
      outstanding stock of Somanta are required to attach a statement to their tax
      returns for the year in which the merger is consummated that contains the
      information listed in Treasury Regulations Section 1.368-3T(b). Such statement
      must include the stockholder&#8217;s tax basis in the stockholder&#8217;s Somanta common
      stock and preferred stock and the fair market value of such stock. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      purposes of the foregoing discussion, stockholders who acquired different blocks
      of Somanta common stock or preferred stock at different times for different
      prices must calculate their gains and losses and holding periods separately
      for
      each identifiable block of such stock exchanged, converted, cancelled, or
      received in the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      foregoing discussion does not apply to Somanta stockholders who properly perfect
      appraisal rights. Generally, a Somanta stockholder who perfects appraisal rights
      with respect to such stockholder&#8217;s shares of Somanta common stock or preferred
      stock will recognize capital gain or loss equal to the difference between such
      stockholder&#8217;s tax basis in those shares and the amount of cash received in
      exchange for those shares. In addition, a portion of any proceeds received
      following the effective time of the merger may be characterized as interest,
      taxable as ordinary income, thus reducing the amount of such capital gain or
      increasing the amount of such capital loss (as the case may be). Given the
      uncertain treatment under federal income tax law, a Somanta stockholder who
      intends to perfect appraisal rights should consult his, her or its tax
      advisor.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">53</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certain
      noncorporate Somanta stockholders may be subject to backup withholding, at
      a
      rate of 28% for 2007, on cash received pursuant to the merger. Backup
      withholding will not apply, however, to a Somanta stockholder who (1) furnishes
      a correct taxpayer identification number and certifies that the Somanta
      stockholder is not subject to backup withholding on IRS Form W-9 or a
      substantially similar form, (2) provides a certification of foreign status
      on an
      appropriate IRS Form W-8 or successor form, or (3) is otherwise exempt from
      backup withholding. If a Somanta stockholder does not provide a correct taxpayer
      identification number on IRS Form W-9 or a substantially similar form, the
      Somanta stockholder may be subject to penalties imposed by the IRS. Amounts
      withheld, if any, are generally not an additional tax and may be refunded or
      credited against the Somanta stockholder&#8217;s U.S. federal income tax liability,
      provided that the Somanta stockholder timely furnishes the required information
      to the IRS.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      preceding discussion is intended only as a summary of certain U.S. federal
      income tax consequences of the merger and does not purport to be a complete
      analysis or discussion of all of the merger&#8217;s potential tax effects. Somanta
      stockholders are urged to consult their own tax advisors as to the specific
      tax
      consequences to them of the merger, including tax return reporting requirements,
      and the applicability and effect of federal, state, local and other applicable
      tax laws. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_68"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Accounting
      Treatment </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with accounting principles generally accepted in the United States,
      Access will account for the merger as a business combination. Upon the
      completion of the merger, Access will record the market value of its common
      stock issued (based on an average of the closing prices of Access common stock
      for a range of trading days from two days before and after February 21, 2007,
      the announcement date) in the merger, the fair value of Somanta&#8217;s debt at the
      time of the merger, the fair value of Access warrants issued in exchange for
      warrants to purchase shares of Somanta common stock outstanding at the effective
      time of the merger and the amount of direct transaction costs associated with
      the merger, as the purchase price of acquiring Somanta. Access will allocate
      the
      purchase price to the tangible and identifiable intangible assets acquired
      and
      liabilities assumed based on their respective fair values at the effective
      time
      of the merger. Any excess of the purchase price over the fair value of net
      assets acquired will be accounted for as goodwill. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with the Statement of Financial Accounting Standards No. 142,
&#8220;Goodwill and Other Intangible Assets,&#8221; goodwill resulting from the business
      combination will not be amortized but instead will be tested for impairment
      at
      least annually (more frequently if certain indicators are present). In the
      event
      that Access management determines that the value of goodwill has become
      impaired, the combined company will incur an accounting charge for the amount
      of
      impairment during the fiscal quarter in which the determination is made.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_69"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Regulatory
      Matters </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">There
      are
      no antitrust laws that would apply to the proposed transaction. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_70"/>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Dissenters&#8217;
      or Appraisal Rights </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Holders
      of shares of Somanta common and preferred stock who do not vote in favor of
      approval and adoption of the merger agreement and approval of the merger and
      who
      properly demand appraisal of their shares will be entitled to appraisal rights
      in connection with the merger under Section 262 of the DGCL. Under the DGCL,
      holders of shares of Access common stock are not entitled to appraisal rights
      in
      connection with the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      following discussion is not a complete statement of the law pertaining to
      appraisal rights under the DGCL and is qualified in its entirety by the full
      text of Section 262 which is attached to this proxy statement/prospectus as
      Annex C. The following summary does not constitute any legal or other advice
      nor
      does it constitute a recommendation that stockholders exercise their appraisal
      rights under Section 262. All references in Section 262 and in this summary
      to a
&#8220;stockholder&#8221; are to the record holder of the shares of Somanta common and
      preferred stock as to which appraisal rights are asserted. A person having
      a
      beneficial interest in shares of Somanta common and preferred stock held of
      record in the name of another person, such as a broker, fiduciary, depositary
      or
      other nominee, must act promptly to cause the record holder to follow the steps
      summarized below properly and in a timely manner to perfect appraisal rights.
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      Section 262, persons who hold shares of Somanta common and preferred stock
      who
      do not vote in favor of approval and adoption of the merger agreement and
      approval of the merger and who otherwise follow the procedures set forth in
      Section 262 will be entitled to have their shares appraised by the Delaware
      Court of Chancery and to receive payment in cash of the &#8220;fair value&#8221; of the
      shares, exclusive of any element of value arising from the accomplishment or
      expectation of the merger, together with a fair rate of interest, if any, as
      determined by the court. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">54</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Notice
      of Appraisal Rights</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Under
      Section 262, where a merger is to be submitted for approval at a meeting of
      a
      corporation&#8217;s stockholders, as in the case of approval and adoption of the
      merger agreement and approval of the merger by Somanta&#8217;s stockholders, the
      corporation, not less than 20 days prior to the meeting, must notify each of
      its
      stockholders entitled to appraisal rights that appraisal rights are available
      and include in the notice a copy of Section 262. This proxy statement/prospectus
      shall constitute the notice, and the full text of Section 262 is attached to
      this proxy statement/prospectus as Annex B. Any holder of Somanta common and
      preferred stock who wishes to exercise appraisal rights, or who wishes to
      preserve such holder&#8217;s right to do so, should review the following discussion
      and Annex B carefully because failure to timely and properly comply with the
      procedures specified will result in the loss of appraisal rights. Moreover,
      because of the complexity of the procedures for exercising the right to seek
      appraisal of shares of common stock, Somanta believes that if a Somanta
      stockholder considers exercising such rights, such stockholder should seek
      the
      advice of legal counsel. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Filing
      Written Demand</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Any
      Somanta stockholder wishing to exercise appraisal rights must deliver to
      Somanta, before the vote on approval and adoption of the merger agreement and
      approval of the merger at the Somanta special meeting, a written demand for
      the
      appraisal of the stockholder&#8217;s shares, and that stockholder must not vote in
      favor of approval and adoption of the merger agreement and approval of the
      merger. A holder of shares of Somanta common stock wishing to exercise appraisal
      rights must hold of record the shares on the date the written demand for
      appraisal is made and must continue to hold the shares of record through
      completion of the merger, since appraisal rights will be lost if the shares
      are
      transferred prior to completion of the merger. The holder must not vote in
      favor
      of approval and adoption of the merger agreement and approval of the merger. A
      proxy which is signed and submitted but does not contain voting instructions
      will, unless revoked, be voted in favor of approval and adoption of the merger
      agreement and approval of the merger, and it will constitute a waiver of the
      stockholder&#8217;s right of appraisal and will nullify any previously delivered
      written demand for appraisal. Therefore, a stockholder who votes by proxy and
      who wishes to exercise appraisal rights must vote against approval and adoption
      of the merger agreement and approval of the merger or abstain from voting on
      the
      merger agreement and the merger. Neither voting against approval and adoption
      of
      the merger agreement and approval of the merger (in person or by proxy), nor
      abstaining from voting or failing to vote on the proposal to approve and adopt
      the merger agreement and approval of the merger will in and of itself constitute
      a written demand for appraisal satisfying the requirements of Section 262.
      The
      written demand for appraisal must be in addition to and separate from any proxy
      or vote. The demand must reasonably inform Somanta of the identity of the holder
      as well as the intention of the holder to demand an appraisal of the &#8220;fair
      value&#8221; of the shares held by the holder. A stockholder&#8217;s failure to make the
      written demand prior to the taking of the vote on approval and adoption of
      the
      merger agreement and approval of the merger at the Somanta special meeting
      will
      constitute a waiver of appraisal rights. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Only
      a
      holder of record of shares of Somanta common stock is entitled to assert
      appraisal rights for the shares registered in that holder&#8217;s name. A demand for
      appraisal in respect of shares of Somanta common stock should be executed by
      or
      on behalf of the holder of record, fully and correctly, as the holder&#8217;s name
      appears on the holder&#8217;s stock certificates, should specify the holder&#8217;s name and
      mailing address and the number of shares registered in the holder&#8217;s name and
      must state that the person intends thereby to demand appraisal of the holder&#8217;s
      shares in connection with the merger. If the shares are owned of record in
      a
      fiduciary capacity, such as by a trustee, guardian or custodian, execution
      of
      the demand should be made in that capacity, and if the shares are owned of
      record by more than one person, as in a joint tenancy and tenancy in common,
      the
      demand should be executed by or on behalf of all joint owners. An authorized
      agent, including an agent for two or more joint owners, may execute a single
      demand for appraisal on behalf of a holder of record; however, the agent must
      identify the record owner or owners and expressly disclose that, in executing
      the demand, the agent is acting as agent for the record owner or owners. If
      the
      shares are held in &#8220;street name&#8221; by a broker, bank or nominee, the broker, bank
      or nominee may exercise appraisal rights with respect to the shares held for
      one
      or more beneficial owners while not exercising the rights with respect to the
      shares held for other beneficial owners; in such case, however, the written
      demand should set forth the number of shares as to which appraisal is sought,
      and where no number of shares is expressly mentioned, the demand will be
      presumed to cover all shares of Somanta common stock held in the name of the
      record owner. Stockholders who hold their shares in brokerage accounts or other
      nominee forms and who wish to exercise appraisal rights are urged to consult
      with their brokers to determine the appropriate procedures for the making of
      a
      demand for appraisal by such a nominee. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      written demands for appraisal pursuant to Section 262 should be sent or
      delivered to Somanta Pharmaceuticals, Inc., 19200 Von Karman Avenue, Suite
      400,
      Irvine, California 92612 Attention: Secretary. The method of delivery of the
      written demand for appraisal to the address above is the option and risk of
      the
      stockholder. </font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">55</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Withdrawal
      of Demand. </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Any
      holder of Somanta common and preferred stock may withdraw his, her or its demand
      for appraisal and accept the consideration offered pursuant to the merger
      agreement by delivering to the surviving corporation a written withdrawal of
      the
      demand for appraisal. However, any such attempt to withdraw the demand made
      more
      than 60 days after the effective date of the merger will require written
      approval of the surviving corporation. No appraisal proceeding in the Delaware
      Court of Chancery will be dismissed without the approval of the Delaware Court
      of Chancery, and such approval may be conditioned upon such terms as the Court
      deems just. If the surviving corporation does not approve a request to withdraw
      a demand for appraisal when that approval is required, or if the Delaware Court
      of Chancery does not approve the dismissal of an appraisal proceeding, the
      Somanta stockholder will be entitled to receive only the appraised value
      determined in any such appraisal proceeding, which value could be less than,
      equal to or more than the consideration being offered pursuant to the merger
      agreement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Notice
      by the Surviving Corporation.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      Within
      ten days after completion of the merger, the surviving corporation must notify
      each holder of Somanta common and preferred stock who has made a written demand
      for appraisal pursuant to Section 262, and who has not voted in favor of
      approval and adoption of the merger agreement and approval of the merger, that
      the merger has become effective. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Filing
      a Petition for Appraisal</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Within
      120 days after completion of the merger, but not thereafter, the surviving
      corporation or any holder of Somanta common stock who has complied with Section
      262 and is entitled to appraisal rights may file a petition in the Delaware
      Court of Chancery demanding a determination of the fair value of the shares
      held
      by all dissenting holders. The surviving corporation is under no obligation
      to
      and has no present intention to file such a petition and holders should not
      assume that the surviving corporation will file a petition. Accordingly, it
      is
      the obligation of the holders of Somanta common stock to initiate all necessary
      action to perfect their appraisal rights in respect of shares of Somanta common
      stock within the time prescribed in Section 262. Within 120 days after
      completion of the merger, any holder of Somanta common stock who has complied
      with the requirements for exercise of appraisal rights will be entitled, upon
      written request, to receive from the surviving corporation a statement setting
      forth the aggregate number of shares not voted in favor of approval and adoption
      of the merger agreement and approval of the merger and with respect to which
      demands for appraisal have been received and the aggregate number of holders
      of
      such shares. The statement must be mailed within ten days after a written
      request therefore has been received by the surviving corporation or within
      ten
      days after the expiration of the period for delivery of demands for appraisal,
      whichever is later. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      merger agreement, Somanta has agreed to provide Access notice of any demands
      for
      appraisal received by it. Access will have the right to participate in and
      direct all negotiations and proceedings with respect to demands for appraisal
      under Section 262 of the DGCL. Somanta will not voluntarily make any payments
      with respect to, or settle or offer to settle, any demand for appraisal without
      the prior written consent of Access. If a petition for an appraisal is timely
      filed by a holder of shares of Somanta common stock and a copy thereof is served
      upon the surviving corporation, the surviving corporation will then be obligated
      within 20 days to file with the Delaware Register in Chancery a duly verified
      list containing the names and addresses of all stockholders who have demanded
      an
      appraisal of their shares and with whom agreements as to the value of their
      shares have not been reached. After notice to the stockholders as required
      by
      the court, the Delaware Court of Chancery is empowered to conduct a hearing
      on
      the petition to determine those stockholders who have complied with
      Section&#160;262 and who have become entitled to appraisal rights thereunder.
      The Delaware Court of Chancery may require the stockholders who demanded payment
      for their shares to submit their stock certificates to the Register in Chancery
      for notation thereon of the pendency of the appraisal proceeding; and if any
      stockholder fails to comply with the direction, the Court of Chancery may
      dismiss the proceedings as to the stockholder. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Determination
      of Fair Value</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      After
      determining the holders of Somanta common and preferred stock entitled to
      appraisal, the Delaware Court of Chancery will appraise the &#8220;fair value&#8221; of
      their shares, exclusive of any element of value arising from the accomplishment
      or expectation of the merger, together with a fair rate of interest, if any,
      to
      be paid upon the amount determined to be the fair value. In determining fair
      value and, if applicable, a fair rate of interest, the Court of Chancery of
      Delaware will take into account all relevant factors. In </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Weinberger
      v. UOP</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Inc.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      the
      Supreme Court of Delaware discussed the factors that could be considered in
      determining fair value in an appraisal proceeding, stating that &#8220;proof of value
      by any techniques or methods that are generally considered acceptable in the
      financial community and otherwise admissible in court&#8221; should be considered, and
      that &#8220;fair price obviously requires consideration of all relevant factors
      involving the value of a company.&#8221; The Delaware Supreme Court stated that, in
      making this determination of fair value, the court must consider market value,
      asset value, dividends, earnings prospects, the nature of the enterprise and
      any
      other facts that could be ascertained as of the date of the merger that throw
      any light on future prospects of the merged corporation. Section 262 provides
      that fair value is to be &#8220;exclusive of any element of value arising from the
      accomplishment or expectation of the merger.&#8221; In </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Cede
      &amp; Co. v. Technicolor, Inc.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      the
      Delaware Supreme Court stated that this exclusion is a &#8220;narrow exclusion [that]
      does not encompass known elements of value,&#8221; but which rather applies only to
      the speculative elements of value arising from such accomplishment or
      expectation. In </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Weinberger</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      the
      Supreme Court of Delaware also stated that &#8220;elements of future value, including
      the nature of the enterprise, which are known or susceptible of proof as of
      the
      date of the merger and not the product of speculation, may be considered.&#8221;
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">56</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stockholders
      considering seeking appraisal should be aware that the fair value of their
      shares as so determined could be more than, the same as or less than the merger
      consideration they would receive pursuant to the merger if they did not seek
      appraisal of their shares. Although Somanta believes that the merger
      consideration is fair, no representation is made as to the outcome of the
      appraisal of fair value as determined by the Delaware Court of Chancery, and
      stockholders should recognize that such an appraisal could result in a
      determination of a value higher or lower than, or the same as, the merger
      consideration. Neither Somanta nor Access anticipate offering more than the
      applicable merger consideration to any Somanta stockholder exercising appraisal
      rights, and reserve the right to assert, in any appraisal proceeding, that
      for
      purposes of Section 262, the &#8220;fair value&#8221; of a share of Somanta common stock is
      less than the applicable merger consideration, and that the methods which are
      generally considered acceptable in the financial community and otherwise
      admissible in court should be considered in the appraisal proceedings. In
      addition, Delaware courts have decided that the statutory appraisal remedy,
      depending on factual circumstances, may or may not be a dissenter&#8217;s exclusive
      remedy. The Delaware Court of Chancery will also determine the amount of
      interest, if any, to be paid upon the amounts to be received by persons whose
      shares of Somanta common stock have been appraised. If a petition for appraisal
      is not timely filed, then the right to an appraisal will cease. The costs of
      the
      action may be determined by the Court and taxed upon the parties as the Court
      deems equitable under the circumstances. The Court may also order that all
      or a
      portion of the expenses incurred by a stockholder in connection with an
      appraisal, including, without limitation, reasonable attorneys&#8217; fees and the
      fees and expenses of experts utilized in the appraisal proceeding, be charged
      pro rata against the value of all the shares entitled to be appraised.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      any
      stockholder who demands appraisal of shares of Somanta common stock under
      Section 262 fails to perfect, or successfully withdraws or loses, his or her
      right to appraisal, the stockholder&#8217;s shares of Somanta common stock will be
      deemed to have been converted upon completion of the merger into the right
      to
      receive the merger consideration under the merger agreement. A stockholder
      will
      fail to perfect, or effectively lose or withdraw, the holder&#8217;s right to
      appraisal if no petition for appraisal is filed within 120 days after completion
      of the merger or if the stockholder delivers to the surviving corporation a
      written withdrawal of the holder&#8217;s demand for appraisal and an acceptance of the
      merger, in accordance with Section 262. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">From
      and
      after completion of the merger, no dissenting stockholder shall have any rights
      of a Somanta stockholder with respect to that holder&#8217;s shares for any purpose,
      except to receive payment of fair value and to receive payment of dividends
      or
      other distributions on the holder&#8217;s shares of Somanta common stock, if any,
      payable to Somanta stockholders of record as of a time prior to completion
      of
      the merger; provided, however, that if a dissenting stockholder delivers to
      the
      surviving company a written withdrawal of the demand for an appraisal within
      60
      days after completion of the merger or subsequently with the written approval
      of
      the surviving company, or, if no petition for appraisal is filed within 120
      days
      after completion of the merger, then the right of that dissenting stockholder
      to
      an appraisal will cease and the dissenting stockholder will be entitled to
      receive only the merger consideration. Once a petition for appraisal is filed
      with the Delaware court, the appraisal proceeding may not be dismissed as to
      any
      Somanta stockholder without the approval of the court. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Failure
      to comply strictly with all of the procedures set forth in Section 262 of the
      DGCL will result in the loss of a stockholder&#8217;s statutory appraisal rights.
      Consequently, any stockholder wishing to exercise appraisal rights is urged
      to
      consult legal counsel before attempting to exercise those rights.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Closing
      Condition. </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, Access and Somanta Acquisition Corp. shall not
      be
      obligated to complete the merger if, during any applicable period during which
      stockholders of Somanta have the right to exercise appraisal, dissenters&#8217; or
      other similar rights under Section 262 of Delaware General Corporate Law or
      other applicable law, stockholders of Somanta holding in aggregate more than
      five percent (5%) of the outstanding shares of&#160;Somanta Common Stock or
      Somanta Preferred Stock shall not have exercised appraisal, dissenters&#8217; or
      similar rights under Section 262 of Delaware General Corporate Law or other
      applicable law with respect to such shares by virtue of the Merger.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_71"/><a name="toc46264_72"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Restrictions
      on Sales of Shares of Access Common Stock Received in the Merger
</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      shares of Access common stock to be issued in connection with the merger will
      be
      registered under the Securities Act of 1933, as amended, which is referred
      to as
      the Securities Act of 1933, and will be freely transferable, except for shares
      of Access common stock issued to any person who is deemed to be an &#8220;affiliate&#8221;
of Somanta prior to the merger. Persons who may be deemed to be &#8220;affiliates&#8221; of
      Somanta prior to the merger include individuals or entities that control, are
      controlled by, or are under common control of Somanta prior to the merger,
      and
      may include officers and directors, as well as principal stockholders of Somanta
      prior to the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">57</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Persons
      who may be deemed to be affiliates of Somanta prior to the merger may not sell
      any of the shares of Access common stock received by them in connection with
      the
      merger except pursuant to: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                effective registration statement under the Securities Act of 1933
                covering
                the resale of those shares; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                exemption under paragraph (d) of Rule 145 under the Securities Act
                of
                1933; or </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                other applicable exemption under the Securities Act of 1933.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_73"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Interests
      of Executive Officers and Directors of Somanta in the Merger
</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      considering the recommendation of the Somanta board of directors that Somanta
      stockholders vote in favor of approval and adoption of the merger agreement
      and
      the merger contemplated by the merger agreement, Somanta stockholders should
      be
      aware that some Somanta executive officers, directors and affiliates may have
      interests in the merger that may be different from, or in addition to, their
      interests as stockholders of Somanta. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">These
      interests relate to or arise from, among other things: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                continued indemnification of, and provision of directors&#8217; and officers&#8217;
                insurance coverage to, current directors and officers of Somanta
                following
                the merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                employment of certain executive officers of Somanta by Access upon
                completion of the merger;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                potential receipt of severance payments by executive officers; and
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ownership of substantial equity interests in both Somanta and
                Access:</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline;" face="Wingdings"><font style="FONT-FAMILY: Times New Roman;">&#8226;
</font></font>SCO
                Capital Partners
                LLC, and its affiliates, are represented on the Somanta Board of
                Directors
                and collectively control 44.52% of Somanta&#8217;s common stock and 55.6% of the
                Somanta&#8217;s outstanding preferred stock or 48.82% of Somanta&#8217;s outstanding
                voting securities on an as-converted basis. SCO Capital Partners
                is
                represented on the Access&#8217; Board of Directors and collectively controls
                convertible notes and warrants which if converted and exercised would
                represent 74.1% of Access&#8217;s common stock.; </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline;" face="Wingdings"><font style="FONT-FAMILY: Times New Roman;">&#8226;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;</font></font></font>Lake
                End Capital
                LLC, and its affiliates, are represented on the Somanta board of
                directors
                and collectively control 5.09% of Somanta&#8217;s common stock and 4.23% of
                Somanta&#8217;s outstanding preferred stock, or 4.76% of Somanta&#8217;s outstanding
                voting securities on an as-converted basis; and </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline;" face="Wingdings"><font style="FONT-FAMILY: Times New Roman;">&#8226;
</font></font>Walbrook
                Trustees
                (Jersey Ltd REK33), of which Agamemnon A Epenetos, Somanta&#8217;s President and
                Chief Executive Officer, is a beneficiary, is the beneficial owner
                of
                25.03% of Somanta&#8217;s common stock.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Indemnification;
      Directors&#8217; and Officers&#8217; Insurance </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      agreed that, for a period of six years following completion of the merger,
      the
      indemnification obligations set forth in Somanta&#8217;s certificate of incorporation
      and bylaws and any Somanta indemnification agreements will survive.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, for a period of six years from the completion of the merger, Access
      will cause Somanta&#8217;s existing policy of directors&#8217; and officers&#8217; liability
      insurance to be maintained, subject to certain limitations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Employment
      of Somanta Executive Officers by Access after the Merger
</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prior
      to
      executing the merger agreement, Access and Somanta reached an informal
      understanding that Agamemnon Epenetos would continue as an executive officer
      of
      the combined company following the merger, although no discussions occurred
      at
      that time regarding the terms and conditions of Dr. Epenetos&#8217; employment.
      Currently, however, Access anticipates that Dr. Epenetos will serve as an
      executive officer of the combined company, and that Dr. Epenetos will execute
      an
      Access standard form employment agreement and at his current annual salary
      of
      $275,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_73c"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Executive
      Officer Severance Payments </em></strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      has from time to time entered into change of control severance agreements with
      each of its executive officers, Agamemnon A. Epenetos and Terrance J. Bruggeman.
      Each of the executive officers is subject to an agreement with substantially
      similar terms and conditions that provide each executive officer with certain
      severance payments if he is terminated without &#8220;cause,&#8221; as defined in the
      applicable agreement, or terminates due to an &#8220;involuntary termination,&#8221; as
      defined in the applicable agreement, at any time following a change of control,
      which includes the completion of the merger. These benefits include payment
      of a
      lump sum amount equal to: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <table bgcolor="white" cellpadding="0" cellspacing="0" id="ftable" width="54%">

          <tr bgcolor="white">
            <td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: 4px">&#160;<u>Name</u></td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td colspan="2" valign="bottom" width="21%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;Total</div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><u>Severance
                Payments</u></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: 4px">&#160;Agamemnon
              A. Epenetos, MD, PhD</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">$</td>
            <td align="right" valign="bottom" width="20%" style="BORDER-BOTTOM: 4px">
              <div>275,000</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr bgcolor="white">
            <td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: 4px">&#160;Terrance
              J. Bruggeman</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="20%" style="BORDER-BOTTOM: 4px">248,000</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Legal
      Proceedings Regarding the Merger </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">There
      are
      no legal proceedings regarding the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">58</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>THE
      MERGER AGREEMENT </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>The
      following summary describes the material provisions of the merger agreement.
      The
      provisions of the merger agreement are complicated and not easily summarized.
      This summary may not contain all of the information about the merger agreement
      that is important to you. The merger agreement is attached to this proxy
      statement/prospectus as Annex A and is incorporated by reference into this
      proxy
      statement/prospectus, and we encourage you to read it carefully in its entirety
      for a more complete understanding of the merger agreement. </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="toc46264_76"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      Merger </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      merger agreement provides for the merger of Somanta Acquisition Corporation,
      a
      newly formed, wholly owned subsidiary of Access, with Somanta. Somanta will
      survive the merger as a wholly owned subsidiary of Access. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_77"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Closing
      and Effective Time of the Merger </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      will
      complete the merger when all of the conditions to completion of the merger
      contained in the merger agreement, which are described in the section entitled
      &#8220;Conditions to Obligations to Complete the Merger&#8221; beginning on page 66, are
      satisfied or waived, including the issuance of shares of Access common stock
      in
      the merger and approval and adoption of the merger agreement and approval of
      the
      merger contemplated by the merger agreement by the Somanta stockholders. The
      merger will become effective upon the filing of a certificate of merger with
      the
      Secretary of State of the State of Delaware. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      are
      working to complete the merger as quickly as possible. Because completion of
      the
      merger is subject to certain conditions that are beyond our control, we cannot
      predict the exact timing, although absent any unanticipated delay, we expect
      to
      close the merger during the third quarter of 2007 and in any event, within
      two
      business days of obtaining the required Somanta stockholder approvals.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_78"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Treatment
      of Securities </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      the
      proposed merger is completed, the holders of Somanta&#8217;s common stock are expected
      to receive approximately 0.032343 of a share of Access common stock for each
      share of Somanta common stock they own immediately prior to completion of the
      merger, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">not
      to
      exceed in the aggregate 500,000 of Access common stock, and the holders of
      Somanta&#8217;s preferred stock, including their accrued and unpaid dividends are,
      expected to receive approximately 1690.24045 shares of Access common stock
      for
      each share of Somanta preferred stock they own immediately prior to completion
      of the merger, not to exceed in the aggregate 1,000,000 shares of Access common
      stock</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      In
      addition, a total of approximately 192,000 shares of Access common stock will
      be
      reserved for issuance upon the exercise of the outstanding 5,936,304 warrants
      to
      purchase Somanta common stock assumed by Access in connection with the merger.
      Warrants to purchase 1,166,534 shares of common stock of Somanta which are
      held
      by SCO Capital Partners LLC and SCO Financial Group LLC are expected to be
      exercised prior to the closing of the merger and is more fully described below
      under &#8220;Treatment of Somanta Warrants&#8221; beginning on page 60.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      exchange ratios in the merger will be adjusted to reflect the effect of any
      stock split, reverse stock split, reclassification, stock dividend,
      reorganization, recapitalization, consolidation, exchange or other like change
      with respect to Access common stock or Somanta common stock occurring or having
      a record date after the date of the merger agreement and prior to the effective
      time of the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">After
      the
      merger, Access stockholders will continue to own their existing shares of Access
      common stock. Accordingly, Access stockholders will hold the same number of
      shares of Access common stock that they held immediately prior to the merger.
      However, because Access will be issuing new shares of Access common stock to
      Somanta stockholders in the merger, each outstanding share of Access common
      stock immediately prior to the merger will represent a smaller percentage of
      the
      total number of shares of Access common stock outstanding after the merger.
      Based on the number of shares of Access and Somanta common stock and preferred
      stock outstanding on the Somanta record date, we expect that Access stockholders
      before the merger will hold approximately 87% of the fully diluted shares of
      Access common stock immediately after the merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with the Certificate of Designation of Somanta&#8217;s Series A preferred
      stock, holders of a majority of the Series A preferred stock of Somanta have
      acknowledged and agreed that if the stockholders of Somanta approve the Merger
      Agreement and the transactions contemplated thereby, then each share of
      preferred stock will be exchanged for common stock of Access and the rights,
      preferences and privileges associated with such Series A preferred stock will
      cease to exist as of the closing of the Merger. For a full description of a
      comparison of the rights of the Access common stock to the rights o the Somanta
      common stock and Series A preferred stock, see &#8220;Comparison of Stockholder Rights
      and Corporate Governance Matters&#8221; beginning on page 224.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">59</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_79"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Fractional
      Shares </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      will not issue any fractional shares of common stock in connection with the
      merger. Instead, each holder of Somanta common stock or preferred stock who
      would otherwise be entitled to receive a fraction of a share of Access common
      stock will receive cash, without interest, in an amount equal to the fraction
      multiplied by the average closing price of Access common stock (determined
      after
      aggregating all of the Somanta common stock or preferred stock held by each
      such
      holder and multiplying such shares by the stock exchange ratio), as reported
      on
      the OTC Bulletin Board, for the ten (10) trading days immediately preceding
      the
      closing date of the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_80"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Treatment
      of Somanta Warrants </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">When
      the
      merger is completed, Access will assume each outstanding warrant to purchase
      shares of Somanta common stock and convert them into warrants to purchase shares
      of Access common stock. As of the Somanta record date, warrants for
      approximately 5,936,304 shares of Somanta common stock were outstanding in
      the
      aggregate which shall become warrants to purchase approximately 192,000 shares
      of common stock of Access with exercise prices ranging from $18.55 to $23.19.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Treatment
      of Somanta Options</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      will not assume, or provide a substitute option, for any of Somanta&#8217;s
      outstanding stock options. As a result, pursuant to the terms of Section 11.3(d)
      of the Equity Incentive Plan, Somanta&#8217;s Board of Directors has resolved to: (i)
      allow the immediate and accelerated vesting of all of the options granted,
      and
      (ii) allow for the exercise of the outstanding options, in whole or in part,
      until the close of business on Thursday, May 31, 2007. A failure to validly
      exercise the options in accordance prior to the close of business on May 31,
      2007 will mean that after such time, the unexercised option will have expired
      and will no longer be exercisable in whole or in part. Somanta does not expect
      any of the options to be exercised since the options are substantially out
      of
      the money. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_81"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exchange
      Fund; Exchange of Stock Certificates </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Upon
      completion of the merger, Access will establish an exchange fund with American
      Stock Transfer &amp; Trust Company, the exchange agent for the merger, to hold
      the stock and cash to be issued in lieu of fractional shares of Access common
      stock to be paid to Somanta stockholders (other than holders demanding appraisal
      of their shares of Somanta common stock) in connection with the merger. The
      exchange fund will consist of stock certificates representing shares of Access
      common stock and cash to be issued in lieu of fractional shares of Access common
      stock, with a record date occurring after the completion of the merger.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      soon
      as reasonably practicable following completion of the merger, American Stock
      Transfer &amp; Trust Company will mail to each record holder of Somanta common
      stock and preferred stock a letter of transmittal and instructions for
      surrendering the record holder&#8217;s stock certificates in exchange for the
      certificate representing the shares of Access common stock issuable to each
      such
      holder pursuant to the merger. Only those holders of Somanta common stock or
      preferred stock who properly surrender their Somanta stock certificates in
      accordance with the exchange agent&#8217;s instructions will receive (1) a certificate
      representing the shares of Access common stock issuable to each such holder
      pursuant to the merger and (2) cash in lieu of any fractional share of Access
      common stock issuable to any such holders. The surrendered certificates
      representing Somanta common stock or preferred stock will be canceled. After
      the
      effective time of the merger, each certificate representing shares of Somanta
      common stock or preferred stock that has not been surrendered will represent
      only the right to receive shares of Access common stock issuable pursuant to
      the
      merger and cash in lieu of any fractional share of Access common stock to which
      the holder of any such certificate is entitled. Somanta stockholders who hold
      their shares in book entry will receive instructions for the exchange of their
      shares for the merger consideration included in the transmittal forms sent
      to
      them by the exchange agent. Following the completion of the merger, Somanta
      will
      not register any transfers of Somanta common stock on its stock transfer books.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Holders
      of Somanta common stock or preferred stock should not send in their Somanta
      stock certificates until they receive a letter of transmittal from American
      Stock Transfer &amp; Trust Company with instructions for the surrender of
      Somanta stock certificates. </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">60</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_82"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Distributions
      with Respect to Unexchanged Shares </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Holders
      of Somanta common stock or preferred stock are not entitled to receive any
      dividends or other distributions on Access common stock until the merger is
      completed. After the merger is completed, holders of Somanta common stock or
      preferred stock will be entitled to dividends and other distributions declared
      or made after completion of the merger with respect to the number of whole
      shares of Access common stock which they are entitled to receive upon exchange
      of their Somanta common stock or preferred stock. These holders will not be
      entitled to receive these dividends or distributions, however, until they
      surrender their Somanta common stock or preferred stock to the exchange agent
      in
      accordance with the exchange agent instructions. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_83"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Termination
      of Exchange Fund; No Liability </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      any
      time following the first six (6) months of the completion of the merger, Access
      will be entitled to the return of all cash and shares of Access common stock
      held in the exchange fund. Thereafter, Somanta stockholders may look only to
      Access for any merger consideration and any cash payment relating to any
      dividends or distributions to which they may be entitled upon surrender of
      their
      certificates representing shares of Somanta common stock or preferred stock.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Neither
      Access, Somanta Acquisition Corporation nor Somanta will be liable to any holder
      of Somanta common stock or preferred stock or Access common stock, as the case
      may be, for any shares (or any related dividends or distributions) delivered
      to
      a public official under any applicable abandoned property, escheat or similar
      law following the passage of time specified therein. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_84"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Lost,
      Stolen and Destroyed Certificates </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      will issue only (1) Access common stock and (2) cash in lieu of a fractional
      share that may be applicable in a name other than the name in which a
      surrendered Somanta stock certificate is registered if the person requesting
      the
      exchange presents to the exchange agent all documents required to show and
      effect the unrecorded transfer of ownership and to show that the requesting
      person paid any applicable stock transfer taxes. If a Somanta stock certificate
      is lost, stolen or destroyed, the holder of the certificate may need to deliver
      an affidavit and an indemnity bond prior to receiving any merger consideration.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Representations
      and Warranties </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      merger agreement contains general representations and warranties made by each
      of
      Access and Somanta Acquisition Corporation on the one hand, and Somanta, Somanta
      Incorporated, its wholly owned Delaware subsidiary and Somanta Limited, Somanta
      Incorporated&#8217;s wholly owned United Kingdom subsidiary on the other, regarding
      aspects of their respective businesses, financial condition and structure,
      as
      well as other facts pertinent to the merger. These representations and
      warranties are subject to materiality, knowledge and other similar
      qualifications in many respects, expire at the effective time of the merger
      and
      relate to the following subject matters: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">corporate
                organization, qualifications to do business, corporate standing and
                corporate power; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">absence
                of any breach of each party&#8217;s certificate of incorporation and bylaws and
                the certificates of incorporation, bylaws and similar organizational
                documents of its subsidiaries; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">capitalization;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">corporate
                authorization, including board approval, to enter into and carry
                out the
                obligations contained in the merger agreement;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">enforceability
                of the merger agreement; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                vote of Somanta stockholders required to complete the merger;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">governmental
                and regulatory approvals required in connection with the merger;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">absence
                of any conflict or violation of the corporate charter and bylaws
                and the
                charter, bylaws and similar organizational documents of subsidiaries,
                any
                applicable legal requirements, or any agreements with third parties,
                as a
                result of entering into and carrying out the obligations contained
                in the
                merger agreement; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">61</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">absence
                of any rights of first refusal or acquisition or pre-emptive rights
                with
                respect to capital stock or other assets or properties arising or
                resulting from entering into and carrying out the obligations contained
                in
                the merger agreement; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">compliance
                with applicable laws, and possession and compliance with all permits
                required for the operation of business;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">SEC
                filings and the financial statements contained in those filings;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">controls
                and procedures for required disclosures of financial and non-financial
                information to the SEC; </font></div>
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          </tr>

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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">absence
                of certain changes or events between the date of the last audited
                balance
                sheet and April 30, 2006; </font></div>
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          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">absence
                of undisclosed liabilities; </font></div>
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          </tr>

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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">litigation;
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">material
                contracts and the absence of breaches of material contracts;
                </font></div>
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          </tr>

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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">employee
                benefit plans and labor relations; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">real
                property matters; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">taxes;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">environmental
                matters; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">intellectual
                property; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">brokers
                used in connection with the merger;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">applicability
                of Delaware anti-takeover statutes to the merger;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">insurance;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">opinion
                of financial advisor, in the case of Access.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Conduct
      of Business before Completion of the Merger </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      merger agreement, each of Access and Somanta has agreed that, until the earlier
      of the completion of the merger or termination of the merger agreement, or
      unless the other party consents in writing, it will carry on its business in
      the
      ordinary course consistent with past practices and in material compliance with
      applicable law, and will use commercially reasonable efforts to: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">preserve
                intact its present business organization;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
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                available the services of its current officers, employees and consultants;
                and </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">preserve
                its relationships with customers, suppliers, distributors and others
                with
                which it has significant business relations.
</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
      <div id="HDR">
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        </div>
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      <div>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      merger agreement, Somanta has agreed that, until the earlier of the completion
      of the merger or termination of the merger agreement, or unless Access consents
      in writing, it will not (and will not permit its subsidiaries to): </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">declare,
                set aside or pay any dividends;</font></div>
            </td>
          </tr>

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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">authorize
                for issuance, issue, deliver, sell pledge or otherwise encumber any
                shares
                of its capital stock, or any other securities or equity equivalents,
                other
                than the issuance of Somanta common stock on the exercise of Somanta
                stock
                options, the exercise of the Somanta warrants or the conversion of
                Somanta
                preferred stock;</font></div>
            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">amend
                the Certificate of Incorporation, By-Laws or other comparable charter
                or
                organizational documents;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">acquire
                or agree to acquire or merging or consolidating with any business
                or any
                corporation, partnership joint venture, association or other business
                organization;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">sell,
                lease, license, mortgage or otherwise encumber or subject to any
                lien or
                otherwise dispose of any assets or properties other than in the ordinary
                course of business;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">incur
                or guarantee any indebtedness or make any loans, advances or capital
                contributions to, or investments in, any other person or
                entity;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">acquire
                or agree to acquire any assets other than inventory in the ordinary
                course
                of business;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">pay,
                discharge or satisfy any claims, liabilities or obligations other
                than
                those arising in the ordinary course of
                business;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">waive,
                release, grant or transfer any rights of material value other than
                as set
                for in the Company Disclosure Schedules to the merger
                agreement;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">adopt
                a plan of complete or partial liquidation or dissolution, merger,
                consolidation, restructuring, recapitalization or
                reorganization;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">enter
                into or amend any collective bargaining
                agreement;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">change
                any material accounting principle;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">settle
                or compromise any litigation</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">engage
                in any transaction or enter into any agreement with any of Somanta&#8217;s
                affiliates;</font></div>
            </td>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">transfer
                any rights to its intellectual
                property;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">enter
                into or amend any agreement to which any other party is granted exclusive
                rights to any product or
                technology;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">make
                any material tax election or settle or compromise any material tax
                liability;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">adopt
                or amend any bonus, profit sharing, compensation stock option, employment
                or other employment benefit plan or
                agreement;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">grant
                any new or modify any severance or termination
                arrangement;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">effectuate
                a &#8220;plant closing&#8221; or &#8220;mass layoff,&#8221; as those terms are defined in
                WARN;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">intentionally
                take or cause to be taken any action not otherwise consistent with
                the
                transactions contemplated by this merger, which could reasonably
                be
                expected to prevent the merger from qualifying as a &#8220;reorganization&#8221;
                within the meaning of Section 368(a) of the Code; and
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">take
                any actions that could reasonably be expected to result in any of
                its
                representations and warranties set for in the Merger Agreement being
                or
                becoming untrue in any material
                respect.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">63</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      Prohibited from Soliciting Other Offers </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, subject to certain exceptions described below,
      Somanta agreed that it will not, directly or indirectly: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">solicit,
                initiate, facilitate, encourage, furnish information or take any
                other
                action (other than to disclose the existence of its non-solicitation
                obligation under the merger agreement) that is designed to, or is
                reasonably likely to lead to, any acquisition proposal by a third
                party of
                the type described below; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">participate
                in any discussions or negotiations with any third party regarding
                any
                acquisition proposal of the type described below; or
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">enter
                into any letter of intent or similar document or any contract agreement
                or
                commitment constituting or otherwise relating to any acquisition
                proposal
                of the type described below or any transaction contemplated by the
                acquisition proposal. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, Somanta agreed that it will not authorize or permit any of its
      subsidiaries, directors, officers, employees, agents or representatives
      (including any retained investment banker, attorney or accountant), to do any
      of
      the foregoing. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      purposes of the restrictions described above, an acquisition proposal is any
      inquiry, proposal or offer, filing of any regulatory application or disclosure
      of any intention relating to any of the following: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                direct or indirect acquisition of a business that constitutes a
                substantial portion of the net revenues, net income or assets of
                the party
                or its significant subsidiaries; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                direct or indirect acquisition by any person or group of equity securities
                representing 33.3% or more of the party or any of its significant
                subsidiaries; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                tender offer or exchange offer that would result in any person owning
                33.3% or more of the party&#8217;s voting power; or
</font></div>
            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                merger, consolidation, business combination or similar transaction
                involving a party or any of its subsidiaries, other than transactions
                specifically permitted under the merger agreement.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      merger agreement, Somanta also agreed, and agreed to cause their subsidiaries,
      affiliates, directors, officers, employees, agents and representatives
      (including any retained investment banker, attorney or accountant), to:
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">cease
                all existing activities or negotiations with respect to any acquisition
                proposal; and </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">not
                release any third party from, or waive any provisions of, any existing
                confidentiality or standstill agreement with respect to any acquisition
                proposal. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notwithstanding
      the prohibitions described above, if Somanta receives an unsolicited bona fide
      written acquisition proposal before the date of its stockholder meeting to
      approve the transactions contemplated by the merger agreement, under the terms
      of the merger agreement, the party receiving the acquisition proposal is
      permitted to engage in discussions and negotiations with, and provide nonpublic
      information to, the party making the acquisition proposal as long as:
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                receiving party&#8217;s board of directors determines in good faith, after
                consulting with outside legal counsel, that the failure to take such
                action would be reasonably likely to be a breach of its fiduciary
                duties
                under applicable law; and </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                receiving party has entered into a confidentiality agreement with
                the
                person making the acquisition proposal at least as restrictive as
                the
                confidentiality agreement between Access and Somanta.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_89"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Obligations
      of Somanta Board of Directors with Respect to its Recommendation and Holding
      a
      Meeting of Somanta Stockholders </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, the Somanta board of directors agreed to call,
      hold and convene a meeting of its stockholders promptly after the registration
      statement of which this proxy statement/prospectus forms a part is declared
      effective by the SEC. The Somanta board of directors agreed to recommend the
      approval and adoption of the merger agreement and approval of the merger to
      its
      stockholders and to use reasonable best efforts to hold the stockholders meeting
      as soon as reasonably practicable after the Form S-4 shall have been declared
      effective. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">64</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Somanta board of directors also agreed not to withdraw or modify, or publicly
      propose to withdraw or modify, its recommendations relating to the merger and
      the merger agreement, and not to adopt, approve or recommend to the Somanta
      stockholders that they accept any other acquisition proposal of the type
      described above or any superior proposal. For purposes of this restriction,
      a
      superior proposal is an acquisition proposal of the type described above on
      terms that Somanta&#8217;s board of directors has determined in good faith to be more
      favorable to Somanta&#8217;s stockholders than the merger (or a counterproposal from
      the other party to the merger), and after taking into account all the terms
      of
      conditions of the proposal and the merger agreement, including: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                counterproposal by the other party to the merger agreement,
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                likelihood that the transactions contemplated by the other proposal
                will
                be completed in a timely manner, and
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                extent to which any financing required in the acquisition proposal
                is
                committed or capable of being obtained.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notwithstanding
      the obligations described above, in response to an acquisition proposal of
      the
      type described above deemed by the Somanta board of directors to be a superior
      proposal, the board of directors of Somanta may change its recommendation,
      announce an intention to change its recommendation or recommend its stockholders
      accept or approve a superior proposal of the type described above if the
      following conditions are met: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                superior proposal of the type described above has been made and has
                not
                been withdrawn; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                stockholders&#8217; meeting of Somanta has not occurred;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                board of directors has determined in good faith, after consulting
                with
                outside legal counsel, that in light of the superior proposal, the
                failure
                to take such action would be reasonably likely to be a breach of
                its
                fiduciary duties under applicable law; and
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                has provided Access with two (2) business days&#8217; prior written notice of
                its intention to take such action, specifying in the notice the material
                terms and conditions of the superior proposal, as well as the identity
                of
                the third party making the proposal.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Regardless
      of whether the Somanta board of directors has received an acquisition proposal
      or a superior proposal of the type described above, or has withheld, withdrawn,
      amended or modified its recommendation to its stockholders relating to the
      merger, or has approved or recommended that its stockholders accept a superior
      proposal of the type described above, Somanta is obligated to call, give notice
      of, convene and hold a special meeting of its stockholders to consider and
      vote
      upon its respective proposal relating to the merger and the fact that any of
      the
      foregoing has occurred will not give Somanta a right to terminate the merger
      agreement or affect any other obligation of the parties under the merger
      agreement. Somanta is permitted under the merger agreement to submit any
      acquisition proposal, including a superior proposal, to a vote of its
      stockholders at or prior to its stockholders&#8217; meeting relating to the merger.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_90"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Regulatory
      Matters </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      merger is not subject to antitrust laws.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_91"/><a name="toc46264_92"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Public
      Announcements </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Neither
      Access nor Somanta will issue any press release or make any public statement
      with respect to the merger agreement or the merger without the prior written
      consent of the other party, which consent shall not be unreasonably withheld.
      However, Access and Somanta may, without the prior consent of the other, issue
      a
      press release or make a public statement relating to the merger agreement or
      the
      merger if, after consulting with outside counsel, it determines that the press
      release or public statement is required by applicable law or the rules and
      regulations of the OTC Bulletin Board, and it has consulted with the other
      party
      prior to the issue of such press release or public statement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">65</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_93"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Indemnification
      and Insurance </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, Access agreed to honor all obligations of Somanta
      contained in any indemnification agreement in effect prior to completion of
      the
      merger between Somanta or its subsidiaries and any of its current or former
      directors or officers. Access and its subsidiaries will cause the certificate
      of
      incorporation and bylaws of the surviving corporation in the merger to contain
      provisions with respect to indemnification and exculpation that are at least
      as
      favorable as the indemnification and exculpation provisions contained in the
      certificate of incorporation or bylaws or similar organizational documents
      of
      Somanta and its subsidiaries in effect prior to completion of the merger, and
      Access and its subsidiaries will not amend, repeal or otherwise modify the
      documents in any respect, except as required by law. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      six
      years from completion of the merger, Access also agreed to purchase and maintain
      a tail policy of Somanta&#8217;s directors&#8217; and officers&#8217; liability insurance covering
      claims arising from facts or events that occurred prior to the completion of
      the
      merger, including acts or omissions occurring in connection with the merger
      agreement and completion of the merger to the extent such acts or omissions
      are
      covered by the existing insurance policy, and covering each director and officer
      of Somanta who was covered at the effective time of the merger on terms with
      respect to coverage and amounts no less favorable than those in effect prior
      to
      the signing of the merger agreement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><a name="toc46264_94"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      Board of Directors after the Merger </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Upon
      completion of the merger, the Access board of directors will be remain the
      same.
      The directors of Access prior to the completion of the merger will continue
      to
      serve as the directors of Access after the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_95"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Reasonable
      Best Efforts to Complete the Merger </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, each of Access and Somanta has agreed to
      cooperate fully with the other and use its reasonable best efforts to take
      all
      actions, and to do all things necessary, proper or advisable to complete the
      merger in the most expeditious manner possible, including: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">obtaining
                all consents, approvals, waivers, licenses, permits or authorizations
                as
                are required to be obtained in connection with the merger;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">defending
                any lawsuit or proceeding seeking to challenge the merger agreement
                or the
                merger contemplated by the merger agreement;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">accepting
                and delivering any additional instruments necessary to consummate
                the
                merger;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">in
                the case of Somanta, delivering proper notice to its stockholders
                in
                accordance with Delaware Law of such stockholders&#8217; appraisal rights;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">satisfying
                the conditions to closing set forth in the merger
                agreement.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Conditions
      to Obligations to Complete the Merger </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      respective obligations of Access and Somanta Acquisition Corporation, on the
      one
      hand, and Somanta, on the other, to complete the merger and the other
      transactions contemplated by the merger agreement are subject to the
      satisfaction or waiver of each of the following conditions: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                SEC shall have declared Access&#8217; registration statement effective, no stop
                order suspending its effectiveness shall have been issued and no
                proceedings for suspension of the registration statement&#8217;s effectiveness,
                or a similar proceeding in respect of this proxy statement/prospectus,
                shall have been initiated or threatened in writing by the SEC;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                merger agreement shall have been approved and adopted and the merger
                shall
                have been approved by the vote of holders of the requisite number
                of
                shares of Somanta common stock and preferred stock under applicable
                law,
                as more fully described under &#8220;The Somanta Special Meeting&#8212;Quorum and Vote
                Required&#8221; beginning on page 40; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">no
                statute, rule, regulation or order shall have been enacted, entered,
                enforced or deemed applicable to the merger by a governmental entity
                of
                competent jurisdiction and has the effect of making completion of
                the
                merger illegal. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">66</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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      <div id="HDR">
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        </div>
      </div>
      <div>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, individually, the respective obligations of Access and Somanta
      Acquisition Corporation on the one hand, and Somanta, Somanta Incorporated
      and
      Somanta Limited on the other, to effect the merger and the other transactions
      contemplated by the merger agreement are subject to the satisfaction or waiver
      of the following additional conditions: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                representations and warranties of the other party shall have been
                true and
                correct (without giving any effect to any qualification as to materiality
                or material adverse effect contained in any specific representation
                or
                warranty) on the date the merger agreement was signed (</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>i.e.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
                April 18, 2007) and as of the date the merger is to be completed
                as if
                made at and as of that time, except:
</font></div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="72%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">for
                changes contemplated or permitted by the merger
                agreement,</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="72%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">to
                the extent the representations and warranties of the other party
                address
                matters only as of a particular date, they must be true and correct
                only
                as of that date, and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="3%">&#160;</td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="72%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">where
                any failures of such representations and warranties to be true and
                correct
                have, individually or in the aggregate, a material adverse effect,
                as
                defined below;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="73%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                other party shall have performed or complied in all material respects
                with
                all of its agreements and covenants required by the merger agreement
                to be
                performed or complied with by it before completion of the
                merger;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="73%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">no
                material adverse effect, as defined below, with respect to the other
                party
                shall have occurred since the date the merger agreement was signed
                (</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>i.e.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
                April 18, 2007) and be continuing; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="73%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                applicable maturity date of all of Access&#8217; outstanding debt (whether
                principal or interest) owed to SCO Partners LLC (and its affiliates)
                and
                Oracle Partners LP (and its affiliates) shall have been extended
                to a date
                on or after June 11 and 12, 2007, or such debt shall have been converted
                into Access common stock;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="73%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                shall have received evidence, satisfactory to it, that as of the
                closing
                date of the merger the amount of Somanta&#8217;s then outstanding liabilities
                (including, without limitation, all amounts owed (i) to employees,
                officers and consultants of Somanta (and its subsidiaries) and (ii)
                to any
                stockholder with respect to any failure by Somanta to timely satisfy
                any
                obligation to register for resale under the Securities Act any Somanta&#8217;s
                securities held by such person) does not exceed $1,000,000 in the
                aggregate.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Material
      Adverse Effect </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, a material adverse effect on either Access or
      Somanta means any change, effect or circumstance that (i) is materially adverse
      to the business, operation, properties or condition (financial or otherwise)
      of
      Access and any of its subsidiaries or Somanta and any of its subsidiaries,
      taken
      as a whole, or (ii) materially adversely affects the completion of the
      transactions contemplated by the merger agreement. However, under the terms
      of
      the merger agreement, none of the following, either alone or in combination,
      will be deemed to constitute, nor will any of the following be taken into
      account in determining whether there has been or will or could be, a material
      adverse effect: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                change resulting from or arising out of changes in laws or regulations,
                or
                interpretations thereof by courts or other governmental authorities,
                which
                are generally applicable to Somanta and Access;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                changes resulting from or arising out of general market, economic
                or
                political conditions, or conditions the industries in which Access
                or
                Somanta conduct business (including any changes arising out of acts
                of
                terrorism, or war, weather conditions or other force majeure events),
                provided that the changes do not have a substantially disproportionate
                impact on Access and any of its subsidiaries or Somanta and any of
                its
                subsidiaries, as the case may be, taken as a whole;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                changes resulting from or arising out of actions taken by Somanta
                with the
                prior written consent of Access; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                changes or effects arising out of or resulting from any expenses
                incurred
                by Somanta in entering into the merger agreement, consummating the
                merger
                or terminating any of Somanta&#8217;s plans as provided for in the merger
                agreement; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">any
                changes or effects arising out of or resulting from any change in
                U.S.
                generally accepted accounting principles or regulatory accounting
                principles generally applicable to Somanta or
                Access.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">67</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_98"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Termination;
      Break-Up Fees and Expenses </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Termination
      </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      merger agreement may be terminated in accordance with its terms at any time
      prior to completion of the merger, whether before or after the approval and
      adoption of the merger agreement and approval of the merger by Somanta
      stockholders: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">by
                mutual written consent of Access and Somanta duly authorized by their
                respective boards of directors; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">by
                Access or Somanta, if the merger is not completed by August 31, 2007,
                provided that neither Access nor Somanta may terminate the merger
                agreement on this basis if that party has breached its obligations
                under
                the merger agreement if such breach has been a principal cause of,
                or
                resulted in, the failure of the merger to occur on or before that
                date, or
                if the terminating party has not complied with its obligations relating
                to
                payment of fees and expenses described below;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">by
                Access or Somanta, if a court of competent jurisdiction or governmental,
                regulatory or administrative agency has issued a nonappealable final
                order
                or taken any other action having the effect of permanently prohibiting
                the
                merger; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">by
                Access or Somanta, if the merger agreement and the merger fails to
                receive
                the requisite affirmative vote for adoption and approval at the Somanta
                stockholders&#8217; meeting, provided that Somanta may not terminate the merger
                agreement on this basis if Somanta has breached, in any material
                respect,
                the provisions of the merger agreement relating to non-solicitation,
                board
                recommendations and filing this proxy statement/prospectus, or if
                the
                terminating party has not complied with its obligations relating
                to
                payment of fees and expenses described below;
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">by
                Access, if Somanta has breached any of the provisions of the merger
                agreement relating to non-solicitation and board recommendations;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">by
                Access, upon a breach of, or failure to perform, any representation,
                warranty, covenant or agreement on the part of Somanta in the merger
                agreement that the condition to completion of the merger regarding
                Somanta&#8217;s representations and warranties or covenants would not be met;
                however, if the breach or inaccuracy is curable by Somanta through
                the
                exercise of reasonable efforts, then Access may not terminate the
                merger
                agreement for ten (10) days after delivery of written notice from
                Access
                to Somanta of the breach, and if the breach is cured during those
                ten (10)
                days, or if Access is otherwise in material breach of the merger
                agreement, Access may not exercise this termination right;
                or</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="justify" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">by
                Somanta, upon a breach of, or failure to perform, any representation,
                warranty, covenant or agreement on the part of Access in the merger
                agreement so that the condition to completion of the merger regarding
                Access&#8217;s representations and warranties or covenants would not be met;
                however, if the breach or inaccuracy is curable by Access through
                the
                exercise of reasonable efforts, then Somanta may not terminate the
                merger
                agreement for ten (10) days after delivery of written notice from
                Somanta
                to Access of the breach, and if the breach is cured during those
                ten (10)
                days, or if Somanta is otherwise in material breach of the merger
                agreement, Somanta may not exercise this termination
                right.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Break-Up
      Fees and Expenses </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, Access must pay up to $100,000 as reimbursement
      for Somanta&#8217;s expenses if: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>&#160;</td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">either
                Access or Somanta terminates the merger agreement because the merger
                has
                not been completed on or before August 31, 2007, but only if such
                failure
                to complete the merger occurs because: (i) the representations and
                warranties of Access become untrue prior to or as of the closing
                date of
                the merger; or (ii) Access fails to perform its obligations as required
                under the merger agreement; or</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>&#160;</td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                terminates the merger agreement because of Access&#8217; breach of any
                representation, warranty, covenant or agreement made in the merger
                agreement, or because Access&#8217; representations and warranties become
                untrue, and such breach or inaccuracy in Somanta&#8217;s representations and
                warranties is not cured within ten (10) business days of the time
                such
                representations or warranties of Somanta become untrue or such breach
                by
                Somanta occurs.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">68</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, Somanta must pay up to $750,000 as reimbursement
      for Access&#8217; expenses if:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>&#160;</td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">either
                Access or Somanta terminates the merger agreement because the merger
                has
                not been completed on or before August 31, 2007, because of the failure
                of
                certain closing conditions set forth in the merger agreement including,
                without limitation: (i) Somanta fails to perform the obligations
                that it
                is required to perform under the terms of the merger agreement; (ii)
                a
                material adverse effect occurs with respect to Somanta; or (iii)
                Somanta
                breaches of any representation, warranty, covenant or agreement made
                in
                the merger agreement, or Somanta&#8217;s representations and warranties have
                become untrue, and such breach or inaccuracy in Somanta&#8217;s representations
                and warranties has not been cured within ten (10) business days of
                the
                time such representations or warranties of Somanta become untrue
                or such
                breach by Somanta has occurred.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of the merger agreement, Somanta must pay Access a termination fee of
      $750,000 if:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>&#160;</td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                terminates the merger agreement because of Somanta&#8217;s failure to obtain the
                requisite vote by Somanta stockholders at the Somanta stockholders&#8217;
                meeting approving the merger agreement and the
                merger;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                terminates the merger agreement because: (i) Somanta&#8217;s Board of Directors
                withdraws, modifies or amends its approval or recommendation for
                stockholder approval of the merger in a manner adverse to Access;
                (ii)
                Somanta fails to mail the stockholder statement to Somanta stockholders
                as
                promptly as reasonably practicable after this registration statement
                became effective; (iii) Somanta&#8217;s Board of Directors recommends an
                acquisition proposal from an entity other than Access; (iv) Somanta&#8217;s
                Board resolves to do any of the actions defined in clauses (i)-(iii);
                and
                (v) Somanta&#8217;s Board of Directors fails to recommend rejection of a tender
                offer or exchange offer for more than ten percent (10%) of the outstanding
                shares of Somanta&#8217;s common stock or preferred stock at the time of filing
                of the requisite Schedule 14d-9 with the
                SEC;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>&#160;</td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                terminates the merger agreement because of Somanta&#8217;s breach of any
                representation, warranty, covenant or agreement made in the merger
                agreement, or because Somanta&#8217;s representations and warranties have become
                untrue, and such breach or inaccuracy in Somanta&#8217;s representations and
                warranties has not been cured within ten (10) business days of the
                time
                such representations or warranties of Somanta become untrue or such
                breach
                by Somanta occurs; or</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                terminates the merger agreement because Somanta&#8217;s Board concludes in good
                faith, based on advice from its legal counsel, that in order to satisfy
                its fiduciary duties to Somanta stockholders under Delaware law it
                must
                not make, or must withdraw or modify, its recommendation that the
                Somanta
                stockholders approve the merger, and makes such a withdrawal or
                modification of its recommendation for approval of the
                merger.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Expenses
      Generally </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Except
      as
      provided above, all fees and expenses incurred in connection with the merger
      will be paid by the party incurring the fees or expenses, whether or not the
      merger is completed, other than expenses incurred in connection with filing,
      printing and mailing this proxy statement/prospectus, the registration
      statement, or any similar filing requirement of any governmental entity
      applicable to the merger, which will be shared equally by Access and
      Somanta.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">69</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>INFORMATION
      ABOUT ACCESS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="DescriptionBusiness"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>DESCRIPTION
      OF BUSINESS</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Business</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      Pharmaceuticals, Inc. (&#8220;Access&#8221;) is a Delaware corporation. Access is an
      emerging biopharmaceutical company developing products for use in the treatment
      of cancer, the supportive care of cancer, and other disease states. Access&#8217;
product for the management of oral mucositis, MuGard&#8482;, received marketing
      clearance by the FDA as a device. Its lead clinical development program for
      the
      drug candidate ProLindac&#8482; (formerly known as AP5346) is in Phase II clinical
      testing. Access also has advanced drug delivery technologies including
      Cobalamin&#8482;-mediated oral drug delivery and targeted delivery.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Together
      with its subsidiaries, Access has proprietary patents or rights to one
      technology approved for marketing and three drug delivery technology
      platforms:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;
      &#160;MuGard&#8482; (mucoadhesive liquid technology),</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      synthetic polymer targeted delivery,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cobalamin-mediated oral delivery, </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cobalamin-mediated targeted delivery.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Products</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has used its drug delivery technologies to develop the following products and
      product candidates:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ACCESS
      DRUG PORTFOLIO</strong></font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
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            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Originator</strong></font></div>
            </td>
            <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Technology</strong></font></div>
            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Indication</strong></font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
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                (1)</strong></font></div>
            </td>
          </tr>
          <tr>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">MuGard&#8482;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="8%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
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                (Polymer</font></div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                - U London</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%">
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            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%">
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            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="9%">
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          </tr>
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            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Oral
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            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="8%">
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
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            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
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            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
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          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
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            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="8%">
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            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Various</font></div>
            </td>
            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
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          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin-Targeted
                Therapeutics</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Anti-tumor</font></div>
            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="8%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;
      For more information, see &#8220;Government Regulation&#8221; for description of clinical
      stages.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;
      Licensed from the School of Pharmacy, The University of London. Subject to
      a 1%
      royalty and milestone payments on sales.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Approved
      Products</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>MuGard&#8482;
      - Mucoadhesive Liquid Technology (MLT)</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mucositis
      is a debilitating condition involving extensive inflammation of mouth tissue
      that affects annually an estimated 400,000 cancer patients in the United States
      undergoing chemotherapy and radiation treatment. Any treatment that would
      accelerate healing and/or diminish the rate of appearance of mucositis would
      have a significant beneficial impact on the quality of life of these patients
      and may allow for more aggressive chemotherapy. Access believes the potential
      addressable market for a mucositis product could be over $1 billion
      world-wide.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">70</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      MuGard&#8482; is a viscous polymer solution which provides a coating for the oral
      cavity. MuGard&#8482; is dispensed in a ready to use form. A multi-site, randomized
      clinical study was performed in the United States testing MuGard&#8482; and MuGard&#8482;
containing an anti-inflammatory drug to determine the effect of these products
      on the prevention and treatment of mucositis. The data from this trial indicated
      that the patients using MuGard&#8482; displayed a lower incidence of mucositis than is
      typically seen in the studied population with no additional benefit from the
      drug.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      data
      were retrospectively compared with two historical patient databases to evaluate
      the potential advantages MuGard&#8482; may represent in the prevention, treatment and
      management of mucositis. The patient evaluation was conducted using the oral
      mucositis assessment scale, which qualifies the disease severity on a scale
      of
      0-5. Key highlights of the comparison with the historical patient databases
      are
      as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      the average severity of the disease was reduced by approximately
      40%;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      the maximum intensity of the mucositis was approximately 35% lower;
      and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      the median peak intensity was approximately 50% lower.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">These
      data confirmed that fact that MuGard&#8482; could represent an important advancement
      in the management and prevention of mucositis. On September 20, 2006, Access
      announced that it had submitted a Premarket Notification 510(k) application
      to
      the United States Food and Drug Administration (FDA) announcing Access&#8217; intent
      to market MuGard&#8482;. On December 13, 2006, Access announced that it had received
      marketing clearance for MuGard&#8482; from FDA for the indication of the management of
      oral wounds including mucositis, aphthous ulcers and traumatic
      ulcers.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      currently seeking marketing partners to market MuGard&#8482; in the United States and
      in other territories worldwide. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Products
      in Development Status</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>ProLindac&#8482;
      (Polymer Platinate, AP5346) DACH Platinum</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Chemotherapy,
      surgery and radiation are the major components in the clinical management of
      cancer patients. Chemotherapy serves as the primary therapy for some solid
      tumors and metastases and is increasingly used as an adjunct to radiation and
      surgery to improve their effectiveness. For chemotherapeutic agents to be
      effective in treating cancer patients, however, the agent must reach the target
      cells in effective quantities with minimal toxicity in normal
      tissues.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      current optimal strategy for chemotherapy involves exposing patients to the
      most
      intensive cytotoxic regimens they can tolerate and clinicians attempt to design
      a combination of chemotherapeutic drugs, a dosing schedule and a method of
      administration to increase the probability that cancerous cells will be
      destroyed while minimizing the harm to healthy cells. Notwithstanding
      clinicians&#8217; efforts, most current chemotherapeutic drugs have significant
      shortcomings that limit the efficacy of chemotherapy. For example, certain
      cancers are inherently unresponsive to chemotherapeutic agents. Alternatively,
      other cancers may initially respond, but subgroups of cancer cells acquire
      resistance to the drug during the course of therapy and the resistant cells
      may
      survive and cause a relapse. Serious toxicity, including bone marrow
      suppression, renal toxicity, neuropathy, or irreversible cardiotoxicity, are
      some of the limitations of current anti-cancer drugs that can prevent their
      administration in curative doses.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Oxaliplatin,
      a formulation of DACH platinum, is a chemotherapeutic which was initially
      approved in France and in Europe in 1999 for the treatment of colorectal cancer.
      It is now also being marketed in the United States and is generating worldwide
      sales in excess of $2 billion annually. Carboplatin and Cisplatin, two other
      approved platinum chemotherapy drugs, are not indicated for the treatment of
      metastatic colorectal cancer. Oxaliplatin, in combination with 5-flurouracil
      and
      folinic acid (known as the FOLFOX regime) is indicated for the first-line
      treatment of metastatic colorectal cancer in Europe and the U.S. The colorectal
      cancer market is a significant opportunity as there are over 940,000 reported
      new cases annually worldwide, increasing at a rate of approximately three
      percent per year, and 500,000 deaths.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Currently,
      platinum compounds are one of the largest selling categories of chemotherapeutic
      agents, with annual sales in excess of $3.0 billion. As is the case with all
      chemotherapeutic drugs, the use of such compounds is associated with serious
      systemic side effects. The drug development goal therefore is to enhance
      delivery of the active drug to the tumor and minimize the amount of active
      drug
      affecting normal organs in the body.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">71</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Utilizing
      a biocompatible water-soluble polymer HPMA as a drug carrier, Access&#8217; drug
      candidate ProLindac&#8482;, links DACH platinum to a polymer in a manner which permits
      the selective release of active drug to the tumor by several mechanisms,
      including taking advantage of the differential pH in tumor tissue compared
      to
      healthy tissue. The polymer also capitalizes on the biological differences
      in
      the permeability of blood vessels at tumor sites versus normal tissue. In this
      way, tumor selective delivery and platinum release is achieved. The ability
      of
      ProLindac&#8482; to inhibit tumor growth has been evaluated in more than ten
      preclinical models. Compared with the marketed product oxaliplatin, ProLindac&#8482;
showed either marked superiority or superiority in most of these models.
      Preclinical studies of the delivery of platinum to tumors in an animal model
      have shown that, compared with oxaliplatin at equitoxic doses, ProLindac&#8482;
delivers in excess of 16 times more platinum to the tumor. An analysis of tumor
      DNA, which is the main target for anti-cancer platinum agents, has shown that
      ProLindac&#8482;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>&#160;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">delivers
      approximately 14 times more platinum to tumor DNA than oxaliplatin. Results
      from
      preclinical efficacy studies conducted in the B16 and other tumor models have
      also shown that ProLindac&#8482; is superior to oxaliplatin in inhibiting the growth
      of tumors. An extensive preclinical package has been developed supporting the
      development of ProLindac&#8482;.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      2005
      Access completed a Phase I multi-center clinical study conducted in Europe,
      which enrolled 26 patients. The study was reported at the AACR-NCI-EORTC
      conference in Philadelphia in November 2005.&#160; The European trial was
      designed to identify the maximum tolerated dose, dose limiting toxicities,
      the
      pharmacokinetics of the platinum in plasma and the possible anti-tumor activity
      of ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      The
      open-label, non-randomized, dose-escalation Phase I study was performed at
      two
      European centers. ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      was
      administered as an intravenous infusion over one hour, once a week on days
      1, 8
      and 15 of each 28-day cycle to patients with solid progressive tumors. Access
      obtained results in 26 patients with a broad cross-section of tumor types,
      with
      doses ranging from 80-1,280 mg Pt/m</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>2</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Of
      the 26
      patients, 10 were not evaluable for tumor response, principally due to
      withdrawal from the study prior to completing the required cycle. Of the 16
      evaluable patients, 2 demonstrated a partial response, 1 experienced a partial
      response based on a biomarker and 4 experienced stable disease. One of the
      patients who attained a partial response had a melanoma with lung metastasis;
      a
      CT scan revealed a tumor decrease of greater than 50%. The other patient who
      responded had ovarian cancer; she had a reduction in lymph node metastasis
      and
      remission of a liver metastasis. The patient who experienced a partial response
      based on a biomarker was an ovarian cancer patient for whom CA-125 levels
      returned to normal. Also of note, a patient with cisplatin resistant cervical
      cancer showed a short lasting significant reduction in lung metastasis after
      3
      doses. However, due to toxicity, the patient could not be retreated to determine
      whether the partial response could be maintained.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has commenced a European Phase II ProLindac&#8482; trial in ovarian cancer patients
      who have relapsed after first line platinum therapy. The primary aim of the
      study is to the determine the response rate of ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      monotherapy in this patient population. The response rates for other platinum
      compounds in this indication are well known, and will be used for comparison.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has provided ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      to the
      Moores Cancer Center at the University of California, San Diego to conduct
      a
      Phase II clinical study in patients with head and neck cancer under a
      physician-sponsored IND. The primary aim of the study is to demonstrate the
      ability of the tumor-targeting polymer system to deliver more platinum to tumors
      than can be attained with oxaliplatin, the approved DACH platinum compound.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has submitted an IND application to the US Food and Drug Administration, and
      has
      received clearance from the agency to proceed with a Phase I clinical study
      of
      ProLindac in combination with fluorouracil and leucovorin. The study is designed
      to evaluate the safety of the ProLindac in combination with two standard drugs
      used to treat colorectal cancer and to establish a safe dose for Phase II
      clinical studies of this combination in colorectal cancer. Access is currently
      evaluating whether clinical development of ProLindac in this indication might
      proceed more rapidly by utilizing an alternative clinical strategy and/or
      conducting studies in the US and/or elsewhere in the world.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Research
      Projects, Products and Products in Development</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Drug
      Development Strategy</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      part of
      Access&#8217; integrated drug development strategy is to form alliances with centers
      of excellence in order to obtain alternative lead compounds while minimizing
      the
      overall cost of research. Access does not spend significant resources on
      fundamental biological research but rather focuses on its chemistry expertise
      and clinical development. For example, certain of Access&#8217; polymer platinate
      technology has resulted in part from a research collaboration with The School
      of
      Pharmacy, University of London.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
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        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      strategy is to focus on its polymer therapeutic program for the treatment of
      cancer while continuing to develop technologies such as MuGard&#8482; and
      Cobalamin-mediated oral drug delivery which could provide it with a revenue
      stream in the short term through commercialization or outlicensing to fund
      its
      longer-term polymer development program. To reduce financial risk and equity
      financing requirements, Access is directing its resources to the preclinical
      and
      early clinical phases of development. Where the size of the necessary clinical
      studies and cost associated with the later clinical development phases are
      significant, Access plans to co-develop with or to outlicense to marketing
      partners its therapeutic product candidates. By forming strategic alliances
      with
      pharmaceutical and/or biotech companies, Access believes that its technology
      can
      be more rapidly developed and successfully introduced into the
      marketplace.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      will continue to evaluate the most cost-effective methods to advance its
      programs. Access will contract certain research and development, manufacturing
      and manufacturing scaleup, certain preclinical testing and product production
      to
      research organizations, contract manufacturers and strategic partners. As
      appropriate to achieve cost savings and accelerate its development programs,
      Access will expand its internal core capabilities and infrastructure in the
      areas of chemistry, formulation, analytical methods development, clinical
      development, biology and project management to maximize product opportunities
      in
      a timely manner. &#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Process</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      began the product development effort by screening and formulating potential
      product candidates, selecting an optimal active component, developing a
      formulation, and developing the processes and analytical methods. Pilot
      stability, toxicity and efficacy testing are conducted prior to advancing the
      product candidate into formal preclinical development.&#160; Specialized skills
      are required to produce these product candidates utilizing its technology.
      Access has a limited core internal development capability with significant
      experience in developing these formulations, but also depend upon the skills
      and
      expertise of its contractors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Once
      the
      product candidate has been successfully screened in pilot testing, Access&#8217;
scientists, together with external consultants, assist in designing and
      performing the necessary preclinical efficacy, pharmacokinetic and toxicology
      studies required for IND submission. External investigators and scaleup
      manufacturing facilities are selected in conjunction with its consultants.
      The
      initial Phase I and Phase II studies are conducted by institutions and
      investigators supervised and monitored by Access&#8217; employees and contract
      research organizations. Access does not plan to have an extensive clinical
      development organization as Access plans to have the advance phases of this
      process conducted by a development partner. Should Access conduct Phase III
      clinical studies Access expects to engage a contract research organization
      to
      perform this work.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      contracts with third party contract research organizations to complete its
      large
      clinical trials and for data management of all of its clinical trials.
      Generally, Access manages the smaller Phase I and II trials ourselves.
      Currently, Access has one Phase II trial in process and two Phase II trials
      planned for this year subject to preliminary findings in other trials and
      Access&#8217; ability to fund such trials.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">With
      all
      of Access&#8217; product development candidates, Access cannot assure you that the
      results of the in vitro or animal studies are or will be indicative of the
      results that will be obtained if and when these product candidates are tested
      in
      humans. Access cannot assure you that any of these projects will be successfully
      completed or that regulatory approval of any product will be
      obtained.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      expended approximately $2,053,000, $2,783,000 and $2,335,000 on research and
      development during the years 2006, 2005 and 2004, respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Scientific
      Background</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      ultimate criteria for effective drug delivery is to control and optimize the
      localized release of the drug at the target site and rapidly clear the
      non-targeted fraction. Conventional drug delivery systems such as controlled
      release, sustained release, transdermal systems and others are designed for
      delivering active product into the systemic circulation over time with the
      objective of improving patient compliance. These systems do not address the
      biologically relevant issues such as site targeting, localized release and
      clearance of drug. The major factors that impact the achievement of this
      ultimate drug delivery goal are the physical characteristics of the drug and
      the
      biological characteristics of the disease target sites. The physical
      characteristics of the drug affect solubility in biological systems, its
      biodistribution throughout the body, and its interactions with the intended
      pharmacological target sites and undesired areas of toxicity. The biological
      characteristics of the diseased area impact the ability of the drug to
      selectively interact with the intended target site to allow the drug to express
      the desired pharmacological activity.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      </div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      believes its drug delivery technologies are differentiated from conventional
      drug delivery systems in that they seek to apply a disease-specific approach
      to
      improve the drug delivery process with formulations to significantly enhance
      the
      therapeutic efficacy and reduce toxicity of a broad spectrum of
      products.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Core
      Drug Delivery Technology Platforms</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      current drug delivery technology platforms for use in cancer chemotherapy
      are:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Synthetic Polymer Targeted Drug Delivery Technology;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cobalamin-Mediated Oral Delivery Technology; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cobalamin-Mediated Targeted Delivery Technology.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Each
      of these platforms is discussed below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Synthetic
      Polymer Targeted Drug Delivery Technology</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      collaboration with The School of Pharmacy, University of London, Access
      developed a synthetic polymer technology, which utilizes
      hydroxypropylmethacrylamide with platinum, designed to exploit enhanced
      permeability and retention, or EPR, at tumor sites to selectively accumulate
      drug and control drug release. This technology is employed in Access&#8217; lead
      clinical program, ProLindac&#8482;. Many solid tumors possess vasculature that is
      hyperpermeable, or leaky, to macromolecules. In addition to this enhanced
      permeability, tumors usually lack effective lymphatic and/or capillary drainage.
      Consequently, tumors selectively accumulate circulating macromolecules,
      including, for example, up to 10% of an intravenous dose in mice. This effect
      has been termed EPR, and is thought to constitute the mechanism of action of
      styrene-maleic/anhydride-neocarzinostatin, or SMANCS, which is in regular
      clinical use in Japan for the treatment of hepatoma. These polymers take
      advantage of endothelial permeability as the drug carrying polymers are trapped
      in tumors and then taken up by tumor cells. Linkages between the polymer and
      drug can be designed to be cleaved extracellularly or intracellularly. Utilizing
      the principles of prodrugs, the drug is essentially inert while attached to
      the
      polymer, but is released inside the tumor mass while polymer/drug not delivered
      to tumors is renally cleared from the body. For example, ProLindac is attached
      to a pH-sensitive linker which releases the platinum cytotoxic agent much faster
      in the low pH environments found typically outside of tumor cells and within
      specific compartments inside of tumor cells. Data generated in animal studies
      have shown that the polymer/drug complexes are far less toxic than free drug
      alone and that greater efficacy can be achieved. Thus, these polymer complexes
      have demonstrated significant improvement in the therapeutic index of
      anti-cancer drugs, including, for example, platinum.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cobalamin-Mediated
      Oral Delivery Technology</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Oral
      delivery is the preferred method of administration of drugs where either
      long-term or daily use (or both) is required. However many therapeutics,
      including peptide and protein drugs, are poorly absorbed when given orally.
      With
      more and more peptide and protein based biopharmaceuticals entering the market,
      there is an increasing need to develop an effective oral delivery system for
      them, as well as for long-standing injected drugs such as insulin.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      difficulty in administering proteins orally is their susceptibility to
      degradation by digestive enzymes, their inability to cross the intestinal wall
      and their rapid excretion by the body. Over the years, many different
      methodologies for making protein drugs available orally have been attempted.
      Most of the oral protein delivery technologies involve protecting the protein
      degradation in the intestine. More recently, strategies have been developed
      that
      involve attaching the protein or peptide to a molecule that transports the
      protein across the gut wall. However, the field of oral drug delivery of
      proteins and peptides has yet to achieve successful commercialization of a
      product (although positive results have been achieved in early clinical trials
      for some products under development).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Many
      pharmaceutically active compounds such as proteins, peptides and cytotoxic
      agents cannot be administered orally due to their instability in the
      gastrointestinal tract or their inability to be absorbed and transferred to
      the
      bloodstream. A technology that would allow many of these actives to be taken
      orally would greatly enhance their acceptance and value. Several technologies
      for the protection of sensitive actives in the gastro-intestinal tract and/or
      enhancement of gastro-intestinal absorption have been explored and many have
      failed.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      proprietary technology for oral drug delivery utilizes the body&#8217;s natural
      vitamin B12 (VB12) transport system in the gut. The absorption of VB12 in the
      intestine occurs by way of a receptor-mediated endocytosis. Initially, VB12
      binds to intrinsic factor (IF) in the small intestine, and the VB12-IF complex
      then binds to the IF receptor on the surface of the intestine. Receptor-mediated
      endocytosis then allows the transport of VB12 across the gut wall. After binding
      to another VB12-binding protein, transcobalamin II (TcII), VB12 is transferred
      to the bloodstream.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      scientists discovered that Cobalamin (analogs of VB12) will still be transported
      by this process even when drugs, macromolecules, or nanoparticles are coupled
      to
      the Cobalamin.&#160;Thus Cobalamin serves as a carrier to transfer these
      materials from the intestinal lumen to the bloodstream. For drugs and
      macromolecules that are stable in the gastro-intestinal tract, the drug or
      macromolecule can be coupled directly (or via a linker) to Cobalamin. If the
      capacity of the Cobalamin transport system is inadequate to provide an effective
      blood concentration of the active, transport can be amplified by attaching
      many
      molecules of the drug to a polymer, to that Cobalamin is also attached. A
      further option, especially for drugs and macromolecules that are unstable in
      the
      intestine, is to formulate the drug in a nanoparticle which is then coated
      with
      Cobalamin. Once in the bloodstream, the active is released by diffusion and/or
      erosion of the nanoparticle. Utilization of nanoparticles also serves to
&#8216;amplify&#8217; delivery by transporting many molecules at one time due to the
      inherently large nanoparticle volume compared with the size of the
      drug.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      proprietary position in this technology involves the conjugation of Cobalamin
      and/or folic acid and/or biotin (or their analogs) to a polymer to which is
      also
      attached the drug to be delivered, or attached to a nanoparticle in which the
      drug is incorporated. Since many molecules of the drug are attached to a single
      polymer strand, or are incorporated in a single nanoparticle, disease targeting
      is amplified compared to simpler conjugates involving one molecule of the
      vitamin with one drug molecule. However, in situations when such a simple
      conjugate might be preferred, its patents also encompass these Cobalamin-drug
      conjugates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cobalamin-Mediated
      Targeted Delivery Technology</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Most
      drugs are effective only when they reach a certain minimum concentration in
      the
      region of disease, yet are well distributed throughout the body contributing
      to
      undesirable side effects. It is therefore advantageous to alter the natural
      biodistribution of a drug to have it more localized where it is needed. Access&#8217;
Cobalamin-mediated targeted delivery technology utilizes the fact that in many
      diseases where there is rapid growth and/or cell division, the demand for
      certain vitamins increases. By coupling the drug to a vitamin analog, the analog
      serves as a carrier to increase the amount of drug at the disease site relative
      to its normal distribution.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">One
      application of this technology is in tumor targeting. The use of cytotoxic
      drugs
      is one of the most common methods for treating a variety of malignancies
      including solid and non-solid tumors. The drawbacks of chemotherapeutic
      treatments, which include tumor resistance, cancer relapse and toxicity from
      severe damage to healthy tissues, has fuelled a scientific quest for novel
      treatments that are specifically targeted to malignant cells thus reducing
      damage to collateral tissues.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      design of targeted therapies involves exploitation of the difference between
      the
      structure and function of normal cells compared with malignant cells.
      Differences include the increased levels of surface molecules on cancer cells,
      which makes them more sensitive to treatment regimes that target surface
      molecules and differences in blood supply within and around tumor cells compared
      with normal cells.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Two
      basic
      types of targeting approaches are utilized, passive tumor targeting and active
      tumor targeting.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 9pt">
            </td>
            <td align="left" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">passive
                tumor targeting involves transporting anti-cancer agents through
                the
                bloodstream to tumor cells using a &#8220;carrier&#8221; molecule. Many different
                carrier molecules, which can take a variety of forms (micelles,
                nanoparticles, liposomes and polymers), are being investigated as
                each
                provides advantages such as specificity and protection of the anti-cancer
                drug from degradation due to their structure, size (molecular weights)
                and
                particular interactions with tumor cells. Access&#8217; polymer platinate
                program is a passive tumor targeting
                technology.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 9pt">
            </td>
            <td align="left" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">active
                tumor targeting involves attaching an additional fragment to the
                anticancer drug and the carrier molecule to create a new &#8220;targeted&#8221; agent
                that will actively seek a complementary surface molecule to which
                it binds
                (preferentially located on the exterior of the tumor cells). The
                theory is
                that the targeting of the anti-cancer agent through active means
                to the
                affected cells should allow more of the anti-cancer drug to enter
                the
                tumor cell, thus amplifying the response to the treatment and reducing
                the
                toxic effect on bystander, normal
                tissue.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">75</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Examples
      of active targeting fragments include antibodies, growth factors and vitamins.
      Access&#8217; scientists have specifically focused on using Cobalamin compounds
      (analogs of vitamin B12), but Access has also used and has certain intellectual
      property protection for the use of folate and biotin which may more effectively
      target anti-cancer drugs to solid tumors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">It
      has
      been known for some time that vitamin B12 and folic acid are essential for
      tumor
      growth and as a result, receptors for these vitamins are up-regulated in certain
      tumors. Vitamin B12 receptor over-expression occurs in breast, lung, leukemic
      cells, lymphoma cells, bone, thyroid, colon, prostate and brain cancers and
      some
      other tumor lines, while folate receptor over-expression occurs in breast,
      lung,
      ovarian, endometrial, renal, colon, brain and cancers of myeloid hemotopoietic
      cells and methotrexate-sensitive tumors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Patents</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      believes that the value of technology both to it and to its potential corporate
      partners is established and enhanced by its broad intellectual property
      positions. Consequently, Access has already been issued and seeks to obtain
      additional U.S. and foreign patent protection for products under development
      and
      for new discoveries. Patent applications are filed with the U.S. Patent and
      Trademark Office and, when appropriate, with the Paris Convention's Patent
      Cooperation Treaty (PCT) Countries (most major countries in Western Europe
      and
      the Far East) for its inventions and prospective products.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">One
      U.S.
      patent has issued and one U.S. patent application and two European patent
      applications are under review for its mucoadhesive liquid technology. Access&#8217;
patent applications cover a</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      range of
      products utilizing its mucoadhesive liquid technology for the management of
      the
      various phases of mucositis. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -3.6pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Three
      U.S. patents and two European patents have issued and one U.S. patent and two
      European patent applications are pending for polymer platinum compounds. The
      two
      patents and patent applications are the result in part of Access&#8217; collaboration
      with The School of Pharmacy, University of London, from which the technology
      has
      been licensed and include a synthetic polymer, hydroxypropylmethacrylamide
      incorporating platinates, that can be used to exploit enhanced permeability
      and
      retention in tumors and control drug release. The patents and patent
      applications include a pharmaceutical composition for use in tumor treatment
      comprising a polymer-platinum compound through linkages that are designed to
      be
      cleaved under selected conditions to yield a platinum which is selectively
      released at a tumor site. The patents and patent applications also include
      methods for improving the pharmaceutical properties of platinum compounds.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">three
      patented Cobalamin-mediated targeted therapeutic technologies:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -3.6pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">-&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">folate
                conjugates of polymer therapeutics, to enhance tumor delivery by
                targeting
                folate receptors, which are upregulated in certain tumor types with
                two
                U.S. and two European patent
                applications;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">-&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                use of vitamin B12 to target the transcobalamin II receptor which
                is
                upregulated in numerous diseases including cancer, rheumatoid arthritis,
                certain neurological and autoimmune disorders with two U.S. patents
                and
                three U.S. and four European patent applications;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">-&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">oral
                delivery of a wide variety of molecules which cannot otherwise be
                orally
                administered, utilizing the active transport mechanism which transports
                vitamin B12 into the systemic circulation with six U.S. patents and
                two
                European patents and one U.S. and one European patent
                application.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      patents for the following technologies expire in the years and during the date
      ranges indicated below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mucoadhesive
                technology in 2021,</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">ProLindac&#8482;
                in 2021,</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin
                mediated technology between 2007 and
                2019</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition to issued patents, Access has a number of pending patent applications.
      If issued, the patents underlying theses applications could extend the patent
      life of its technologies beyond the dates listed above.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has a strategy of maintaining an ongoing line of patent continuation
      applications for each major category of patentable carrier and delivery
      technology. By this approach, Access is extending the intellectual property
      protection of its basic targeting technology and initial agents to cover
      additional specific carriers and agents, some of which are anticipated to carry
      the priority dates of the original applications.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Government
      Regulation</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      subject to extensive regulation by the federal government, principally by the
      FDA, and, to a lesser extent, by other federal and state agencies as well as
      comparable agencies in foreign countries where registration of products will
      be
      pursued. Although a number of Access&#8217; formulations incorporate extensively
      tested drug substances, because the resulting formulations make claims of
      enhanced efficacy and/or improved side effect profiles, they are expected to
      be
      classified as new drugs by the FDA.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">76</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Federal Food, Drug and Cosmetic Act and other federal, state and foreign
      statutes and regulations govern the testing, manufacturing, safety, labeling,
      storage, shipping and record keeping of Access&#8217; products. The FDA has the
      authority to approve or not approve new drug applications and inspect research,
      clinical and manufacturing records and facilities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Among
      the
      requirements for drug approval and testing is that the prospective
      manufacturer's facilities and methods conform to the FDA's Code of Good
      Manufacturing Practices regulations, which establish the minimum requirements
      for methods to be used in, and the facilities or controls to be used during,
      the
      production process. Such facilities are subject to ongoing FDA inspection to
      insure compliance.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      steps
      required before a pharmaceutical product may be produced and marketed in the
      U.S. include preclinical tests, the filing of an IND with the FDA, which must
      become effective pursuant to FDA regulations before human clinical trials may
      commence, numerous phases of clinical testing and the FDA approval of a New
      Drug
      Application (&#8220;NDA&#8221;) prior to commercial sale.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Preclinical
      tests are conducted in the laboratory, usually involving animals, to evaluate
      the safety and efficacy of the potential product. The results of preclinical
      tests are submitted as part of the IND application and are fully reviewed by
      the
      FDA prior to granting the sponsor permission to commence clinical trials in
      humans. All trials are conducted under International Conference on
      Harmonization, or ICH, good clinical practice guidelines. All investigator
      sites
      and sponsor facilities are subject to FDA inspection to insure compliance.
      Clinical trials typically involve a three-phase process. Phase I, the initial
      clinical evaluations, consists of administering the drug and testing for safety
      and tolerated dosages and in some indications such as cancer and HIV, as
      preliminary evidence of efficacy in humans. Phase II involves a study to
      evaluate the effectiveness of the drug for a particular indication and to
      determine optimal dosage and dose interval and to identify possible adverse
      side
      effects and risks in a larger patient group. When a product is found safe,
      an
      initial efficacy is established in Phase II, it is then evaluated in Phase
      III
      clinical trials. Phase III trials consist of expanded multi-location testing
      for
      efficacy and safety to evaluate the overall benefit to risk index of the
      investigational drug in relationship to the disease treated. The results of
      preclinical and human clinical testing are submitted to the FDA in the form
      of
      an NDA for approval to commence commercial sales.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      process of forming the requisite testing, data collection, analysis and
      compilation of an IND and an NDA is labor intensive and costly and may take
      a
      protracted time period. In some cases, tests may have to be redone or new tests
      instituted to comply with FDA requests. Review by the FDA may also take
      considerable time and there is no guarantee that an NDA will be approved.
      Therefore, Access cannot estimate with any certainty the length of the approval
      cycle.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      also governed by other federal, state and local laws of general applicability,
      such as laws regulating working conditions, employment practices, as well as
      environmental protection.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Competition</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      pharmaceutical and biotechnology industry is characterized by intense
      competition, rapid product development and technological change. Competition
      is
      intense among manufacturers of prescription pharmaceuticals and other product
      areas where Access may develop and market products in the future. Most of
      Access&#8217; potential competitors are large, well established pharmaceutical,
      chemical or healthcare companies with considerably greater financial, marketing,
      sales and technical resources than are available to Access. Additionally, many
      of Access&#8217; potential competitors have research and development capabilities that
      may allow such competitors to develop new or improved products that may compete
      with Access&#8217; product lines. Access&#8217; potential products could be rendered
      obsolete or made uneconomical by the development of new products to treat the
      conditions to be addressed by its developments, technological advances affecting
      the cost of production, or marketing or pricing actions by one or more of
      Access&#8217; potential competitors. Access&#8217; business, financial condition and results
      of operation could be materially adversely affected by any one or more of such
      developments. Access cannot assure you that Access will be able to compete
      successfully against current or future competitors or that competition will
      not
      have a material adverse effect on Access&#8217; business, financial condition and
      results of operations. Academic institutions, governmental agencies and other
      public and private research organizations are also conducting research
      activities and seeking patent protection and may commercialize products on
      their
      own or with the assistance of major health care companies in areas where Access
      is developing product candidates. Access is aware of certain development
      projects for products to treat or prevent certain diseases targeted by it,
      the
      existence of these potential products or other products or treatments of which
      Access is not aware, or products or treatments that may be developed in the
      future, may adversely affect the marketability of products developed by
      Access.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      principal competitors in the polymer area are Cell Therapeutics, Daiichi, Enzon,
      Polytherics Ltd, and Inhale which are developing alternate drugs in combination
      with polymers. Access believes it is the only company conducting clinical
      studies in the polymer drug delivery of platinum compounds. Access believes
      that
      the principal current competitors to its polymer targeting technology fall
      into
      two categories: monoclonal antibodies and liposomes. Access believes that its
      technology potentially represents a significant advance over these older
      technologies because its technology provides a system with a favorable
      pharmacokinetic profile.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      number
      of companies are developing or may in the future engage in the development
      of
      products competitive with the Access polymer delivery system. Several companies
      are working on targeted monoclonal antibody therapy including Bristol-Myers
      Squibb, Centocor (acquired by Johnson &amp; Johnson), GlaxoSmithKline, Imclone
      and Xoma. Currently, liposomal formulations being developed by Gilead Sciences
      and Alza Corporation (acquired by Johnson &amp; Johnson), are the major
      competing intravenous drug delivery formulations that deliver similar drug
      substances. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      area of advanced drug delivery, which is the focus of Access&#8217; early stage
      research and development activities, a number of companies are developing or
      evaluating enhanced drug delivery systems. Access expects that technological
      developments will occur at a rapid rate and that competition is likely to
      intensify as various alternative delivery system technologies achieve similar
      if
      not identical advantages.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Even
      if
      Access&#8217; products are fully developed and receive required regulatory approval,
      of which there can be no assurance, Access believes that its products can only
      compete successfully if marketed by a company having expertise and a strong
      presence in the therapeutic area. Consequently, Access does not currently plan
      to establish an internal marketing organization. By forming strategic alliances
      with major and regional pharmaceutical companies, management believes that
      its
      development risks should be minimized and that the technology potentially could
      be more rapidly developed and successfully introduced into the
      marketplace.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Other
      Key Developments</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      April
      26, 2007, Access Pharmaceuticals, Inc. (&#8220;Access&#8221;) and SCO Capital Partners LLC
      and affiliates (&#8220;SCO&#8221;) agreed to extend the maturity date of an aggregate of
      $6,000,000 of 7.5% convertible notes to June 11, 2007 from April 27, 2007.
      On
      April 24, 2007, Access and Oracle Partners LP and affiliates agreed to extend
      the maturity date of an aggregate of $4,015,000 of 7.7% convertible notes to
      June 12, 2007 from April 28, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      April
      19, 2007 Access announced it had entered into an agreement to acquire Somanta
      Pharmaceuticals, Inc. Pursuant to the terms of merger agreement, upon
      consummation of the acquisition, Somanta&#8217;s preferred and common stockholders
      would receive an aggregate of 1.5 million shares of Access&#8217; common shares which
      would represent approximately 13% of the combined company assuming the
      conversion of Access&#8217; existing convertible debt under existing terms of
      conversion. The closing of the transaction is subject to numerous conditions
      including receipt of necessary approvals including approval of the Somanta
      stockholders. There can be no assurance that the transaction will be consummated
      or if consummated, that it will be on the terms described herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has upcoming maturity dates on its convertible notes. The </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">$6
      million of Senior Convertible notes are due June 11, 2007 plus accrued interest;
      and the approximately </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$4.0
      million of convertible notes which are due June 12, 2007 including interest;
      and
      capitalized interest of $880,000. Access is currently negotiating with the
      debt
      holders to convert their debt to equity or to extend the terms of their due
      dates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      shares and per share information reflect a one for five reverse stock split
      effected June 5, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December 8, 2006 Access amended its 2005 Asset Sale Agreement with Uluru, Inc.
      Access received from Uluru an upfront payment of $4.9 million, received an
      additional $350,000 on April 9, 2007 and in the future could receive potential
      milestones of up to $4.8 million based on Uluru sales. The amendment agreement
      included the anniversary payment due October 12, 2006, the early payment of
      the
      two year anniversary payment, and a payment in satisfaction of certain future
      milestones. Access also transferred to Uluru certain patent applications that
      Access had previously licensed to Uluru under the 2005 License Agreement. Under
      a new agreement, Access has acquired a license from Uluru to utilize the
      nanoparticle aggregate technology contained in the transferred patent
      applications for subcutaneous, intramuscular, intra-peritoneal and intra-tumoral
      drug delivery. Additionally, one future milestone was increased by
      $125,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December 6, 2006, Access entered into a note and warrant purchase agreement
      pursuant to which Access sold and issued an aggregate of $500,000 of 7.5%
      convertible notes due June 11, 2007 and warrants to purchase 386,364 shares
      of
      common stock of Access. Net proceeds to Access were $450,000. The notes and
      warrants were sold in a private placement to a group of accredited investors
      led
      by SCO Capital Partners LLC (&#8220;SCO&#8221;) and affiliates. Each noteholder received a
      warrant to purchase a number of shares of common stock of Access equal to 75%
      of
      the total number shares of Access common stock into which such holder&#8217;s note is
      convertible.&#160; Each warrant has an exercise price of $1.32 per share and is
      exercisable at any time prior to December 6, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October 24, 2006, Access entered into a note and warrant purchase agreement
      pursuant to which Access sold and issued an aggregate of $500,000 of 7.5%
      convertible notes due June 11, 2007 and warrants to purchase 386,364 shares
      of
      common stock of Access. Net proceeds to Access were $450,000. The notes and
      warrants were sold in a private placement to a group of accredited investors
      led
      by SCO and affiliates. Each noteholder received a warrant to purchase a number
      of shares of common stock of Access equal to 75% of the total number shares
      of
      Access common stock into which such holder&#8217;s note is convertible.&#160; Each
      warrant has an exercise price of $1.32 per share and is exercisable at any
      time
      prior to October 24, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 16, 2006, Access entered into a note and warrant purchase agreement
      pursuant to which Access sold and issued an aggregate of $5,000,000 of 7.5%
      convertible notes due June 11, 2007 and warrants to purchase an aggregate of
      3,863,634 shares of common stock of Access. Net proceeds to Access were $4.5
      million. The notes and warrants were sold in a private placement to a group
      of
      accredited investors led by SCO and affiliates. Each noteholder received a
      warrant to purchase a number of shares of common stock of Access equal to 75%
      of
      the total number shares of Access common stock into which such holder&#8217;s note is
      convertible.&#160; Each warrant has an exercise price of $1.32 per share and is
      exercisable at any time prior to February 16, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      the
      secured notes mature on June 11, 2007, are convertible into Access common stock
      at a fixed conversion rate of $1.10 per share, bear interest of 7.5% per annum
      and are secured by substantially all of the assets of Access. Each note may
      be
      converted at the option of the noteholder or Access under certain circumstances
      as set forth in the notes.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;In
      the event SCO and its affiliates were to convert all of their notes and exercise
      all of their warrants, they would own approximately 74.1% of the voting
      securities of Access. Access may be required to pay in cash, up to 2% per month,
      as defined, as liquidated damages for failure to file a registration statement
      timely as required by an investor rights agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with the sale and issuance of notes and warrants, Access entered
      into
      an investors rights agreement whereby it granted SCO the right to designate
      two
      individuals to serve on the Board of Directors of Access while the notes are
      outstanding, and also granted registration rights with respect to the shares
      of
      common stock of Access underlying the notes and warrants. SCO designated Jeffrey
      B. Davis and Mark J. Alvino to the Board of Directors, and on March 13, 2006
      Messrs, Davis and Alvino were appointed to the Board of Directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October 12, 2005, Access sold its oral/topical care business unit to Uluru,
      Inc,
      a private Delaware corporation, for up to $18.8 million to focus on Access&#8217;
technologies in oncology and oral drug delivery. The products and technologies
      sold to Uluru included amlexanox 5% paste (marketed under the trade names
      Aphthasol&#174; and Aptheal&#174;), OraDisc</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      Zindaclin&#174; and Residerm&#174; and all of Access&#8217; assets related to these products. In
      addition, Access sold to Uluru its nanoparticle hydrogel aggregate technology
      which could be used for applications such as local drug delivery and tissue
      filler in dental and soft tissue applications. Access received a license from
      Uluru for certain applications of the technology. The CEO of Uluru is Kerry
      P.
      Gray, the former CEO of Access. In conjunction with the sale transaction, Access
      received a fairness opinion from a nationally recognized investment banking
      firm.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      the
      closing of the agreement Access received $8.7 million. In addition, due to
      the
      Amended Asset Sale Agreement in December 2006, Access received $4.9 million
      and
      received an additional $350,000 on April 9, 2007 for the first and second
      anniversary payments and settlement of certain milestones. Access recorded
      $550,000 less $173,000 tax expense as income from the discontinued operations
      in
      2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      was incorporated in Wyoming in 1974 as Chemex Corporation, and in 1983 Access
      changed its name to Chemex Pharmaceuticals, Inc. Access changed its state of
      incorporation from Wyoming to Delaware on June 30, 1989. In 1996 Access merged
      with Access Pharmaceuticals, Inc., a private Texas corporation, and changed
      its
      name to Access Pharmaceuticals, Inc. Access&#8217; principal executive office is
      located at 2600 Stemmons Freeway, Suite 176, Dallas, Texas 75207; Access&#8217;
telephone number is (214) 905-5100.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Employees</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      of
      April 30, 2007, Access had nine full time employees, four of whom have advanced
      scientific degrees. Access has never experienced employment-related work
      stoppages and considers that it maintains good relations with its personnel.
      In
      addition, to complement its internal expertise, Access has contracts with
      scientific consultants, contract research organizations and university research
      laboratories that specialize in various aspects of drug development including
      clinical development, regulatory affairs, toxicology, process scale-up and
      preclinical testing.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Web
      Availability</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      makes available free of charge through its web site, www.accesspharma.com,
      its
      annual reports on Form 10-K and other reports required under the Securities
      and
      Exchange Act of 1934, as amended, as soon as reasonably practicable after such
      reports are filed with, or furnished to, the Securities and Exchange Commission
      (the &#8220;SEC&#8221;). These documents are also available through the SEC&#8217;s website at
      www.sec.gov certain of its corporate governance policies, including the charters
      for the Board of Directors&#8217; audit, compensation and nominating and corporate
      governance committees and its code of ethics, corporate governance guidelines
      and whistleblower policy. Access will provide to any person without charge,
      upon
      request, a copy of any of the foregoing materials. Any such request must be
      made
      in writing to Access Pharmaceuticals, Inc., 2600 Stemmons Freeway, Suite 176,
      Dallas, TX 75207 attn: Investor Relations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="DescriptionProperty"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>DESCRIPTION
      OF PROPERTY</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      maintains one facility of approximately 9,000 square feet for administrative
      offices and laboratories in Dallas, Texas. Access has a lease agreement for
      the
      facility, which terminates in December 2007. Adjacent space may be available
      for
      expansion which Access believes would accommodate growth for the foreseeable
      future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Access
      believes that its existing properties are suitable for the conduct of its
      business and adequate to meet its present needs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>CHANGES
      IN AND DISAGREEMENTS WITH ACCOUNTANTS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ON
      ACCOUNTING AND FINANCIAL DISCLOSURE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Grant
      Thornton LLP ("Grant Thornton") was previously the principal accounts for the
      Access. On September 15, 2006, Grant Thornton resigned as its independent
      registered public accounting firm.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with the audits of fiscal years ended December 31, 2005 and 2004
      and
      the subsequent interim period through September 15, 2006, (i) there have been
      no
      disagreements with Grant Thornton on any matter of accounting principles or
      practices, financial statement disclosure or auditing scope or procedure, which
      disagreement(s), if not resolved to Grant Thornton's satisfaction, would have
      caused Grant Thornton to make reference to the subject matter of the
      disagreement(s) in connection with its reports for such year, and (ii) there
      were no "reportable events" as such term is defined in Item 304(a)(1)(v) of
      Regulation S-K. However, as reported in Access&#8217; Form 10-K for the year ended
      December 31, 2005, Grant Thornton has communicated to Access&#8217; audit committee
      the existence of material weaknesses in its system of internal control over
      financial reporting related to the inadequacy of staffing and a lack of
      segregation of duties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Grant
      Thornton's reports did not contain an adverse opinion or disclaimer of opinion,
      but the 2005 report was modified to include an explanatory paragraph related
      to
      uncertainties about Access&#8217; ability to continue as a going concern.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effective
      September 20, 2006, the Audit Committee of the Board of Directors of Access
      approved the engagement of Whitley Penn LLP (&#8220;Whitley Penn&#8221;) as its independent
      registered public accounting firm to audit the Access&#8217; financial statements for
      the year ended December 31, 2006. On October 2, 2006, Whitley Penn formally
      advised Access that it was accepting the position as Access&#8217; independent
      registered public accounting firm for the year ending December 31,
      2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
      the years ended December 31, 2005 and 2004, and the interim period through
      October 2, 2006, Whitley Penn was not engaged as an independent registered
      public accounting firm to audit either the financial statements of Access or
      any
      of its subsidiaries, nor has Access or anyone acting on its behalf consulted
      with Whitley Penn regarding: (i) the application of accounting principles to
      a
      specified transaction, either completed or proposed, or the type of audit
      opinion that might be rendered on Access&#8217; financial statements; or (ii) any
      matter that was the subject of a disagreement or reportable event as set forth
      in Item 304(a)(2)(ii) of Regulation S-K.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">80</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="DirectorsExecutiveOfficers"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>DIRECTORS
      AND EXECUTIVE OFFICERS</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Directors of Access shall remain the Directors of Access after consummation
      of
      the merger as contemplated in the merger agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table sets forth the Directors, Executive Officers, and Key Employees
      of Access along with their respective ages and positions and is as
      follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="white">
              <td width="33%">&#160;<u>Name </u></td>
              <td width="10%">&#160;<u>Age&#160;</u><font id="TAB2" style="LETTER-SPACING: 9pt;"><u>&#160;</u>&#160;&#160;</font>&#160;</td>
              <td width="50%"><u>&#160;Title</u></td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Jeffrey B. Davis<font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.9pt;">&#160;</font></td>
              <td width="10%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">44</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 10.1pt;">&#160;</font></td>
              <td width="50%">&#160;Chairman of the Board</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Stephen R. Seiler<font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.9pt;">&#160;</font></td>
              <td width="10%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">51</font></td>
              <td width="50%">&#160;President, Chief Executive Officer, Director</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Rosemary Mazanet, M.D., Ph.D.</td>
              <td width="10%">&#160;51</td>
              <td width="50%">&#160;Vice Chairman</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Esteban Cvitkovic<font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.9pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
                M.D.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 8.1pt;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 7.9pt;">&#160;</font></td>
              <td width="10%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">57</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 10.1pt;">&#160;</font></td>
              <td width="50%">&#160;Vice Chairman - Europe</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Mark J. Ahn, Ph.D.</td>
              <td width="10%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">44</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 7.9pt;">&#160;</font></td>
              <td width="50%">&#160;Director</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Mark J. Alvino<font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.9pt;">&#160;</font></td>
              <td width="10%">&#160;39</td>
              <td width="50%">&#160;Director</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Stephen B. Howell, M.D.</td>
              <td width="10%">&#160;62</td>
              <td width="50%">&#160;Director</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;David P. Luci<font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.9pt;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 8.1pt;">&#160;</font></td>
              <td width="10%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">40</font></td>
              <td width="50%">&#160;Director</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;John J. Meakem, Jr.</td>
              <td width="10%">&#160;70<font id="TAB2" style="COLOR: black; LETTER-SPACING: 7.9pt;">&#160;</font></td>
              <td width="50%">&#160;Director</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;David P. Nowotnik, Ph.D.<font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.9pt;">&#160;</font></td>
              <td width="10%">&#160;58</td>
              <td width="50%">&#160;Senior Vice President Research &amp;
                Development</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Phillip S. Wise</td>
              <td width="10%">&#160;48</td>
              <td width="50%">&#160;Vice President, Business Development &amp;
                Strategy</td>
            </tr>
            <tr bgcolor="white">
              <td width="33%">&#160;Stephen B. Thompson<font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.9pt;">&#160;</font></td>
              <td width="10%">&#160;53</td>
              <td width="50%">&#160;Vice President, Chief Financial Officer, Treasurer,
                Secretary</td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">No
      director, officer, affiliate or promoter of Access has, within the past five
      years, filed any bankruptcy petition, been convicted in or been the subject
      of
      any pending criminal proceedings, or is any such person the subject or any
      order, judgment or decree involving the violation of any state or federal
      securities laws.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following is a brief account of the business experience during the past five
      years of each director and executive officer of Access, including principal
      occupations and employment during that period and the name and principal
      business of any corporation or other organization in which such occupation
      and
      employment were carried on.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Mr.
      Jeffrey B. Davis </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">became
      a director in March 2006 as a designee of SCO Capital Partners LLC. Mr. Davis
      is
      Chairman of the Board and a member of the Compensation Committee of the Board.
      Mr. Davis currently serves as President of SCO Financial Group LLC. Prior to
      joining SCO Securities LLC, Mr. Davis served as Senior Vice President and Chief
      Financial Officer of HemaSure, Inc., a publicly traded development stage
      healthcare technology company. Prior to that, Mr. Davis was Vice President,
      Corporate Finance, at Deutsche Morgan Grenfell, both in the U.S. and Europe.
      Mr.
      Davis also served in senior marketing and product management positions at
      AT&amp;T Bell Laboratories, where he was also a member of the technical staff.
      Prior to that, Mr. Davis was involved in marketing and product management at
      Philips Medical Systems North America. Mr. Davis is currently on the board
      of
      MacroChem Corporation, Uluru, Inc. and Virium Pharmaceuticals, Inc., a private
      biotechnology company. Mr. Davis served previously on the board of Bioenvision,
      Inc. Mr. Davis holds a B.S. in biomedical engineering from Boston University
      and
      an M.B.A. degree from the Wharton School, University of Pennsylvania.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Mr.
      Stephen R. Seiler </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">has
      been
      Access&#8217; President and Chief Executive Officer and a Director since January 2007.
      Until recently, Mr. Seiler had been Acting Chief Executive Officer of Effective
      Pharmaceuticals, Inc. and advising other companies in the healthcare field.
      From
      2001 until 2004 he was Chief Executive Officer of Hybridon, Inc. (now Idera
      Pharmaceuticals, Inc.). Mr. Seiler was Executive Vice President, Planning,
      Investment &amp; Development at Elan Corporation plc from 1995 until 2001. He
      also worked as an investment banker at Paribas Capital Markets in both London
      and New York from 1991 to 1995 where he was founder and head of Paribas&#8217;
pharmaceutical investment banking group.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Rosemary
      Mazanet, M.D. </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">serves
      as
      Chief Executive Officer of Breakthrough Therapeutics, LLC, a privately held
      development stage biotechnology company. From May 2005 to January 2007 she
      served as Access&#8217; Acting Chief Executive Officer. From June 1998 to February
      2004, Dr. Mazanet served as Chief Scientific Officer and a General Partner
      of
      Oracle Partners, L.P., a healthcare investment firm. Dr. Mazanet also serves
      as
      an independent director at GTx, Inc (Nasdaq: GTXI), Aksys, Ltd. and is a trustee
      at the University of Pennsylvania, School of Medicine. Prior to joining Oracle,
      Dr. Mazanet was the Director of Clinical Research at Amgen, Inc. She has over
      20
      years experience in the pharmaceutical industry, and was trained as a Medical
      Oncologist/Hematologist in the Harvard Medical System, and holds an M.D. and
      Ph.D. from University of Pennsylvania.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">81</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Dr.
      Esteban Cvitkovic</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      became a
      director in February 2007. Recently, the oncology-focused CRO, Cvitkovic &amp;
Associ&#233;s Consultants (CAC), founded by Dr. Cvitkovic 11 years ago and which he
      developed from a small oncology consultancy to a full-service CRO, was sold
      to
      AAIPharma to become AAIOncology. Dr. Cvitkovic is currently a Senior Medical
      Consultant to AAIOncology. In addition, he maintains a part-time academic
      practice including teaching at the hospitals Beaujon and St Louis in Paris.
      Dr.
      Cvitkovic is Scientific President of the FNAB, a foundation devoted to the
      furthering of personalised cancer treatments. Together with a small number
      of
      collaborators he has recently co-founded Oncoethix, a biotech company focused
      on
      licensing and co-development of anti-cancer molecules. Dr. Cvitkovic has
      authored more than 200 peer-reviewed articles and 600 abstracts focused on
      therapeutic oncology development. His international career includes staff and
      academic appointments at Memorial Sloan Kettering Cancer Center (New York),
      Columbia Presbyterian (New York), Instituto Mario Negri (Milan), Institut
      Gustave Roussy (Villejuif), H&#244;pital Paul Brousse (Villejuif) and H&#244;pital St.
      Louis (Paris). </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Dr.
      Mark J. Ahn</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      became a
      director in September 2006. Dr. Ahn is </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">President
      and Chief Executive Officer and a member of the board of directors of Hana
      Biosciences, Inc. since November 2003. Prior to joining Hana, from December
      2001
      to November 2003, he served as Vice President, Hematology and corporate officer
      at Genentech, Inc. where he was responsible for commercial and clinical
      development of the Hematology franchise. From February 1991 to February 1997
      and
      from February 1997 to December 2001, Dr. Ahn was employed by Amgen and
      Bristol-Myers Squibb Company, respectively, holding a series of positions of
      increasing responsibility in strategy, general management, sales &amp;
marketing, business development, and finance. He has also served as an officer
      in the U.S. Army. Dr. Ahn is a Henry Crown Fellow at the Aspen Institute,
      founder of the Center for Non-Profit Leadership, a director of TransMolecular,
      Inc., a privately held biotechnology company focused on neuroncology, and a
      member of the Board of Trustees for the MEDUNSA (Medical University of South
      Africa) Trust. Dr. Ahn received a B.A. in History and an M.B.A. in Finance
      from
      Chaminade University. He was a graduate fellow in Economics at Essex University,
      and has a Ph.D. in Business Administration from the University of South
      Australia.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Mr.
      Mark J. Alvino </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">became
      a
      director in March 2006 as a designee of SCO Capital Partners LLC. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Mr.
      Alvino currently works as Managing Director for SCO Financial Group LLC. He
      is
      currently on the board of directors of MacroChem Corporation. He previously
      worked at Feinstein Kean Healthcare, an Ogilvy Public Relations Worldwide
      Company. There he was Senior Vice President, responsible for managing both
      investor and corporate communications programs for many private and public
      companies and acted as senior counsel throughout the agency's network of
      offices. Prior to working at FKH, Mr. Alvino served as Vice President of
      Investor Relations and managed the New York Office of Allen &amp; Caron, Inc.,
      an investor relations agency. His base of clients included medical devices,
      biotechnology, and e-healthcare companies. Mr. Alvino also spent several years
      working with Wall Street brokerages including Ladenburg, Thallman &amp; Co. and
      Martin Simpson &amp; Co.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Stephen
      B. Howell, M.D.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      has
      served as one of Access&#8217; directors since 1996. Dr. Howell is a member of the
      Compensation Committee of the Board. Dr. Howell is a Professor of Medicine
      at
      the University of California, San Diego, and director of the Cancer Pharmacology
      Program of the UCSD Cancer Center. Dr. Howell is a recipient of the Milken
      Foundation prize for his contributions to the field of cancer chemotherapy.
      He
      has served on the National Research Council of the American Cancer Society
      and
      is on the editorial boards of multiple medical journals. Dr. Howell founded
      DepoTech, Inc. and served as a member of its board of directors from 1989 to
      1999. Dr. Howell served on the board of directors of Matrix Pharmaceuticals
      from
      2000 to 2002. Dr. Howell received his A.B. at the University of Chicago and
      his
      M.D. from Harvard Medical School.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Mr.
      David P. Luci</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      has
      served as one of Access&#8217; directors since January 2007. Mr. Luci is Executive
      Vice President of Bioenvision, Inc. He has also served as Bioenvision&#8217;s chief
      financial officer, general counsel and corporate secretary since July 2004,
      after serving as director of finance, general counsel and corporate secretary
      since July 2002. From September 1994 to July 2002, Mr. Luci served as a
      corporate associate at Paul, Hastings, Janofsky &amp; Walker LLP (New York
      office). Prior to that, Mr. Luci served as a senior auditor at Ernst &amp; Young
      LLP (New York office). Mr. Luci is a certified public accountant. He holds
      a
      Bachelor of Science in Business Administration with a concentration in
      accounting from Bucknell University and a J.D. (cum laude) from Albany Law
      School of Union University.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Mr.
      John J. Meakem, Jr. </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">has
      been
      one of Access&#8217; directors since 2001. Mr. Meakem is also a member of the
      Nominating and Corporate Governance Committee of the Board and a member of
      the
      Audit and Finance Committee of the Board. Mr. Meakem is a private investor
      with
      portfolio holdings in innovative companies with a particular focus on
      healthcare. Most recently Mr. Meakem served as Chairman of the Board, President
      and Chief Executive Officer of Advanced Polymer Systems, Inc. from 1991 to
      2000.
      Prior to 1991, he was Corporate Executive Vice President of Combe, Inc. and
      President of Combe North America. Prior to 1970, Mr. Meakem was with Vick
      Chemical Company, a division of Richardson Merrell Drug Corporation, for ten
      years as Vice President of Marketing, New Products &amp;
Acquisitions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>David
      P. Nowotnik, Ph.D</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      has
      been Senior Vice President Research and Development since January 2003 and
      was
      Vice President Research and Development from 1998. From 1994 until 1998, Dr.
      Nowotnik had been with Guilford Pharmaceuticals, Inc. in the position of Senior
      Director, Product Development and was responsible for a team of scientists
      developing polymeric controlled-release drug delivery systems. From 1988 to
      1994
      he was with Bristol-Myers Squibb researching and developing technetium
      radiopharmaceuticals and MRI contrast agents. From 1977 to 1988 he was with
      Amersham International leading the project which resulted in the discovery
      and
      development of Ceretec.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">82</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Mr.
      Phillip S. Wise</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      has been
      Access&#8217; Vice President Business Development since June 2006. Mr. Wise was Vice
      President of Commercial and Business Development for Enhance Pharmaceuticals,
      Inc. and Ardent Pharmaceuticals, Inc. from 2000 until 2006. Prior to that time
      he was with Glaxo Wellcome, from 1990 to 2000 in various
      capacities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Mr.
      Stephen B. Thompson</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      has been
      Vice President since 2000 and Access&#8217; Chief Financial Officer since 1996. From
      1990 to 1996, he was Controller and Administration Manager of Access
      Pharmaceuticals, Inc., a private Texas corporation. Previously, from 1989 to
      1990, Mr. Thompson was Controller of Robert E. Woolley, Inc., a hotel real
      estate company where he was responsible for accounting, finances and investor
      relations. From 1985 to 1989, he was Controller of OKC Limited Partnership,
      an
      oil and gas company, where he was responsible for accounting, finances and
      SEC
      reporting. Between 1975 and 1985 he held various accounting and finance
      positions with Santa Fe International Corporation. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="id_0_46"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Section
      16(a) of the Securities Exchange Act of 1934, as amended (The "Exchange Act"),
      requires the Registrant's officers and directors, and persons who own more
      than
      10% of a registered class of the Registrant's equity securities, to file reports
      of ownership and changes in ownership of equity securities of the Registrant
      with the Securities and Exchange Commission and NASDAQ. Officers, directors
      and
      greater-than 10% stockholders are required by the Securities and Exchange
      Commission regulation to furnish the Registrant with copies of all Section
      16(a)
      that they file.</font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Code
      of Business Conduct and Ethics</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      October 2004, Access adopted a written Code of Business Conduct and Ethics
      for
      Employees, Executive Officers and Directors, applicable to all employees,
      management, and directors, designed to deter wrongdoing and promote honest
      and
      ethical conduct, full, fair and accurate disclosure, compliance with laws,
      prompt internal reporting and accountability to adherence to the Code of
      Business Conduct and Ethics.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="ExecutiveComp"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>EXECUTIVE
      COMPENSATION</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following executive compensation disclosure reflects compensation awarded to,
      earned by or paid to Access&#8217; Chief Executive Officer and each of Access&#8217; other
      executive officers listed below whose total compensation exceeded $100,000
      for
      the fiscal year ended December 31, 2006. Access refers to Access&#8217; Chief
      Executive Officer and these other executive officers as Access&#8217; "named executive
      officers" elsewhere in this prospectus. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Summary
      Compensation Table</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

          <tr>
            <td valign="middle" width="36%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Name
                and Principal Position (7)</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="middle" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Year</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Salary
                ($) (1)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="middle" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Bonus
                ($)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                Awards($) (2)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Option
                Award($) (3) </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
                Other Compensation (4)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="middle" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                ($)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rosemary
                Mazanet</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(5)(8)</sup></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Acting
                CEO</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2006</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">357,385</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">217,500</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">100,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">30,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">81,464</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">168,468</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,594</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,297</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">541,443</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="36%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Kerry
                P. Gray</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(6)</sup></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Former
                President and CEO</font></div>
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2005</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">133,332</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,505</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">136,837</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">David
                P. Nowotnik, Ph.D.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Senior
                Vice President Research</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
                Development</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2006</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">253,620</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">250,710</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">20,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">25,408</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">24,154</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">40,732</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">67,619</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">7,152</font></div>
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            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">321,504</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">374,985</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Phillip
                S. Wise</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(7)</sup></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Vice
                President, Business</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Development</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2006</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">116,667</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">40,732</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">358</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">182,757</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="7%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="36%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                B. Thompson</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Vice
                President, Chief Financial Officer</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2006</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">154,080</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">152,310</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">20,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">15,435</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,704</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">40,732</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">42,262</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,508</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,455</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">219,320</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">229,166</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">____________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">83</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(1)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                amounts deferred under Access&#8217; 401(k)
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(2)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">There
                were no stock awards granted in 2006 and no restricted stock outstanding
                at December 31, 2006.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(3)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                value listed in the above table represents the fair value of the
                options
                granted in prior years that were recognized in 2006 under FAS 123R.
                Fair
                value is calculated as of the grant date using a Black-Sholes
                option-pricing model. The determination of the fair value of share-based
                payment awards made on the date of grant is affected by Access&#8217; stock
                price as well as assumptions regarding a number of complex and subjective
                variables. Access&#8217; assumptions in determining fair value are described in
                note 10 to Access&#8217; audited financial statements for the year ended
                December 31, 2006, included in Access&#8217; Annual Report on Form
                10-KSB.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(4)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amounts
                reported for fiscal years 2006 and 2005 consist of: (i) amounts Access
                contributed to its 401(k) Plan with respect to each named individual,
                (ii)
                amounts Access paid for group term life insurance for each named
                individual, and (iii) for Mr. Gray, premiums paid by Access each
                year for
                life insurance for Mr. Gray. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(5)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amounts
                listed in 2006 and 2005 for Dr. Mazanet indicate compensation paid
                to her
                in connection with her services as Access&#8217; Acting CEO commencing on May
                11, 2005.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(6)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amounts
                listed in 2005 for Mr. Gray indicate compensation paid to him in
                connection with his services as Access&#8217; President and CEO through May 10,
                2005. In addition to such amounts listed in the table above, Mr.
                Gray also
                received a total of $333,333 and $488,335 per the terms of his Separation
                Agreement in 2006 and 2005,
                respectively.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(7)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Phillip
                S. Wise became Access&#8217; Vice President Business Development June 1,
                2006.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(8)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                R. Seiler became Access&#8217; President and Chief Executive Officer effective
                January 1, 2007 and is not included in this table.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Employment
      Agreements</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>President
      and Chief Executive Officer</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      a party to an employment arrangement with Stephen R. Seiler, who was named
      by
      the Board as Access&#8217; President and Chief Executive Officer and director,
      effective as of January 4, 2007 (the "Effective Date"). Mr. Seiler is paid
      an
      annual salary of $350,000 and was granted stock options to purchase 500,000
      shares of Common Stock with an exercise price equal to the closing price of
      Common Stock on the day preceding the Effective Date. Mr. Seiler's options
      vest
      25% on January 4, 2008 and monthly thereafter over a 36 month period. The stock
      options are granted under Access&#8217; 2005 Equity Incentive Plan and the 2007
      Special Stock Option Plan. Mr. Seiler is entitled to similar employee benefits
      as Access&#8217; other executive officers. Under certain circumstances relating to a
      change of control of Access, Mr. Seiler may be entitled to receive a payment
      equal to his annual salary, acceleration of options and extension of health
      care
      benefits.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      a party to an employment arrangement with Rosemary Mazanet, Access&#8217; former
      Acting Chief Executive Officer. Dr. Mazanet reported directly to, and was
      subject to the direction of, the Board. Dr. Mazanet salary was set at $25,000
      monthly. Dr. Mazanet was granted a non-qualified stock option of 6,000 shares
      of
      Common Stock, vesting over a six month period. In November 2005, Dr. Mazanet
      was
      also granted 50,000 options under Access&#8217; 2005 Equity Incentive Plan. 14,000
      options vested on grant, the rest vest upon attainment of preset milestones.
      Dr.
      Mazanet also received similar employee benefits as Access&#8217; other executive
      officers, D&amp;O insurance coverage and received a signing bonus of $30,000.
      The Board granted Dr. Mazanet an additional 200,000 options in 2006.
      Additionally, Dr. Mazanet was awarded a bonus of $100,000 in April
      2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Senior
      Vice President</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      a party to an employment agreement with David P. Nowotnik, Ph.D., Access&#8217; Senior
      Vice President, Research and Development, which renews automatically for
      successive one-year periods, with the current term extending until November
      16,
      2007. Under this agreement, Dr. Nowotnik is currently entitled to receive an
      annual base salary of $253,620, subject to adjustment by the Board. Dr. Nowotnik
      is eligible to participate in all of Access&#8217; employee benefit programs available
      to executives. Dr. Nowotnik is also eligible to receive:</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                bonus payable in cash and Common Stock related to the attainment
                of
                reasonable performance goals specified by the
                Board;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">stock
                options at the discretion of the
                Board;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">long-term
                disability insurance to provide compensation equal to at least $60,000
                annually; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">term
                life insurance coverage of $254,000.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dr.
      Nowotnik is entitled to certain severance benefits in the event that Access
      terminates his employment without cause or if Dr. Nowotnik terminates his
      employment following a change of control. In the event that Access terminates
      the employment agreement for any reason, other than for cause, Dr. Nowotnik
      will
      receive his salary for six months. Access will also continue benefits for such
      period. In the event that Dr. Nowotnik's employment is terminated within six
      months following a change in control or by Dr. Nowotnik upon the occurrence
      of
      certain events following a change in control, Dr. Nowotnik will receive twelve
      months salary and his stock options will become immediately exercisable. Access
      will also continue payment of benefits for such period. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">84</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Vice
      President - Chief Financial Officer</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      party to an employment agreement with Stephen B. Thompson, Access&#8217; Vice
      President and Chief Financial Officer, which renews automatically for successive
      one-year periods. Mr. Thompson is entitled to an annual base salary of $154,080,
      subject to adjustment by the Board. The employment agreement also grants Mr.
      Thompson similar employee benefits as Access&#8217; other executive officers. Mr.
      Thompson is also eligible to receive:</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                bonus payable in cash and Common Stock related to the attainment
                of
                reasonable performance goals specified by the
                Board;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">stock
                options at the discretion of the
                Board;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">long-term
                disability insurance to provide compensation equal to at least $90,000
                annually; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">term
                life insurance coverage of
                $155,000.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mr.
      Thompson is entitled to certain severance benefits in the event that Access
      terminates his employment without cause or if Mr. Thompson terminates his
      employment following a change of control. In the event that Access terminates
      the employment agreement for any reason, other than cause, Mr. Thompson will
      receive salary for six months. Access will also continue benefits for such
      period. In the event that Mr. Thompson's employment is terminated within six
      months following a change of control or by Mr. Thompson upon the occurrence
      of
      certain events following a change in control, Mr. Thompson will receive twelve
      months salary and his stock options will become immediately exercisable. Access
      will also continue payment of benefits for such period.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>2006
      Equity Incentive Plan </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      board of directors adopted and Access&#8217; stockholders approved Access&#8217; 2005 Equity
      Incentive Plan in May 2005. As of December 31, 2006, options to purchase 802,672
      shares of common stock were outstanding at a weighted average exercise price
      of
      $1.04 per share and 197,328 shares remained available for future grant.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Purpose.
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      purpose of the Plan is to attract and retain the best available personnel for
      positions of substantial responsibility and to provide additional incentive
      to
      employees and directors of and advisers and consultants to the Company. The
      purpose of the proposed amendment is to provide the Company with additional
      capacity to award stock options to existing personnel and to attract qualified
      new employees, directors, advisers and consultants through grants of stock
      options. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Administration.
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Plan
      is administered by the Compensation Committee. During 2006, the Compensation
      Committee was composed of four directors, Jeffrey B. Davis, Herbert H. McDade,
      Jr., J. Michael Flinn and Max Link. The Compensation Committee presently is
      composed of Jeffrey B. Davis, David P. Luci and Stephen B. Howell, MD. Subject
      to the provisions of the Plan, the Compensation Committee has discretion to
      determine when awards are made, which employees are granted awards, the number
      of shares subject to each award and all other relevant terms of the awards.
      The
      Compensation Committee also has broad discretion to construe and interpret
      the
      Plan and adopt rules and regulations thereunder. The Compensation Committee
      approved the 2007 Special Stock Option Plan and the grant of 450,000 options
      to
      Access&#8217; new President and Chief Executive Officer in January 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Eligibility.
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Awards
      may be granted to persons who are employees of Access whether or not officers
      or
      members of the Board and directors of or advisers or consultants to Access
      or of
      any of Access&#8217; subsidiaries. No election by any such person is required to
      participate in the Plan.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Shares
      Subject to the Plan. </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      shares issued or to be issued under the Plan are shares of Common Stock, which
      may be newly issued shares or shares held in the treasury or acquired in the
      open market. Previously, no more than 1,000,000 shares could be issued under
      the
      Plan. The foregoing limit is subject to adjustment for stock dividends, stock
      splits or other changes in the Company&#8217;s capitalization. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Stock
      Options. </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Compensation Committee in its discretion may issue stock options which qualify
      as incentive stock options under the Internal Revenue Code or non-qualified
      stock options. The Compensation Committee will determine the time or times
      when
      each stock option becomes exercisable, the period within which it remains
      exercisable and the price per share at which it is exercisable, provided that
      no
      incentive stock option shall be exercised more than 10 years after it is granted
      and no other options shall be exercised more than 10 years and one day after
      it
      is granted, and further provided that the exercise price of any incentive stock
      option shall not be less than the fair market value of the Common Stock on
      the
      date of grant. The closing price of the Common Stock on the OTC Bulletin Board
      on March 30, 2007 was $6.45 per share. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">85</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 54pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Payment
      for shares purchased upon exercise of an option must be made in full in cash
      or
      check, by payment through a broker in accordance with Regulation T of the
      Federal Reserve Board or by such other mode of payment as the Committee may
      approve, including payment in whole or in part in shares of the Common Stock,
      when the option is exercised. No option is transferable except by will or the
      laws of descent and distribution or pursuant to a qualified domestic relations
      order, as defined by the Code or in Title I of the Employee Retirement Income
      Security Act of 1974, as amended.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notwithstanding
      any other provision of the Plan, each non-employee director is also entitled
      to
      receive options to purchase 2,500 shares of Common Stock on the date of each
      annual meeting of stockholders and options to purchase 25,000 shares of Common
      Stock when he or she is first appointed as a director.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Tax
      Considerations.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      The
      following is a brief and general discussion of the federal income tax rules
      applicable to awards under the Plan. With respect to an incentive stock option,
      an employee will generally not be taxed at the time of grant or exercise,
      although exercise of an incentive option will give rise to an item of tax
      preference that may result in an alternative minimum tax. If the employee holds
      the shares acquired upon exercise of an incentive stock option until at least
      one year after issuance and two years after the option grant, he or she will
      have long-term capital gain (or loss) based on the difference between the amount
      realized on the sale or disposition and his or her option price. If these
      holding periods are not satisfied, then upon disposition of the shares the
      employee will recognize ordinary income equal, in general, to the excess of
      the
      fair market value of the shares at time of exercise over the option price,
      plus
      capital gain in respect of any additional appreciation. With respect to a
      non-qualified option, an employee will not be taxed at the time of grant; upon
      exercise, he or she will generally realize compensation income to the extent
      the
      then fair market value of the stock exceeds the option price. Access will
      generally have a tax deduction to the extent that, and at the time that, an
      employee realizes compensation income with respect to an award. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Any
      tax
      deductions Access may be entitled to in connection with awards under the Plan
      may be limited by the $1 million limitation under Section 162(m) of the Code
      on
      compensation paid to any of Access&#8217; chief executive officer or other named
      officers. This limitation is further discussed in the Compensation Committee
      Discussion on Executive Compensation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      purposes of this summary, Access has assumed that no award will be considered
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">deferred
      compensation</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      as that
      term is defined for purposes of the federal tax rules governing nonqualified
      deferred compensation arrangements, Section 409A of the Code, or, if any award
      were considered to any extent to constitute deferred compensation, its terms
      would comply with the requirements of that legislation (in general, by limiting
      any flexibility in the time of payment). For example, the award of a
      non-qualified stock option with an exercise price which is less than the market
      value of the stock covered by the option would constitute deferred compensation.
      If an award includes deferred compensation, and its terms do not comply with
      the
      requirements of these tax rules, then any deferred compensation component of
      the
      award will be taxable when it is earned and vested (even if not then payable)
      and the recipient will be subject to a 20% additional tax.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      all
      cases, recipients of awards should consult their tax advisors regarding the
      tax
      treatment of any awards received by them.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>401(k)
      Plan</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      maintains a defined contribution employee retirement plan, or 401(k) plan,
      for
      Access&#8217; employees. Access&#8217; executive officers are also eligible to participate
      in the 401(k) plan on the same basis as Access&#8217; other employees. The plan is
      intended to qualify as a tax-qualified plan under Section 401(k) of the Internal
      Revenue Code. The plan provides that each participant may contribute up to
      the
      statutory limit, which is $15,500 for calendar year 2007. Participants who
      are
      50 years or older can also make "catch-up" contributions, which in calendar
      year
      2007 may be up to an additional $5,000 above the statutory limit. Under the
      plan, each participant is fully vested in his or her deferred salary
      contributions, including any matching contributions by us, when contributed.
      Participant contributions are held and invested by the participants in the
      plan's investment options. The plan also permits Access to make discretionary
      contributions and matching contributions, subject to established limits and
      a
      vesting schedule. In 2006, Access matched 100% of participant contributions
      up
      to the first two percent of eligible compensation. Access matches participant
      contributions at the first four percent of eligible compensation in 2007.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">86</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Outstanding
      Equity Awards at December 31, 2006</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table sets forth certain information regarding outstanding equity
      awards held by Access&#8217; named executive officers at December 31,
      2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="middle" width="21%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td colspan="6" valign="middle" width="66%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Option
                Awards (1)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="middle" width="21%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Name</font></div>
            </td>
            <td valign="middle" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of Securities Underlying Unexercised Options (#)
                Exercisable</font></div>
            </td>
            <td valign="middle" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of Securities Underlying Unexercised Options (#)
                Unexercisable</font></div>
            </td>
            <td valign="middle" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Equity
                Incentive Plan Awards: Number of Securities Underlying Unexercised
                Unearned </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Options
                (#)</font></div>
            </td>
            <td colspan="2" valign="middle" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Option
                Exercise </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Price
                ($)</font></div>
            </td>
            <td valign="middle" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Option
                Exercise Date</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rosemary
                Mazanet</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(2)</sup></font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">50,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">39,796</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">150,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10,204</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5.45</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.50</font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/06</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11/02/05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/11/05</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Kerry
                P. Gray</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(3)</sup></font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">20,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">28,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">32,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">32,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">20,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">100,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">32,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">32,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">29.25</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.65</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">34.38</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">27.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15.00</font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">01/23/04</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/19/03</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">03/22/02</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11/20/00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10/12/00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">03/01/00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">07/20/99</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">06/18/98</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">David
                P. Nowotnik, Ph.D.</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,167</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,646</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,854</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">75,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,833</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,354</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">146</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11.60</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">29.25</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.10</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.65</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15.00</font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/06</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/23/05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">01/23/04</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">01/30/03</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">03/22/02</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">03/01/00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">07/20/99</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11/16/98</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Phillip
                S. Wise</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">75,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/06</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                B. Thompson</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,979</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,187</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,917</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">75,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,021</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">813</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">83</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11.60</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">29.25</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.10</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.65</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15.00</font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/06</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/23/05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">01/23/04</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">01/30/03</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">03/22/02</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">03/01/00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">07/20/99</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">06/18/98</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="21%">&#160;</td>
            <td align="left" valign="top" width="11%">&#160;</td>
            <td align="left" valign="top" width="13%">&#160;</td>
            <td align="left" valign="top" width="13%">&#160;</td>
            <td align="left" valign="top" width="14%">&#160;</td>
            <td width="3%">&#160;</td>
            <td align="left" valign="top" width="12%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">____________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(1)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
                December 31, 2006, the closing price of Access&#8217; Common Stock as quoted on
                the OTC Bulletin Board was $2.80.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(2)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Options
                listed for Dr. Mazanet include options paid to her in connection
                with her
                services as Access&#8217; Acting CEO commencing on May 11,
                2005.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(3)</sup></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Options
                listed for Mr. Gray include options paid to him in connection with
                his
                services as Access&#8217; President and CEO through May 10,
                2005.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Board
      Committees </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Board
      established an Audit and Finance Committee, a Compensation Committee and a
      Nominating and Corporate Governance Committee. Each of the committees of the
      Board acts pursuant to a separate written charter adopted by the Board. On
      February 8, 2007, the Board also established an Executive Committee consisting
      of Mr. Davis, Mr. Seiler and Dr. Ahn.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">87</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Audit
      and Finance Committee is currently comprised of David P. Luci (chairman) and
      John J. Meakem, Jr. During 2006, the Audit and Finance Committee was composed
      of
      four directors, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Max
      Link,
      Ph.D., Stuart M. Duty, John J. Meakem, Jr., and Jeffrey B. Davis.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      All of
      the current members of the Audit and Finance Committee are independent under
      applicable SEC and AMEX rules and regulations. During 2006 Dr. Link, Mr. Duty
      and Mr. Meakem were independent under applicable SEC and AMEX rules and
      regulations. The Board has determined that Mr. Luci, the chairman of the Audit
      and Finance Committee, is an &#8220;audit committee financial expert,&#8221; under
      applicable SEC rules and regulations. The Audit and Finance Committee&#8217;s
      responsibilities and duties are a</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">mong
      other things to engage the independent auditors, review the audit fees,
      supervise matters relating to audit functions and review and set internal
      policies and procedure regarding audits, accounting and other financial
      controls. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Compensation Committee is currently comprised of Jeffrey B. Davis (chairman),
      Mr. David P. Luci and Dr. Stephen B. Howell. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mr.
      Luci
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">is
      independent </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">under
      applicable AMEX rules and regulations</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      and is a
      non-employee director under applicable SEC rules and &#8220;outside&#8221; under Internal
      Revenue Code Section 162(m). Mr. Davis and Mr. Howell are not independent
      applicable AMEX rules and regulations. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
      2006, the Compensation Committee was composed of Herbert H. McDade, Jr., Jeffrey
      B. Davis, J. Michael Flinn and Stephen B. Howell, MD. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Nominating and Corporate Governance Committee is currently comprised of John
      J.
      Meakem, Jr. (chairman), Mark Ahn, PhD and Mark J. Alvino. During 2006 Stuart
      M.
      Duty was also a member of the committee.&#160;Mr.&#160;Meakem and Mr. Ahn
&#160;are independent</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      under
      applicable AMEX rules and regulations.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Mr.
      Alvino is not independent under applicable AMEX rules and regulations.
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Nominating and Corporate Governance Committee is responsible for, among other
      things, considering potential Board members, making recommendations to the
      full
      Board as to nominees for election to the Board, assessing the effectiveness
      of
      the Board and implementing Access&#8217; corporate governance guidelines.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Compensation
      of Directors</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      director who is not also an Access employee receives a quarterly fee of $3,000
      and $1,000 per quarter per committee (aggregate for all committees) in which
      he/she is a member. The Chairman of the Board is paid an additional $1,000
      per
      quarter and the Chairman of each of the Audit and Finance and Compensation
      Committee is paid an additional $500 per quarter. Mr. Flinn was paid $183,000
      in
      2006 for serving as Chairman of the Board for 2005 and 2006. Each director
      will
      have $2,000 deducted from his or her fee if the director misses more than one
      Board meeting, and $1,000 deducted per committee meeting not attended. In
      addition, Access reimbursed each director, whether an employee or not, the
      expenses of attending Board and committee meetings. Each non-employee director
      is also entitled to receive options to purchase 2,500 shares of Common Stock
      on
      the date of each annual meeting of stockholders and options to purchase 25,000
      shares of Common Stock when he/she is first appointed as a director.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Director
      Compensation Table - 2006 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      table
      below represents the compensation paid to Access&#8217; outside directors during the
      year ended December 31, 2006: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="middle" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Name</font></div>
            </td>
            <td valign="middle" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Fees
                earned or Paid in Cash ($)</font></div>
            </td>
            <td valign="middle" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Option
                Awards ($)(1)</font></div>
            </td>
            <td valign="middle" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
                Other Compensation ($)</font></div>
            </td>
            <td valign="middle" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                ($)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mark
                J. Ahn, PhD (2)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">7,592</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11,592</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mark
                J. Alvino (3)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">13,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,581</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18,581</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Esteban
                Cvitkovic, MD (8)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Jeffrey
                B. Davis (3)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">16,650</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,581</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">22,231</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stuart
                M. Duty (4)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">16,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">8,379</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">24,379</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">J.
                Michael Flinn (5)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">17,525</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15,411</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">183,333</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">216,269</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                B. Howell, MD (6)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,137</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18,137</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">David
                P. Luci (8)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rosemary
                Mazanet, MD, PhD (9)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Max
                Link, PhD (7)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">556</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12,557</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Herbert
                H. McDade, Jr. (6)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">17,200</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,137</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23,338</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">John
                J. Meakem, Jr. (4)</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">16,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">8,379</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">24,380</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;&#160;
                </font></div>
            </td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;&#160;
                </font></div>
            </td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                value listed in the above table represents the fair value of the
                options
                recognized as expense under FAS 123R during 2006, including unvested
                options granted before 2006 and those granted in2006. Fair value
                is
                calculated as of the grant date using a Black-Sholes (&#8220;Black-Sholes&#8221;)
                option-pricing model. The determination of the fair value of share-based
                payment awards made on the date of grant is affected by Access&#8217; stock
                price as well as assumptions regarding a number of complex and subjective
                variables. Access&#8217; assumptions in determining fair value are described in
                note 10 to Access&#8217; audited financial statements for the year ended
                December 31, 2006, included in Access&#8217; Annual Report on Form
                10-KSB.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Represents
                expense recognized in 2006 in respect of 25,000 options to purchase
                share
                based on a grant date fair value of $7,592.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3)</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Represents
                expense recognized in 2006 in respect of 25,000 options to purchase
                shares
                based on grant date fair value of
                $5,581.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">88</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4)</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Represents
                expense recognized in 2006 in respect of 25,000 options to purchase
                shares
                based on a grant date fair value of $5,581; 1,200 options to purchase
                shares based on a grant date fair value of $556; and 4,836 options
                to
                purchase shares based on a grant date fair value of
                $2,242.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(5)</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Represents
                expense recognized in 2006 in respect of 25,000 options to purchase
                shares
                based on a grant date fair value of $5,581; 1,200 options to purchase
                shares based on a grant date fair value of $556; and 20,000 options
                to
                purchase shares based on a grant date fair value of
                $9,274.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(6)</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Represents
                expense recognized in 2006 in respect of 25,000 options to purchase
                shares
                based on a grant date fair value of $5,581 and 1,200 options to purchase
                shares based on a grant date fair value of $556.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(7)</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Represents
                expense recognized in 2006 in respect of 1,200 options to purchase
                shares
                based on grant date fair value of $556.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(8)</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dr.
                Cvitkovic and Mr. Luci became directors in 2007.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(9)</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="middle" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dr.
                Mazanet was an inside director during 2006 and was not paid directors
                fees. She became an outside director in January
                2007.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table summarizes the aggregate number of option awards held by each
      director at December 31, 2006. There were no outstanding stock awards held
      by
      any director at December 31, 2006: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="middle" width="25%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Name</font></div>
            </td>
            <td valign="middle" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of Securities Underlying Unexercised Options (#)
                Exercisable</font></div>
            </td>
            <td valign="middle" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of Securities Underlying Unexercised Options (#)
                Unexercisable</font></div>
            </td>
            <td valign="middle" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Equity
                Incentive Plan Awards: Number of Securities Underlying Unexercised
                Unearned Options (#)</font></div>
            </td>
            <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Option
                Exercise Price ($)</font></div>
            </td>
            <td valign="middle" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Option
                Expiration Date</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mark
                J. Ahn, PhD </font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.85</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">09/01/16</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mark
                J. Alvino </font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/16</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Jeffrey
                B. Davis </font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/16</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Esteban
                Cvitkovic, MD (1)</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stuart
                M. Duty</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,836</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,200</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.40</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/16</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5/12/15</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2/05/16</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2/05/16</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">J.
                Michael Flinn</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,200</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">20,000</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15.00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">17.81</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23.05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14.05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">28.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.40</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/16</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">06/18/08</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">07/20/09</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">06/26/10</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/21/11</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/20/12</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/19/13</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/19/14</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/12/15</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">02/05/16</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">02/05/16</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                B. Howell, MD (3)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">417</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,200</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15.00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">17.81</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23.05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14.05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">28.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.40</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/16</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">06/18/08</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">06/26/10</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/21/11</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/20/12</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/19/13</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/19/14</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/12/15</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">02/05/16</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">David
                P. Luci (1)</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rosemary
                Mazanet, MD, PhD (2)</font></div>
            </td>
            <td align="left" valign="top" width="11%">&#160;</td>
            <td align="left" valign="top" width="12%">&#160;</td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">&#160;</td>
            <td align="left" valign="top" width="9%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Max
                Link, PhD</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,200</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div>&#160;</div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/16</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Herbert
                H. McDade, Jr.</font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,200</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15.00</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">17.81</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23.05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14.05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">28.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.40</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/16</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">06/18/08</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">06/26/10</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/21/11</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/20/12</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/19/14</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/12/15</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">02/05/16</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">89</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">John
                J. Meakem, Jr. </font></div>
            </td>
            <td align="left" valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,500</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,836</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,200</font></div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.63</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">20.25</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14.05</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">28.50</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.40</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">08/17/16</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">02/16/11</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/20/12</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/19/13</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/19/14</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">05/12/15</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">02/05/16</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">02/05/16</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">____________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;</font></div>
            </td>
            <td align="left" valign="middle" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dr.
                Cvitkovic and Mr. Luci became directors in 2007.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)</font></div>
            </td>
            <td align="left" valign="middle" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Since
                Dr. Mazanet became an outside director in January 2007, her options
                are
                reported in the executive compensation tables.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3)</font></div>
            </td>
            <td align="left" valign="middle" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dr.
                Howell also has a warrant to purchase 3,000 shares of Access Common
                Stock
                at an exercise price of $15.00 per share, and a warrant to purchase
                2,000
                shares of Access Common Stock at an exercise price of $24.80 per
                share.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="middle" width="84%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">90</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="LegalProceedings"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>LEGAL
      PROCEEDINGS</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      not currently subject to any material pending legal proceedings.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="SecurityOwnership"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SECURITY
      OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Based
      solely upon information made available to Access, the following table sets
      forth
      certain information with respect to the beneficial ownership of Access&#8217; Common
      Stock as of April 30, 2007 by (i) each person who is known by Access to
      beneficially own more than five percent of Access&#8217; Common Stock; (ii) each of
      Access&#8217; directors; (iii) each of Access&#8217; named executive officers; and (iv) all
      Access&#8217; executive officers and directors as a group. Beneficial ownership as
      reported in the following table has been determined in accordance with Rule
      13d-3 under the Securities Exchange Act of 1934, as amended. The address of
      each
      holder listed below, except as otherwise indicated, is c/o Access
      Pharmaceuticals, Inc., 2600 Stemmons Freeway, Suite 176, Dallas, Texas 75207.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" colspan="4" valign="top" width="81%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 198pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                Stock Beneficially Owned</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td width="3%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Name
                of Beneficial Owner</font></div>
            </td>
            <td align="left" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of Shares</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(1)</sup></font></div>
            </td>
            <td width="3%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">%
                of Class</font></div>
            </td>
            <td width="3%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Jeffery
                B. Davis </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(2)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">30,820</font></div>
            </td>
            <td width="3%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">*
                </font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rosemary
                Mazanet </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(3)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">147,256</font></div>
            </td>
            <td width="3%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.0%</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mark
                Ahn </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(4)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td width="3%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">*</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mark
                J. Alvino </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(5)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">80,525</font></div>
            </td>
            <td width="3%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.2%</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                B. Howell, M.D. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(6)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">53,839</font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.5%</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">John
                J. Meakem, Jr.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>
                (7)</sup></font></div>
            </td>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">53,536</font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.5%</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">David
                P. Nowotnik, Ph.D. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(8)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">122,682</font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.4%</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Phillip
                S. Wise </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(9)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">50,000</font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.4%</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                B. Thompson </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(10)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">91,521</font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.5%</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Larry
                N. Feinberg </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(11)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,142,964
                </font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">26.4%
                </font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Kerry
                P. Gray </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(12)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">355,136</font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9.3%</font></div>
            </td>
            <td width="3%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">SCO
                Capital Partners LLC </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(13)
                </sup></font></div>
            </td>
            <td align="right" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,682,040
                </font></div>
            </td>
            <td width="3%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">57.0%</font></div>
            </td>
            <td width="3%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="38%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
                Directors and Executive Officers as a group</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(consisting
                of 10 persons) </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>(14)</sup></font></div>
            </td>
            <td align="right" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">655,180</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td width="3%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14.8%</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td width="3%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">*
      - Less
      than 1%</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                Access&#8217; outstanding shares of Common Stock held plus all shares of Common
                Stock issuable upon exercise of options, warrants and other rights
                exercisable within 60 days of April 30, 2007.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mr.
                Davis is President of SCO Securities LLC. His address is c/o SCO
                Capital
                Partners LLC, 1285 Avenue of the Americas, 35</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
                Floor, New York, NY 10019. SCO Securities LLC and affiliates (SCO
                Capital
                Partners LLC, Beach Capital LLC, Lake End Capital LLC, Howard Fischer,
                Mr.
                Davis and Mark J. Alvino) are known to beneficially own warrants
                to
                purchase an aggregate of 4,682,040 of Access&#8217; Common Stock and 5,454,544
                shares of Common Stock issuable to them upon conversion of notes.
                Mr.
                Davis disclaims beneficial ownership of all such shares except to
                the
                extent of his pecuniary interest therein. Does not include any such
                shares
                other than 5,280 shares underlying warrants held directly by Mr.
                Davis.
                Includes presently exercisable options for the purchase of 25,000
                shares
                of Access&#8217; Common Stock pursuant to the 2005 Equity Incentive
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                presently exercisable options for the purchase of 141,256 shares
                of
                Access&#8217; Common Stock pursuant to the 2005 Equity Incentive Plan and 6,000
                shares of Access&#8217; Common Stock pursuant to the 1995 Stock Option
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                presently exercisable options for the purchase of 25,000 shares of
                Access&#8217;
                Common Stock pursuant to the 2005 Equity Incentive
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">91</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">&#160;</div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt">&#160;</td>
            <td>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(5)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                55,525 shares of Common Stock underlying warrants held by Mr. Alvino.
                Mr.
                Alvino is Managing Director of SCO Securities LLC. His address is
                c/o SCO
                Capital Partners LLC, 1285 Avenue of the Americas, 35</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
                Floor, New York, NY 10019. SCO Securities LLC and affiliates (SCO
                Capital
                Partners LLC, Beach Capital LLC, Lake End Capital LLC, Howard Fischer,
                Jeffrey B. Davis and Mr. Alvino) are known to beneficially own warrants
                to
                purchase an aggregate of 4,682,040 of Access&#8217; Common Stock and 5,454,544
                shares of Common Stock issuable to them upon conversion of notes.
                Mr.
                Alvino disclaims beneficial ownership of all such shares except to
                the
                extent of his pecuniary interest therein. Does not include any such
                shares
                other than 55,525 shares underlying warrants held directly by Mr.
                Alvino.
                Includes presently exercisable options for the purchase of 25,000
                shares
                of Access&#8217; Common Stock pursuant to the 2005 Equity Incentive
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(6)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                presently exercisable options for the purchase of 26,200 shares of
                Access&#8217;
                Common Stock pursuant to the 2005 Equity Incentive Plan, 12,917 shares
                of
                Access&#8217; Common Stock pursuant to the 1995 Stock Option Plan, a warrant to
                purchase 3,000 shares of Access&#8217; Common Stock at an exercise price of
                $15.00 per share, and a warrant to purchase 2,000 shares of Access&#8217; Common
                Stock at an exercise price of $24.80 per
                share.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(7)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                presently exercisable options for the purchase of 31,036 shares of
                Access&#8217;
                Common Stock pursuant to the 2005 Equity Incentive Plan and 13,500
                shares
                of Access&#8217; Common Stock pursuant to the 1995 Stock Option
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(8)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                presently exercisable options for the purchase of 50,000 shares of
                Access&#8217;
                Common Stock pursuant to the 2005 Equity Incentive Plan and 55,167
                shares
                of Access&#8217; Common Stock pursuant to the 1995 Stock Option
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(9)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                presently exercisable options for the purchase of 50,000 shares of
                Access&#8217;
                Common Stock pursuant to the 2005 Equity Incentive
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(10)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Includes
                presently exercisable options for the purchase of 50,000 shares of
                Access&#8217;
                Common Stock pursuant to the 2005 Equity Incentive Plan and 32,000
                shares
                of Access&#8217; Common Stock pursuant to the 1995 Stock Option
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(11)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Larry
                N. Feinberg is a partner in Oracle Partners, L.P. His address is
                c/o
                Oracle Partners, L.P., 200 Greenwich Avenue, 3</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>rd</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
                Floor, Greenwich, CT 06830. Oracle Partners, L.P. and affiliates
                (Oracle
                Institutional Partners, L.P., Oracle Investment Management, Inc.,
                Sam
                Oracle Fund, Inc. and Mr. Feinberg) are known to beneficially own
                an
                aggregate of 339,964 shares of Access&#8217; Common Stock and convertible notes
                which may convert into an aggregate of 803,000 shares of Access&#8217; Common
                Stock.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mr.
                Gray's address is 4939 Stony Ford Dr., Dallas, Texas 75287. Includes
                presently exercisable options for the purchase of 296,000 shares
                of
                Access&#8217; Common Stock pursuant to the 1995 Stock Option Plan and the 2000
                Special Stock Option Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(13)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">SCO
                Capital Partners LLC's address is 1285 Avenue of the Americas,
                35</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
                Floor, New York, NY 10019. SCO Capital Partners LLC and affiliates
                (Beach
                Capital LLC, Lake End Capital LLC, Howard Fisher, Jeffrey B. Davis
                and
                Mark J. Alvino) are known to beneficially own warrants to purchase
                an
                aggregate of 4,682,040 shares of Access&#8217; Common Stock and 5,454,544 shares
                of Common Stock issuable to them upon conversion of notes. Each of
                Mr.
                Davis and Mr. Alvino, Access&#8217; directors and executives with SCO Capital
                Partners LLC, disclaims beneficial ownership of such shares except
                to the
                extent of his pecuniary interest
                therein.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(14)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Does
                not include shares held by SCO Securities LLC and affiliates (other
                than
                shares underlying warrants held directly by Messrs. Davis and
                Alvino).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SECURITIES
      AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      adopted its 2005 Equity Incentive Plan in May 2005, as amended, authorizing
      1,675,000 shares under the plan. Access issued 977,672 options or rights under
      this plan as of&#160;June 6, 2007. The balance of the options outstanding as
      of&#160;June 6, 2007 is 697,328. Access adopted its 2001 Restricted Stock Plan
      in May 2001, authorizing 80,000 shares of its authorized but unissued common
      stock were reserved for issuance to certain employees, directors, consultants
      and advisors. Access issued 27,182 shares and 52,818 shares available for
      grant.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">92</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table sets forth information as of December 31, 2006 about shares
      of
      Common Stock outstanding and available for issuance under Access&#8217; equity
      compensation plans existing as of such date.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Plan
                Category</strong></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Number
                of securities to be issued upon exercise of outstanding options,
                </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>warrants
                and rights</strong></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Weighted-average
                exercise price of outstanding options, </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>warrants
                and rights</strong></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Number
                of securities remaining available for future issuance under equity
                compensation plans (excluding securities reflected in</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>
                column (a))</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">&#160;</td>
            <td width="2%">&#160;</td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(a)
                </font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(b)</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(c)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="7" valign="bottom" width="84%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Equity
                compensation plans approved by security holders</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005
                Equity Incentive Plan</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1995
                Stock Awards Plan</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2001
                Restricted Stock Plan</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="middle" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">802,672</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">360,917</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="middle" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                1.04</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$18.03</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="middle" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">197,328</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">52,818</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="7" valign="bottom" width="84%">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="7" valign="bottom" width="84%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Equity
                compensation plans not approved by security holders</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2000
                Special Stock Option</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Plan</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">100,000</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$12.50</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="middle" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-
                </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="top" width="20%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,263,589</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                6.80</font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="top" width="20%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">250,146</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      2000 Special Stock Option Plan </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      2000
      Special Stock Option Plan (the "Special Plan") was adopted by the Board in
      October 2000. The Special Plan is a non-stockholder approved plan (as permitted
      under NASD rules and regulations applicable at the time of adoption by the
      Board). The Special Plan is intended to be a broadly based plan within the
      meaning of NASD rules and regulations applicable at the time of adoption by
      the
      Board. The Special Plan is not intended to be an incentive stock option plan
      within the meaning of Section 422 of the Internal Revenue Code of 1986, as
      amended (the &#8220;Code&#8221;). The Special Plan allows for the issuance of up to 100,000
      options to acquire Access&#8217; stock all of which have been issued. The purpose of
      the Special Plan is to encourage ownership of Common Stock by employees,
      consultants, advisors and directors of Access and its affiliates and to provide
      additional incentive for them to promote the success of Access&#8217; business. The
      Special Plan provides for the grant of non-qualified stock options to employees
      (including officers, directors, advisors and consultants). The Special Plan
      will
      expire in October 2010, unless earlier terminated by the Board. The options
      that
      have been granted expire June 30, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
      2007 Special Stock Option Plan </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      2007
      Special Stock Option Plan (the "Plan") was adopted by the Board in January
      2007.
      The Plan is not intended to be an incentive stock option plan within the meaning
      of Section 422 of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;).
      The Plan allows for the issuance of up to 450,000 options to acquire Access&#8217;
stock all of which have been issued. The purpose of the Plan is to encourage
      ownership of Common Stock by employees, consultants, advisors and directors
      of
      Access and its affiliates and to provide additional incentive for them to
      promote the success of Access&#8217; business. The Plan provides for the grant of
      non-qualified stock options to employees (including officers, directors,
      advisors and consultants). The Plan will expire in January 2017, unless earlier
      terminated by the Board. All of the options have been granted in the Plan in
      January 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="CertainRelationships"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>CERTAIN
      RELATIONSHIPS AND RELATED TRANSACTIONS</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      event SCO Capital Partners LLC (&#8220;SCO&#8221;) and its affiliates were to convert all of
      their notes and exercise all of their warrants, they would own approximately
      74.1% of the voting securities of Access. During 2006 SCO and affiliates were
      paid $415,000 in fees relating to the issuance of convertible notes and were
      paid $131,000 in investor relations fees.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">93</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dr.
      Howell, one of Access&#8217; directors, also serves as a scientific consultant to
      Access pursuant to a consulting agreement that provides for a minimum of two
      days consulting during 2007 at a rate of $5,880 per month plus expenses. Dr.
      Howell received warrants to purchase 2,000 shares Access&#8217; Common Stock at $24.80
      per share that can be exercised until January 1, 2009; and warrants to purchase
      3,000 shares of Access&#8217; Common Stock at $15.00 per share that can be exercised
      until January 1, 2008. During 2006, Dr. Howell was paid $69,000 in consulting
      fees; during 2005, Dr. Howell was paid $79,000 in consulting fees; and during
      2004 Dr. Howell was paid $58,000 in consulting fees. Dr. Howell&#8217;s agreement with
      Access expires March 1, 2008. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January 20, 2006, the Board approved the payment of a fee of $140,000 to J.
      Michael Flinn, Access&#8217; former Chairman of the Board, for services as Chairman of
      the Board for fiscal 2005. The $140,000 fee was paid on the completion of a
      financing. The Board also approved the grant of options to purchase 20,000
      shares of Common Stock at an exercise price of $3.15 per share to J. Michael
      Flinn for services as Chairman of the Board. In May 2006, the Board also
      approved the payment of a fee of $43,333 to Mr. Flinn for services as Chairman
      of the Board for 2006. The Board also approved the grant of options to purchase
      4,836 shares of Common Stock at an exercise price of $3.15 per share to Messrs.
      Duty and Meakem, members of the then existing Merger and Acquisitions Committee
      of the Board, for services in connection therewith. The Board also approved
      the
      grant of options to purchase 1,200 shares of Common Stock at an exercise price
      of $3.15 per share to each member of the Board, for services as members of
      the
      Board. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      August
      2006, the Board approved the grant of options to purchase 25,000 shares of
      Common Stock at an exercise price of $0.63 per share to each member of the
      Board.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October 12, 2000, the Board authorized a restricted stock purchase program.
      Under the program, Access&#8217; executive officers were given the opportunity to
      purchase shares of Common Stock in an individually designated amount per
      participant determined by Access&#8217; Compensation Committee. A total of 36,000
      shares were purchased by such officers at $27.50 per share, the fair market
      value of the Common Stock on October 12, 2000, for an aggregate consideration
      of
      $990,000. The purchase price was paid through the participant&#8217;s delivery of a
      50%-recourse promissory note payable to Access. Each note bears interest at
      5.87% compounded semi-annually and has a maximum term of ten years. The notes
      are secured by a pledge to Access of the purchased shares. Access recorded
      the
      notes receivable of $990,000 from participants in this program as a reduction
      of
      equity in the Consolidated Balance Sheet. As of December 31, 2006, principal
      and
      interest on the notes was: Mr. Gray - $809,000; Dr. Nowotnik - $404,000; and
      Mr.
      Thompson - $243,000. In accordance with the Sarbanes-Oxley Act of 2002, Access
      no longer makes loans to its executive officers. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="MarketForCommonEquity"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>MARKET
      FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      common stock has traded on the OTC Bulletin Board, or OTCBB, under the trading
      symbol ACCP since June 5, 2006. From February 1, 2006 until June 5, 2006 Access
      traded on the &#8220;Pink Sheets&#8221; under the trading symbol AKCA. From March 30, 2000
      until January 31, 2006 Access traded on the American Stock Exchange, or AMEX,
      under the trading symbol AKC. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table sets forth, for the periods indicated, the high and low closing
      prices as reported by OTCBB, the Pink Sheets and AMEX for Access&#8217; common stock
      for fiscal years 2006 and 2005, and for the first quarter of fiscal year 2007.
      The OTCBB and Pink Sheet quotations reflect inter-dealer prices, without retail
      mark-up, mark-down or commission and may not represent actual
      transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      per
      share information reflect a one for five reverse stock split effected June
      5,
      2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" width="70%">

          <tr>
            <td align="left" valign="top" width="40%">
            </td>
            <td align="left" colspan="2" valign="top" width="30%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Common
                Stock</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
            </td>
            <td align="left" valign="top" width="15%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>High</strong></font></div>
            </td>
            <td align="left" valign="top" width="15%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Low</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Period&#160;Ended</strong></font></div>
            </td>
            <td align="left" valign="top" width="15%">
            </td>
            <td align="left" valign="top" width="15%">
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">First
                quarter March 31, 2007</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.66</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.50</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">To June 6, 2007</td>
            <td align="left" valign="top" width="15%">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;6.75</td>
            <td align="left" valign="top" width="15%"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;4.30&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Fiscal
                Year Ended December 31, 2006</strong></font></div>
            </td>
            <td align="left" valign="top" width="15%">
            </td>
            <td align="left" valign="top" width="15%">
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">First
                quarter </font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.65</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.80</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Second
                quarter</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.50</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.10</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Third
                quarter</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.30</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.45</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Fourth
                quarter</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.00</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.05</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="15%">&#160;</td>
            <td align="left" valign="top" width="15%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Fiscal
                Year Ended December 31, 2005</strong></font></div>
            </td>
            <td align="left" valign="top" width="15%">&#160;</td>
            <td align="left" valign="top" width="15%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">First
                quarter</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.30</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11.00</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Second
                quarter</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15.05</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">8.80</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Third
                quarter </font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9.95</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.80</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Fourth
                quarter </font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">8.65</font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.60</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">94</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Holders</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      number of record holders of Access common stock at&#160;June 6, 2007 was
      approximately 3,000. On&#160;June 6, 2007, the closing price for the common
      stock as quoted on the OTCBB was $5.20. There were 3,541,394 shares of common
      stock outstanding at&#160;June 6, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Options
      and Warrants</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">There
      are
      4,826,517 outstanding warrants and 1,888,704 outstanding options to purchase
      Access&#8217; common equity as of&#160;June 6, 2007. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Shares
      Eligible for Future Sales</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      issued 3,541,394 shares of its common stock as of&#160;June 6, 2007. Of these
      shares, all shares are unrestricted and held by non-affiliates, and are freely
      tradable without restriction under the Securities Act. These shares will be
      eligible for sale in the public market, subject to certain volume limitations
      and the expiration of applicable holding periods under Rule 144 under the
      Securities Act. In general, under Rule 144 as currently in effect, a person
      (or
      persons whose shares are aggregated) who has beneficially owned restricted
      shares for at least one year (including the holding period of any prior owner
      or
      affiliate) would be entitled to sell within any three-month period a number
      of
      shares that does not exceed the greater of one percent (1%) of the number of
      shares of common stock then outstanding or (2) the average weekly trading volume
      of the common stock during the four calendar weeks preceding the filing of
      a
      Form 144 with respect to such sale. Sales under Rule 144 are also subject to
      certain manner of sale provisions and notice requirements and to the
      availability of current public information about us. Under Rule 144(k), a person
      who is not deemed to have been an affiliate of Access at any time during the
      three months preceding a sale, and who has beneficially owned the shares
      proposed to be sold for at least two years (including the holding period of
      any
      prior owner except an affiliate), is entitled to sell such shares without
      complying with the manner of sale, public information, volume limitation or
      notice provisions of Rule 144. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Dividends</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      never declared or paid any cash dividends on its preferred stock or common
      stock
      and Access does not anticipate paying any cash dividends in the foreseeable
      future. The payment of dividends, if any, in the future is within the discretion
      of Access&#8217; Board of Directors and will depend on its earnings, capital
      requirements and financial condition and other relevant facts. Access currently
      intends to retain all future earnings, if any, to finance the development and
      growth of its business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="DescriptionOfSecurities"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>DESCRIPTION
      OF SECURITIES</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      certificate of incorporation authorizes the issuance of 100,000,000 shares
      of
      its common stock, $.01 par value per share, and 2,000,000 shares of preferred
      stock, $.01 par value per share, which may be issued in one or more series.
      As
      of&#160;June 6, 2007 there were 3,541,394 shares of Access&#8217; common stock
      outstanding and held of record by approximately 5,900 stockholders, and there
      were no shares of its preferred stock outstanding.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">95</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Common
      Stock</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Holders
      of Access&#8217; common stock are entitled to one vote for each share held on all
      matters submitted to a vote of stockholders and have the right to vote
      cumulatively for the election of directors. This means that in the voting at
      Access&#8217; annual meeting, each stockholder or his proxy, may multiply the number
      of his shares by the number of directors to be elected then cast the resulting
      total number of votes for a single nominee, or distribute such votes on the
      ballot among the nominees as desired. Holders of Access&#8217; common stock are
      entitled to receive ratably such dividends, if any, as may be declared by
      Access&#8217; Board of Directors out of funds legally available therefor, subject to
      any preferential dividend rights for Access&#8217; outstanding preferred stock. Upon
      Access&#8217; liquidation, dissolution or winding up, the holders of Access&#8217; common
      stock are entitled to receive ratably Access&#8217; net assets available after the
      payment of all debts and other liabilities and subject to the prior rights
      of
      any of Access&#8217; outstanding preferred stock. Holders of Access&#8217; common stock have
      no preemptive, subscription, redemption or conversion rights. The outstanding
      shares of Access&#8217; common stock are, and the shares offered by the selling
      stockholders in this offering will be, fully paid and nonassessable. The rights,
      preferences and privileges of holders of Access&#8217; common stock are subject to,
      and may be adversely affected by, the rights of the holders of shares of any
      series of Access&#8217; preferred stock which Access may designate and issue in the
      future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Preferred
      Stock</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      Board of Directors is authorized, subject to certain limitations prescribed
      by
      law, without further stockholder approval, to issue from time to time up to
      an
      aggregate of 2,000,000 shares of preferred stock in one or more series and
      to
      fix or alter the designations, preferences, rights and any qualifications,
      limitations or restrictions of the shares of each such series thereof, including
      the dividend rights, dividend rates, conversion rights, voting rights and terms
      of redemption of shares constituting any series or designations of such series.
      The issuance of preferred stock may have the effect of delaying, deferring
      or
      preventing a change of control. The fact that Access&#8217; board of directors has the
      right to issue preferred stock without stockholder approval could be used to
      institute a &#8220;poison pill&#8221; that would work to dilute the stock ownership of a
      potential hostile acquirer, effectively preventing acquisitions that have not
      been approved by Access&#8217; board of directors. Access has no present plans to
      issue any shares of preferred stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SCO
      Capital Partners LLC - Notes and Warrants</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December 6, 2006, Access entered into a secured note and warrant purchase
      agreement pursuant to which Access sold and issued an aggregate of $500,000
      of
      7.5% convertible notes now due June 11, 2007 and warrants to purchase 386,364
      shares of common stock of Access. Net proceeds to Access were $450,000. The
      notes and warrants were sold in a private placement to a group of accredited
      investors led by SCO and affiliates. Each noteholder received a warrant to
      purchase a number of shares of common stock of Access equal to 75% of the total
      number shares of Access common stock into which such holder's note is
      convertible. Each warrant has an exercise price of $1.32 per share and is
      exercisable at any time prior to December 6, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October 24, 2006, Access entered into a secure note and warrant purchase
      agreement pursuant to which Access sold and issued an aggregate of $500,000
      of
      7.5% convertible notes now due June 11, 2007 and warrants to purchase 386,364
      shares of common stock of Access. Net proceeds to Access were $450,000. The
      notes and warrants were sold in a private placement to a group of accredited
      investors led by SCO and affiliates. Each noteholder received a warrant to
      purchase a number of shares of common stock of Access equal to 75% of the total
      number shares of Access common stock into which such holder's note is
      convertible. Each warrant has an exercise price of $1.32 per share and is
      exercisable at any time prior to October 24, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 16, 2006, Access entered into a secured note and warrant purchase
      agreement pursuant to which Access sold and issued an aggregate of $5,000,000
      of
      7.5% convertible notes now due June 11, 2007 and warrants to purchase an
      aggregate of 3,863,634 shares of common stock of Access. Net proceeds to Access
      were $4.5 million after offering costs of approximately $500,000, which are
      being amortized to interest expense over the term of the debt. The notes and
      warrants were sold in a private placement to a group of accredited investors
      led
      by SCO and its affiliates. Each noteholder received a warrant to purchase a
      number of shares of common stock of Access equal to 75% of the total number
      shares of Access common stock into which such holder's note is convertible.
      Each
      warrant has an exercise price of $1.32 per share and is exercisable at any
      time
      prior to February 16, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">96</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      the
      secured notes mature on June 11, 2007, are convertible into Access common stock
      at a fixed conversion rate of $1.10 per share, bear interest of 7.5% per annum
      and are secured by the assets of Access. Each note may be converted at the
      option of the noteholder or Access under certain circumstances as set forth
      in
      the notes. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      event SCO and its affiliates were to convert all of their notes and exercise
      all
      of their warrants, it would own approximately 74.1% of the voting securities
      of
      Access. Access may be required to pay in cash, up to 2% per month, as defined,
      as liquidated damages for failure to file and keep effective a registration
      statement timely as required by investor rights agreements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with the sale and issuance of notes and warrants, Access entered
      into
      an investors rights agreement whereby it granted SCO the right to designate
      two
      individuals to serve on the Board of Directors of Access while the notes are
      outstanding, and also granted registration rights with respect to the shares
      of
      common stock of Access underlying the notes and warrants. SCO designated Jeffrey
      B. Davis and Mark J. Alvino to the Board of Directors, and on March 13, 2006
      Messrs, Davis and Alvino were appointed to the Board of Directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Other
      Convertible Notes</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">One
      holder of $4 million worth of 7.7% convertible notes (Oracle Partners LP and
      related funds) has amended their notes to a new maturity date, initially to
      April 28 (and subsequently to June 12, 2007), with the conversion price being
      reduced from $27.50 per share to $5.00 per share. In addition, Access may cause
      a mandatory conversion of the notes into common stock if the common stock trades
      at a price of at least 1.5 times the conversion price for a minimum number
      of
      trading days. There is also a provision to allow for a minimum price for
      conversion in the event of a change of control of Access. This modification
      resulted in Access recording additional debt discount of $2.1 million, which
      will be accreted to interest expense to the revised maturity date. At March
      31,
      2007, there is $100,000 of debt discount remaining.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Another
      noteholder, holding $5.5 million worth of 7.7% convertible notes has amended
      their note to a new maturity date, September 13, 2010 and elected to have the
      2005 and 2006 interest of $880,000 to be paid on September 13, 2007 or earlier
      if Access receives $5.0 million of new funds. The delayed interest will earn
      interest at a rate of 10.0%.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Since
      Access&#8217; inception, Access has devoted its resources primarily to fund its
      research and development programs. Access has been unprofitable since inception
      and to date has received limited revenues from the sale of products. Access
      cannot assure you that Access will be able to generate sufficient product
      revenues to attain profitability on a sustained basis or at all. Access expects
      to incur losses for the next several years as Access continues to invest in
      product research and development, preclinical studies, clinical trials and
      regulatory compliance. As of March 31, 2007, Access&#8217; accumulated deficit was
      $81,799,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Transfer
      Agent and Registrar</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      transfer agent and registrar of Access&#8217; common stock is American Stock Transfer
&amp; Trust Company, New York, New York.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Delaware
      Law and Certain Charter and By-Law Provisions</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Certain
      anti-takeover provisions.</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      subject to the provisions of Section 203 of the General Corporation Law of
      Delaware. Section 203 prohibits certain publicly held Delaware corporations
      from
      engaging in a &#8220;business combination&#8221; with an &#8220;interested stockholder,&#8221; for a
      period of three years after the date of the transaction in which the person
      became an &#8220;interested stockholder&#8221;, unless the business combination is approved
      in a prescribed manner. A &#8220;business combination&#8221; includes mergers, asset sales
      and other transactions resulting in a financial benefit to the interested
      stockholder. Subject to certain exceptions, an &#8220;interested stockholder&#8221; is a
      person or entity who, together with affiliates and associates, owns (or within
      the preceding three years, did own) 15% or more of Access&#8217; voting stock. The
      statute contains provisions enabling Access to avoid the statute&#8217;s restrictions
      if the stockholders holding a majority of the Access&#8217; voting stock approve its
      Certificate of Incorporation which provides that Access&#8217; directors shall be
      divided into three classes, with the terms of each class to expire on different
      years.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, Access&#8217; Certificate of Incorporation, in order to combat &#8220;greenmail,&#8221;
provides in general that any direct or indirect purchase by Access of any of
      Access&#8217; voting stock or rights to acquire voting stock known to be beneficially
      owned by any person or group which holds more than five percent of a class
      of
      Access&#8217; voting stock and which has owned the securities being purchased for less
      than two years must be approved by the affirmative vote of at least two-thirds
      of the votes entitled to be cast by the holders of voting stock, subject to
      certain exceptions. The prohibition of &#8220;greenmail&#8221; may tend to discourage or
      foreclose certain acquisitions of Access&#8217; securities which might temporarily
      increase the price of Access&#8217; securities. Discouraging the acquisition of a
      large block of Access&#8217; securities by an outside party may also have a potential
      negative effect on takeovers. Parties seeking control of Access through large
      acquisitions of its securities will not be able to resort to &#8220;greenmail&#8221; should
      their bid fail, thus making such a bid less attractive to persons seeking to
      initiate a takeover effort.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Elimination
      of Monetary Liability for Officers and Directors</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      Certificate of Incorporation incorporates certain provisions permitted under
      the
      General Corporation Law of Delaware relating to the liability of directors.
      The
      provisions eliminate a director&#8217;s liability for monetary damages for a breach of
      fiduciary duty, including gross negligence, except in circumstances involving
      certain wrongful acts, such as the breach of director&#8217;s duty of loyalty or acts
      or omissions, which involve intentional misconduct or a knowing violation of
      law. These provisions do not eliminate a director&#8217;s duty of care. Moreover,
      these provisions do not apply to claims against a Director for violations of
      certain laws, including certain federal securities laws. Access&#8217; Certificate of
      Incorporation also contains provisions to indemnify the directors, officers,
      employees or other agents to the fullest extent permitted by the General
      Corporation Law of Delaware. Access believes that these provisions will assist
      Access in attracting and retaining qualified individual to serve as
      directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Indemnification
      of Officers and Directors</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      Certificate of Incorporation also contains provisions to indemnify the
      directors, officers, employees or other agents to the fullest extent permitted
      by the General Corporation Law of Delaware. These provisions may have the
      practical effect in certain cases of eliminating the ability of stockholders
      to
      collect monetary damages from directors. Access believes that these provisions
      will assist Access in attracting or retaining qualified individuals to serve
      as
      Access&#8217; directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="InterestOfNamed"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>EXPERTS</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        consolidated financial statements incorporated in this proxy
        statement/prospectus by reference to the Access Annual Report on Form 10-KSB
        for
        the year ended December 31, 2006 have been so incorporated in reliance on
        the
        report of Whitley Penn LLP, an independent registered public accounting firm,
        given on the authority of said firm as experts in auditing and accounting.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        consolidated financial statements as of December 31, 2005 and for each of
        the
        two years in the period ended December 31, 2005 included in this registration
        statement have been audited by Grant Thornton LLP, independent registered
        public
        accountants, as indicated in their report with respect thereto, and are included
        herein in reliance upon the authority of said firm as experts in accounting
        and
        auditing. </font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">None
      of
      the independent public registered accounting firms named above have any interest
      in the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="LegalMatters"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>LEGAL
      MATTERS</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Bingham
      McCutchen LLP has passed upon the validity of the shares of common stock offered
      hereby.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="HowToGetInfo"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>HOW
      TO GET MORE INFORMATION</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      filed with the Securities and Exchange Commission in Washington, DC, a
      registration statement on Form S-4 under the Securities Act of 1933 with respect
      to the shares Access is offering. Prior to the effective date of the
      registration statement, Access was subject to the information requirements
      of
      the Securities Exchange Act of 1934 (the "Exchange Act"). This prospectus does
      not contain all of the information set forth in the registration statement,
      as
      permitted by the rules and regulations of the SEC. Reference is hereby made
      to
      the registration statement and exhibits thereto for further information with
      respect to Access and the shares to which this prospectus relates. Copies of
      the
      registration statement and other information filed by with the SEC can be
      inspected and copied at the public reference facilities maintained by the SEC
      in
      Washington, DC at 450 Fifth Street, NW, Washington, DC 20549. In addition,
      the
      SEC maintains a World Wide Web site that contains reports, proxy statements
      and
      other information regarding registrants such as Access which filed
      electronically with the SEC at the following Internet address:
      (http:www.sec.gov).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      files periodic reports, proxy statements and other information with the
      Securities and Exchange Commission in accordance with requirements of the
      Exchange Act. These periodic reports, proxy statements and other information
      are
      available for inspection and copying at the regional offices, public reference
      facilities and Internet site of the Securities and Exchange Commission referred
      to above. In addition, you may request a copy of any of Access&#8217; periodic reports
      filed with the Securities and Exchange Commission at no cost, by writing or
      telephoning us at the following address:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Investors
      Relations</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      Pharmaceuticals, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2600
      Stemmons Freeway, Suite 176</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dallas,
      Texas 75207</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(214)
      905-5100</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Information
      contained on Access&#8217; website is not a prospectus and does not constitute a part
      of this Prospectus.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">You
      should rely only on the information contained in or incorporated by reference
      or
      provided in this Prospectus. Access has not authorized anyone else to provide
      you with different information. Access is not making an offer of these
      securities in any state where the offer is not permitted. You should not assume
      the information in this Prospectus is accurate as of any date other than the
      date on the front of this Prospectus.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">99</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="Item6"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>MANAGEMENT'S
      </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>DISCUSSION
      AND ANALYSIS OR PLAN OF OPERATIONS</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following discussion should be read in conjunction with Access&#8217; consolidated
      financial statements and related notes included in this Form S-4.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Overview</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      Pharmaceuticals, Inc. (&#8220;Access&#8221;) is a Delaware corporation. Access is an
      emerging biopharmaceutical company developing products for use in the treatment
      of cancer, the supportive care of cancer, and other disease states. Access&#8217;
product for the management of oral mucositis, MuGard&#8482;, received marketing
      clearance by the FDA as a device. Its lead clinical development program for
      the
      drug candidate ProLindac&#8482; (formerly known as AP5346) is in Phase II clinical
      testing. Access also has advanced drug delivery technologies including
      Cobalamin&#8482;-mediated oral drug delivery and targeted delivery.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Together
      with its subsidiaries, Access has proprietary patents or rights to one
      technology approved for marketing and three drug delivery technology
      platforms:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      MuGard&#8482; (mucoadhesive liquid technology),</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      synthetic polymer targeted delivery,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cobalamin-mediated oral delivery, </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      Cobalamin-mediated targeted delivery.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Products</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has used its drug delivery technologies to develop the following products and
      product candidates:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ACCESS
      DRUG PORTFOLIO</strong></font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Compound</strong></font></div>
            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Originator</strong></font></div>
            </td>
            <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Technology</strong></font></div>
            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Indication</strong></font></div>
            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Clinical</strong></font></div>
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                (1)</strong></font></div>
            </td>
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          <tr>
            <td align="left" valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">MuGard&#8482;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mucoadhesive</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
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          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
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                AP5346) (2)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
                - U London</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Synthetic</font></div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cancer</font></div>
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            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Phase
                II</font></div>
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          </tr>
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            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Oral
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            </td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
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            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
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          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Oral
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Various</font></div>
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            <td valign="bottom" width="1%">&#160;</td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
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          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin-Targeted
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            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cobalamin</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%">
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            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pre-Clinical</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">&#160;</td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;
      For more information, see &#8220;Government Regulation&#8221; for description of clinical
      stages.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;
      Licensed from the School of Pharmacy, The University of London. Subject to
      a 1%
      royalty and milestone payments on sales.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Approved
      Products</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>MuGard&#8482;
      - Mucoadhesive Liquid Technology (MLT)</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mucositis
      is a debilitating condition involving extensive inflammation of mouth tissue
      that affects annually an estimated 400,000 cancer patients in the United States
      undergoing chemotherapy and radiation treatment. Any treatment that would
      accelerate healing and/or diminish the rate of appearance of mucositis would
      have a significant beneficial impact on the quality of life of these patients
      and may allow for more aggressive chemotherapy. Access believes the potential
      addressable market for a mucositis product could be over $1 billion
      world-wide.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">100</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      MuGard&#8482; is a viscous polymer solution which provides a coating for the oral
      cavity. MuGard&#8482; is dispensed in a ready to use form. A multi-site, randomized
      clinical study was performed in the United States testing MuGard&#8482; and MuGard&#8482;
containing an anti-inflammatory drug to determine the effect of these products
      on the prevention and treatment of mucositis. The data from this trial indicated
      that the patients using MuGard&#8482; displayed a lower incidence of mucositis than is
      typically seen in the studied population with no additional benefit from the
      drug.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      data
      were retrospectively compared with two historical patient databases to evaluate
      the potential advantages MuGard&#8482; may represent in the prevention, treatment and
      management of mucositis. The patient evaluation was conducted using the oral
      mucositis assessment scale, which qualifies the disease severity on a scale
      of
      0-5. Key highlights of the comparison with the historical patient databases
      are
      as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      the average severity of the disease was reduced by approximately
      40%;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      the maximum intensity of the mucositis was approximately 35% lower;
      and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;&#160;&#160;&#160;&#160;&#160;
      the median peak intensity was approximately 50% lower.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">These
      data confirmed that fact that MuGard&#8482; could represent an important advancement
      in the management and prevention of mucositis. On September 20, 2006, Access
      announced that it had submitted a Premarket Notification 510(k) application
      to
      the United States Food and Drug Administration (FDA) announcing Access&#8217; intent
      to market MuGard&#8482;. On December 13, 2006, Access announced that it had received
      marketing clearance for MuGard&#8482; from FDA for the indication of the management of
      oral wounds including mucositis, aphthous ulcers and traumatic
      ulcers.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      is
      currently seeking marketing partners to market MuGard&#8482; in the United States and
      in other territories worldwide. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Products
      in Development Status</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>ProLindac&#8482;
      (Polymer Platinate, AP5346) DACH Platinum</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Chemotherapy,
      surgery and radiation are the major components in the clinical management of
      cancer patients. Chemotherapy serves as the primary therapy for some solid
      tumors and metastases and is increasingly used as an adjunct to radiation and
      surgery to improve their effectiveness. For chemotherapeutic agents to be
      effective in treating cancer patients, however, the agent must reach the target
      cells in effective quantities with minimal toxicity in normal
      tissues.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      current optimal strategy for chemotherapy involves exposing patients to the
      most
      intensive cytotoxic regimens they can tolerate and clinicians attempt to design
      a combination of chemotherapeutic drugs, a dosing schedule and a method of
      administration to increase the probability that cancerous cells will be
      destroyed while minimizing the harm to healthy cells. Notwithstanding
      clinicians&#8217; efforts, most current chemotherapeutic drugs have significant
      shortcomings that limit the efficacy of chemotherapy. For example, certain
      cancers are inherently unresponsive to chemotherapeutic agents. Alternatively,
      other cancers may initially respond, but subgroups of cancer cells acquire
      resistance to the drug during the course of therapy and the resistant cells
      may
      survive and cause a relapse. Serious toxicity, including bone marrow
      suppression, renal toxicity, neuropathy, or irreversible cardiotoxicity, are
      some of the limitations of current anti-cancer drugs that can prevent their
      administration in curative doses.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Oxaliplatin,
      a formulation of DACH platinum, is a chemotherapeutic which was initially
      approved in France and in Europe in 1999 for the treatment of colorectal cancer.
      It is now also being marketed in the United States and is generating worldwide
      sales in excess of $2 billion annually. Carboplatin and Cisplatin, two other
      approved platinum chemotherapy drugs, are not indicated for the treatment of
      metastatic colorectal cancer. Oxaliplatin, in combination with 5-flurouracil
      and
      folinic acid (known as the FOLFOX regime) is indicated for the first-line
      treatment of metastatic colorectal cancer in Europe and the U.S. The colorectal
      cancer market is a significant opportunity as there are over 940,000 reported
      new cases annually worldwide, increasing at a rate of approximately three
      percent per year, and 500,000 deaths.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Currently,
      platinum compounds are one of the largest selling categories of chemotherapeutic
      agents, with annual sales in excess of $3.0 billion. As is the case with all
      chemotherapeutic drugs, the use of such compounds is associated with serious
      systemic side effects. The drug development goal therefore is to enhance
      delivery of the active drug to the tumor and minimize the amount of active
      drug
      affecting normal organs in the body.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">101</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Utilizing
      a biocompatible water-soluble polymer HPMA as a drug carrier, Access&#8217; drug
      candidate ProLindac&#8482;, links DACH platinum to a polymer in a manner which permits
      the selective release of active drug to the tumor by several mechanisms,
      including taking advantage of the differential pH in tumor tissue compared
      to
      healthy tissue. The polymer also capitalizes on the biological differences
      in
      the permeability of blood vessels at tumor sites versus normal tissue. In this
      way, tumor selective delivery and platinum release is achieved. The ability
      of
      ProLindac&#8482; to inhibit tumor growth has been evaluated in more than ten
      preclinical models. Compared with the marketed product oxaliplatin, ProLindac&#8482;
showed either marked superiority or superiority in most of these models.
      Preclinical studies of the delivery of platinum to tumors in an animal model
      have shown that, compared with oxaliplatin at equitoxic doses, ProLindac&#8482;
delivers in excess of 16 times more platinum to the tumor. An analysis of tumor
      DNA, which is the main target for anti-cancer platinum agents, has shown that
      ProLindac&#8482;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>&#160;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">delivers
      approximately 14 times more platinum to tumor DNA than oxaliplatin. Results
      from
      preclinical efficacy studies conducted in the B16 and other tumor models have
      also shown that ProLindac&#8482; is superior to oxaliplatin in inhibiting the growth
      of tumors. An extensive preclinical package has been developed supporting the
      development of ProLindac&#8482;.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      2005
      Access completed a Phase I multi-center clinical study conducted in Europe,
      which enrolled 26 patients. The study was reported at the AACR-NCI-EORTC
      conference in Philadelphia in November 2005.&#160; The European trial was
      designed to identify the maximum tolerated dose, dose limiting toxicities,
      the
      pharmacokinetics of the platinum in plasma and the possible anti-tumor activity
      of ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      The
      open-label, non-randomized, dose-escalation Phase I study was performed at
      two
      European centers. ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      was
      administered as an intravenous infusion over one hour, once a week on days
      1, 8
      and 15 of each 28-day cycle to patients with solid progressive tumors. Access
      obtained results in 26 patients with a broad cross-section of tumor types,
      with
      doses ranging from 80-1,280 mg Pt/m</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>2</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Of
      the 26
      patients, 10 were not evaluable for tumor response, principally due to
      withdrawal from the study prior to completing the required cycle. Of the 16
      evaluable patients, 2 demonstrated a partial response, 1 experienced a partial
      response based on a biomarker and 4 experienced stable disease. One of the
      patients who attained a partial response had a melanoma with lung metastasis;
      a
      CT scan revealed a tumor decrease of greater than 50%. The other patient who
      responded had ovarian cancer; she had a reduction in lymph node metastasis
      and
      remission of a liver metastasis. The patient who experienced a partial response
      based on a biomarker was an ovarian cancer patient for whom CA-125 levels
      returned to normal. Also of note, a patient with cisplatin resistant cervical
      cancer showed a short lasting significant reduction in lung metastasis after
      3
      doses. However, due to toxicity, the patient could not be retreated to determine
      whether the partial response could be maintained.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has commenced a European Phase II ProLindac&#8482; trial in ovarian cancer patients
      who have relapsed after first line platinum therapy. The primary aim of the
      study is to the determine the response rate of ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      monotherapy in this patient population. The response rates for other platinum
      compounds in this indication are well known, and will be used for comparison.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has provided ProLindac</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      to the
      Moores Cancer Center at the University of California, San Diego to conduct
      a
      Phase II clinical study in patients with head and neck cancer under a
      physician-sponsored IND. The primary aim of the study is to demonstrate the
      ability of the tumor-targeting polymer system to deliver more platinum to tumors
      than can be attained with oxaliplatin, the approved DACH platinum compound.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has submitted an IND application to the US Food and Drug Administration, and
      has
      received clearance from the agency to proceed with a Phase I clinical study
      of
      ProLindac in combination with fluorouracil and leucovorin. The study is designed
      to evaluate the safety of the ProLindac in combination with two standard drugs
      used to treat colorectal cancer and to establish a safe dose for Phase II
      clinical studies of this combination in colorectal cancer. Acess is currently
      evaluating whether clinical development of ProLindac in this indication might
      proceed more rapidly by utilizing an alternative clinical strategy and/or
      conducting studies in the US and/or elsewhere in the world.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Results
      of Operations</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>First
      Quarter 2007 Compared to First Quarter 2006</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
      research spending for the first quarter of 2007 was $413,000, as compared to
      $756,000 for the same period in 2006, a decrease of $343,000. The decrease
      in
      expenses was primarily due to the following: </font></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">lower
                costs for product manufacturing for ProLindac&#8482; ($247,000). Product
                manufacturing was completed early in 2006 which Access believes is
                adequate to supply drug product for all of Access&#8217; current ovarian cancer
                trial;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">lower
                costs of clinical trials for ProLindac&#8482; ($137,000). Access incurred
                start-up costs for the clinical trial in early 2006;
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
                net decreases ($8,000).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">102</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      decrease in research spending is partially offset by higher salary and related
      cost due to the hiring of additional scientific staff ($49,000).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
      general and administrative expenses were $1,139,000 for the first quarter of
      2007, an increase of $473,000 as compared to the same period in 2006. The
      increase in spending was due primarily to the following: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">higher
                salary related expenses due to stock option expenses
                ($203,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">higher
                investor relations expenses ($133,000) due to Access&#8217; increased investor
                relations efforts;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">increased
                salary and related expenses due to the hiring of a business development
                officer ($47,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">higher
                franchise taxes ($34,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">higher
                patent costs ($28,000); and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 63pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">by
                other net increases ($28,000).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
      and amortization was $75,000 for the first quarter of 2007 as compared to
      $77,000 for the same period in 2006 reflecting a decrease of $2,000. The
      decrease in depreciation and amortization was due to assets becoming fully
      depreciated.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
      operating expenses in the first quarter of 2007 were $1,627,000 as compared
      to
      total operating expenses of $1,499,000 for the same period in 2006 an increase
      of $128,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
      and miscellaneous income was $35,000 for the first quarter of 2007 as compared
      to $92,000 for the same period in 2006, a decrease of $57,000. The decrease
      in
      interest income was due to accretion of the receivable due from Uluru that
      was
      recorded in 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
      and other expense was $2,535,000 for the first quarter of 2007 as compared
      to
      $1,299,000 the same period in 2006, an increase of $1,236,000. The increase
      in
      interest and other expense was due to amortization of the discount on the Oracle
      convertible notes and the amortization of the SCO notes.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      2006
      there was an unrealized loss on fair value of warrants of $2,150,000 due to
      the
      warrants issued to SCO and affiliates. Access changed its accounting for the
      warrants in the fourth quarter of 2006 and there are no unrealized losses or
      gains in 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
      loss
      in the first quarter of 2007 was $4,127,000, or a $1.17 basic and diluted loss
      per common share, compared with a loss of $4,856,000, or a $1.38 basic and
      diluted loss per common share for the same period in 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Comparison
      of Years Ended December 31, 2006 and 2005</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      total research spending for continuing operations for the year ended December
      31, 2006 was $2,053,000, as compared to $2,783,000 in 2005, a decrease of
      $730,000. The decrease in expenses was the result of Phase II clinical trial
      start-up costs, including manufacturing costs for ProLindac&#8482; in 2005 whereas
      2006 costs were primarily clinical trial costs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      total general and administrative expenses were $2,813,000 for 2006, a decrease
      of $1,825,000 over 2005 expenses of $4,638,000, due to lower: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Salary
                expenses due to the separation agreement in 2005 with its former
                CEO
                ($909,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Professional
                fees for investment strategies and fairness opinions in 2005
                ($397,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Legal
                fees ($313,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patent
                and license fees ($194,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rent
                ($113,000); </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Compensation
                paid to Chairman in 2005 ($140,000)
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
                net decreases ($41,000).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">103</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      decrease in general and administrative expenses is offset partially by
      higher:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Salary
                related costs due to the expensing of stock options ($180,000);
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Investor/public
                relations fees ($102,000).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
      and amortization was $309,000 in 2006 as compared to $333,000 in 2005, a
      decrease of $24,000 due to the lower depreciation expense.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      2005
      Access wrote off its goodwill of $1,868,000 following an impairment
      analysis.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      loss from operations in 2006 was $5,175,000 as compared to a loss of $9,622,000
      in 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
      and miscellaneous income was $294,000 for 2006 as compared to $100,000 for
      2005,
      an increase of $194,000, relating to interest recognized on the Uluru receivable
      and higher cash balances in 2006 as compared with 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
      and other expense was $7,436,000 for 2006 as compared to $2,100,000 for the
      same
      period in 2005, an increase of $5,336,000. The increase was due to amortization
      of the discount of the Secured Convertible Notes and to amortization of the
      discount on the extension of a convertible note.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      had $550,000 less $173,000 tax expense&#160;in 2006 in milestone revenues from
      its oral care assets that Access sold to Uluru, Inc. due to the amended 2005
      Asset Sale Agreement. Access had no milestone revenues in 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Secured Convertible Notes include warrants and a conversion feature. Until
      September 30, 2006 Access accounted for the warrants and conversion feature
      as
      liabilities and recorded at fair value. From the date of issuance to September
      30, 2006, the fair value of these instruments increased resulting in a net
      unrealized loss of $1.1 million. On October&#160;1, 2006, Access adopted the
      provisions of Financial Accounting Standards Board Staff Position EITF No.
      00-19-2, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Accounting
      for Registration Payment Arrangements&#8221; </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(EITF
      00-19-2), which requires that contingent obligations to make future payments
      under a registration payment arrangement be recognized and measured separately
      in accordance with SFAS No.&#160;5, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Accounting
      for Contingencies.&#8221;</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      Under
      previous guidance, the fair value of the warrant was recorded as a current
      liability in Access&#8217; balance sheet, due to a potential cash payment feature in
      the warrant. The current liability was marked-to-market at each quarter end,
      using the Black-Scholes option-pricing model, with the change being recorded
      to
      general and administrative expenses. Under the new guidance in EITF 00-19-2,
      as
      Access believes the likelihood of such a cash payment to not be probable, Access
      has not recognized a liability for such obligations. Accordingly, a
      cumulative-effect adjustment of $1.4 million was made as of October&#160;1, 2006
      to accumulated deficit, representing the difference between the initial value
      of
      this warrant and its fair value as of this date and recorded to equity.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
      loss
      for 2006 was $12,874,000, or $3.65 basic and diluted loss per common share
      compared with a loss of $1,700,000, or a $0.53 basic and diluted loss per common
      share, for 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Comparison
      of Years Ended December 31, 2005 and 2004</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      total research spending for continuing operations for the year ended December
      31, 2005 was $2,783,000, as compared to $2,335,000 in 2004, an increase of
      $448,000. The increase in expenses was the result of Phase II start-up costs
      including manufacturing and clinical costs for ProLindac&#8482; clinical trials
      ($674,000) and other net costs ($20,000) offset by lower salary costs due to
      cutbacks in scientific staff ($246,000).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      total general and administrative expenses were $4,638,000 for 2005, an increase
      of $1,439,000 over 2004 expenses of $3,199,000, due to: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expenses
                due to the separation agreement with Access&#8217; former CEO
                ($909,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Professional
                fees for investment banking and financing decisions
                ($397,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Higher
                legal fees due to changes in Access&#8217; convertible debt and legal fees
                associated with merger candidates ($161,000);
                and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Royalty
                license fee ($150,000).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">104</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      increases in general and administrative expenses is offset by:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lower
                investor relations costs ($90,000);</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lower
                patent expenses ($61,000); and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="71%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lower
                net other increases ($27,000).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
      and amortization was $333,000 in 2005 as compared to $469,000 in 2004, a
      decrease of $136,000 due to the impairment of a license which is no longer
      effective ($109,000) plus lower depreciation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition Access wrote off its goodwill in 2005 of $1,868,000 following an
      impairment analysis.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      loss from operations in 2005 was $9,622,000 as compared to a loss of $6,003,000
      in 2004.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
      and miscellaneous income was $100,000 for 2005 as compared to $226,000 for
      2004,
      a decrease of $126,000, relating to interest income due to lower cash balances
      in 2005 as compared with 2004.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
      and miscellaneous expense was $2,100,000 for 2005 as compared to $1,385,000
      for
      the same period in 2004, an increase of $715,000. The increase was due to
      repayment of the secured convertible notes and contractually accelerated
      interest and penalty and due to amortization of the discount on the extension
      on
      of the convertible note.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
      loss
      for 2005 was $1,700,000, or a $0.53 basic and diluted loss per common share
      compared with a loss of $10,238,000, or a $3.38 basic and diluted loss per
      common share, for 2004.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Discontinued
      Operations</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      October 2005 Access sold its oral/topical care business to Uluru, Inc. for
      a
      gain of $12,891,000 less $4,067,000 tax expense and Access closed down its
      Australian operations. The loss from its discontinued operations of its
      oral/topical care business and its Australian operation was
      $2,969,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Liquidity
      and Capital Resources</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      funded its operations primarily through private sales of common stock and
      convertible notes and its principal source of liquidity is cash and cash
      equivalents. Contract research payments, licensing fees and milestone payments
      from corporate alliances and mergers have also provided funding for operations.
      </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      of
      March 31, 2007 Access&#8217; cash and cash equivalents and short-term investments were
      $3,083,000 and its net cash burn rate for the three months ending March 31,
      2007
      was approximately $435,000 per month. Access&#8217; working capital deficit was
      $9,302,000. Access&#8217; working capital at March 31, 2006 represented a decrease of
      $3,520,000 as compared to its working capital deficit as of December 31, 2006
      of
      $5,782,000. Access&#8217; working capital is negative reflecting approximately $10.9
      million of debt that becomes due prior to March 31, 2008 and $899,000 of accrued
      interest payments accrued at March 31, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      of
      March 31, 2007, Access did not have enough capital to achieve its long-term
      goals. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">105</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      does not have sufficient funds to repay its convertible notes at their maturity.
      Access may not be able to restructure the convertible notes or obtain additional
      financing to repay them on terms acceptable to Access, if at all. If Access
      raises additional funds by selling equity securities, the relative equity
      ownership of Access&#8217; existing investors would be diluted and the new investors
      could obtain terms more favorable than previous investors. A failure to
      restructure its convertible notes or obtain additional funding to repay the
      convertible notes and support its working capital and operating requirements,
      could cause Access to be in default of its convertible notes and prevent Access
      from making expenditures that are needed to allow Access to maintain its
      operations. A failure to restructure its existing convertible notes or obtain
      necessary additional capital in the future could jeopardize its
      operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has generally incurred negative cash flows from operations since inception,
      and
      has expended, and expects to continue to expend in the future, substantial
      funds
      to complete its planned product development efforts. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Since
      inception, its expenses have significantly exceeded revenues, resulting in
      an
      accumulated deficit as of March 31, 2007 of $81,799,000. </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      expects that its capital resources will be adequate to fund its current level
      of
      operations for just over six months, excluding any obligation to repay the
      convertible notes and the debt service on the convertible notes, which at this
      time Access does not have the ability to pay</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>.</em></strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      cannot assure you</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
      it
      will ever be able to generate significant product revenue or achieve or sustain
      profitability. Access currently does not have the cash resources to repay its
      debt obligations due in June and September 2007. Access plans to satisfy its
      obligations under the notes either through conversion of the notes into equity
      or through the sale of equity. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      shares and per share information reflect a one for five reverse stock split
      effected June 5, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>SCO
      Capital Partners LLC - Notes and Warrants</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December 6, 2006, Access entered into a secured note and warrant purchase
      agreement pursuant to which Access sold and issued an aggregate of $500,000
      of
      7.5% convertible notes now due June 11, 2007 and warrants to purchase 386,364
      shares of common stock of Access. Net proceeds to Access were $450,000. The
      notes and warrants were sold in a private placement to a group of accredited
      investors led by SCO and affiliates. Each noteholder received a warrant to
      purchase a number of shares of common stock of Access equal to 75% of the total
      number shares of Access common stock into which such holder's note is
      convertible. Each warrant has an exercise price of $1.32 per share and is
      exercisable at any time prior to December 6, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October 24, 2006, Access entered into a secure note and warrant purchase
      agreement pursuant to which Access sold and issued an aggregate of $500,000
      of
      7.5% convertible notes now due June 11, 2007 and warrants to purchase 386,364
      shares of common stock of Access. Net proceeds to Access were $450,000. The
      notes and warrants were sold in a private placement to a group of accredited
      investors led by SCO and affiliates. Each noteholder received a warrant to
      purchase a number of shares of common stock of Access equal to 75% of the total
      number shares of Access common stock into which such holder's note is
      convertible. Each warrant has an exercise price of $1.32 per share and is
      exercisable at any time prior to October 24, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 16, 2006, Access entered into a secured note and warrant purchase
      agreement pursuant to which Access sold and issued an aggregate of $5,000,000
      of
      7.5% convertible notes now due June 11, 2007 and warrants to purchase an
      aggregate of 3,863,634 shares of common stock of Access. Net proceeds to Access
      were $4.5 million after offering costs of approximately $500,000, which are
      being amortized to interest expense over the term of the debt. The notes and
      warrants were sold in a private placement to a group of accredited investors
      led
      by SCO and its affiliates. Each noteholder received a warrant to purchase a
      number of shares of common stock of Access equal to 75% of the total number
      shares of Access common stock into which such holder's note is convertible.
      Each
      warrant has an exercise price of $1.32 per share and is exercisable at any
      time
      prior to February 16, 2012.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      the
      secured notes mature on June 11, 2007, are convertible into Access common stock
      at a fixed conversion rate of $1.10 per share, bear interest of 7.5% per annum
      and are secured by the assets of Access. Each note may be converted at the
      option of the noteholder or Access under certain circumstances as set forth
      in
      the notes. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      event SCO and its affiliates were to convert all of their notes and exercise
      all
      of their warrants, it would own approximately 74.1% of the voting securities
      of
      Access. Access may be required to pay in cash, up to 2% per month, as defined,
      as liquidated damages for failure to file and keep effective a registration
      statement timely as required by investor rights agreements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">106</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
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        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with the sale and issuance of notes and warrants, Access entered
      into
      an investors rights agreement whereby it granted SCO the right to designate
      two
      individuals to serve on the Board of Directors of Access while the notes are
      outstanding, and also granted registration rights with respect to the shares
      of
      common stock of Access underlying the notes and warrants. SCO designated Jeffrey
      B. Davis and Mark J. Alvino to the Board of Directors, and on March 13, 2006
      Messrs. Davis and Alvino were appointed to the Board of Directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Uluru,
      Inc. - Sale of Oral/Topical Care Assets</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December 8, 2006 Access amended its 2005 Asset Sale Agreement with Uluru, Inc.
      Access received from Uluru an upfront payment of $4.9 million at the time of
      the
      amendment, received an additional $350,000 on April 9, 2007 and in the future
      could receive potential milestones of up to $4.8 million based on Uluru sales.
      The amendment agreement included the anniversary payment due October 12, 2006,
      the early payment of the two year anniversary payment, and a payment in
      satisfaction of certain future milestones. Access also transferred to Uluru
      certain patent applications that Access had previously licensed to Uluru under
      the 2005 License Agreement. Under a new agreement, Access has acquired a license
      from Uluru to utilize the nanoparticle aggregate technology contained in the
      transferred patent applications for subcutaneous, intramuscular,
      intra-peritoneal and intra-tumoral drug delivery. Additionally, one future
      milestone was increased by $125,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Other
      Convertible Notes</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">One
      holder of $4 million worth of 7.7% convertible notes (Oracle Partners LP and
      related funds) has amended their notes to a new maturity date, initially to
      April 28 (and subsequently to June 12, 2007), with the conversion price being
      reduced from $27.50 per share to $5.00 per share. In addition, Access may cause
      a mandatory conversion of the notes into common stock if the common stock trades
      at a price of at least 1.5 times the conversion price for a minimum number
      of
      trading days. There is also a provision to allow for a minimum price for
      conversion in the event of a change of control of Access. This modification
      resulted in Access recording additional debt discount of $2.1 million, which
      will be accreted to interest expense to the revised maturity date. At March
      31,
      2007, there is $100,000 of debt discount remaining.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Another
      noteholder, holding $5.5 million worth of 7.7% convertible notes has amended
      their note to a new maturity date, September 13, 2010 and elected to have the
      2005 and 2006 interest of $880,000 to be paid on September 13, 2007 or earlier
      if Access receives $5.0 million of new funds. The delayed interest will earn
      interest at a rate of 10.0%.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Since
      Access&#8217; inception, Access has devoted its resources primarily to fund its
      research and development programs. Access has been unprofitable since inception
      and to date has received limited revenues from the sale of products. Access
      cannot assure you that Access will be able to generate sufficient product
      revenues to attain profitability on a sustained basis or at all. Access expects
      to incur losses for the next several years as Access continues to invest in
      product research and development, preclinical studies, clinical trials and
      regulatory compliance. As of March 31, 2007, Access&#8217; accumulated deficit was
      $81,799,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Cornell
      Capital Partners Standby Equity Distribution Agreement and Securities Purchase
      Agreement</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      March
      30, 2005 Access executed a Standby Equity Distribution Agreement (SEDA) with
      Cornell Capital Partners. Under the SEDA, Access could issue and sell to Cornell
      Capital Partners common stock for a total purchase price of up to $15,000,000.
      The purchase price for the shares is equal to their market price, which was
      defined in the SEDA as 98% of the lowest volume weighted average price of the
      common stock during a specified period of trading days following the date notice
      is given by Access that it desires to access the SEDA. Further, Access agreed
      to
      pay Cornell Capital Partners 3.5% of the proceeds that Access receives under
      the
      Equity Line of Credit. The amount of each draw down was subject to a maximum
      amount of $1,000,000. The terms of the SEDA did not allow Access to make draw
      downs if the draw down would cause Cornell Capital to own in excess of 9.9%
      of
      Access&#8217; outstanding shares of common stock. Upon closing of the transaction,
      Cornell Capital Partners received a one-time commitment fee of 146,500 shares
      of
      Access&#8217; common stock. On the same date, Access entered into a Placement Agent
      Agreement with Newbridge Securities Corporation, a registered broker-dealer.
      Pursuant to the Placement Agent Agreement, upon closing of the transaction
      Access paid a one-time placement agent fee of 3,500 shares of common stock.
      The
      shares issued were valued at $500,000 and recorded as Debt issuance costs and
      such costs are amortized as the SEDA is accessed. As of December 31, 2006 Access
      accessed $600,000 of the SEDA and $20,000 of the debt issuance costs were
      charged to additional paid-in capital and $384,000 of the issuance costs have
      been charged to interest expense. The SEDA expired March 30, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">107</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      </div>
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        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, on March 30, 2005, Access executed a Securities Purchase Agreement
      with Cornell Capital Partners and Highgate House Funds. Under the Securities
      Purchase Agreement, Cornell Capital Partners and Highgate House Funds purchased
      an aggregate of $2,633,000 principal amount of Secured Convertible Debentures
      from Access (net proceeds to Access of $2,360,000). The Secured Convertible
      Debentures accrue interest at a rate of 7% per year and were to mature 12 months
      from the issuance date with scheduled monthly repayment commencing on November
      1, 2005 to the extent that the Secured Convertible Debenture had not been
      converted to common stock. The Secured Convertible Debenture was convertible
      into Access&#8217; common stock at the holder's option any time up to maturity at a
      conversion price equal to $20.00. The Secured Convertible Debentures were
      secured by all of the assets of Access. Access had the right to redeem the
      Secured Convertible Debentures upon 3 business days notice for 110% of the
      amount redeemed. Pursuant to the Securities Purchase Agreement, Access issued
      to
      the holders an aggregate of 50,000 shares of common stock of Access. The Secured
      Convertible Notes were paid in full on October 12, 2005 in conjunction with
      the
      sale of its oral care assets.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has generally incurred negative cash flows from operations since inception,
      and
      has expended, and expect to continue to expend in the future, substantial funds
      to complete its planned product development efforts. Since inception, Access&#8217;
expenses have significantly exceeded revenues, resulting in an accumulated
      deficit as of December 31, 2006 of $77,672,000. Access expects that its capital
      resources as of March 31, 2007, together with receivables will be adequate
      to
      fund its current level of operations for seven months, excluding any obligation
      to repay the convertible notes and the debt service on the convertible notes,
      which at this time Access does not have the ability to pay</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>.</em></strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      cannot assure you</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">that
      Access will ever be able to generate significant product revenue or achieve
      or
      sustain profitability. Access currently does not have the cash resources to
      repay its debt obligations due in March, April and September 2007. Either
      through conversion of its debt to equity or its financing plan through the
      sales
      of equity are expected to provide the resources to repay such notes.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      plans to expend substantial funds to conduct research and development programs,
      preclinical studies and clinical trials of potential products, including
      research and development with respect to its acquired and developed technology.
      Access&#8217; future capital requirements and adequacy of available funds will depend
      on many factors, including:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                successful development and commercialization of ProLindac&#8482;, MuGard&#8482; and
                Access&#8217; other product candidates;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability to convert, repay or restructure Access&#8217; outstanding convertible
                notes and debentures;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability to merge with Somanta Pharmaceuticals, Inc. and integrate
                their
                assets and programs with Access&#8217;;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability to establish and maintain collaborative arrangements with
                corporate partners for the research, development and commercialization
                of
                products; </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">continued
                scientific progress in Access&#8217; research and development
                programs;</font></div>
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          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                magnitude, scope and results of preclinical testing and clinical
                trials;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                costs involved in filing, prosecuting and enforcing patent
                claims;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                costs involved in conducting clinical
                trials;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">competing
                technological developments;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                cost of manufacturing and scale-up;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                ability to establish and maintain effective commercialization arrangements
                and activities; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;
                </font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">successful
                regulatory filings.</font></div>
            </td>
          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has devoted substantially all of its efforts and resources to research and
      development conducted on its own behalf. The following table summarizes research
      and development spending by project category (in thousands), which spending
      includes, but is not limited to, payroll and personnel expense, lab supplies,
      preclinical expense, development cost, clinical trial expense, outside
      manufacturing expense and consulting expense:</font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">108</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="29%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;(in
                thousands)</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="5" valign="bottom" width="30%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Twelve
                month ended&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="14%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Inception
                to </font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="29%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="5" valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Date
                (1)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="29%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Project</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>2006</u></font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>2005</u></font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="29%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Polymer
                Platinate</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(ProLindac&#8482;)</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,043</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,653</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">19,654</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="29%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mucoadhesive
                Liquid</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Technology
                (MLT)</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,490</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="29%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Others
                (2)</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">130</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,044</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="29%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,053</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,783</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">26,188</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cumulative
                spending from inception of Access or project through December 31,
                2006.</font></div>
            </td>
          </tr>
          <tr>
            <td align="right" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                following projects are among the ones included in this line item:
                Vitamin
                Mediated Targeted Delivery, carbohydrate targeting, amlexanox cream
                and
                gel and other related projects.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Due
      to
      uncertainties and certain of the risk factors described above, including those
      relating to Access&#8217; ability to successfully commercialize its drug candidates,
      its ability to obtain necessary additional capital to fund operations in the
      future, its ability to successfully manufacture its products and its product
      candidates in clinical quantities or for commercial purposes, government
      regulation to which Access is subject, the uncertainty associated with
      preclinical and clinical testing, intense competition that Access faces, market
      acceptance of its products and protection of its intellectual property, it
      is
      not possible to reliably predict future spending or time to completion by
      project or product category or the period in which material net cash inflows
      from significant projects are expected to commence. If Access is unable to
      timely complete a particular project, its research and development efforts
      could
      be delayed or reduced, Access&#8217; business could suffer depending on the
      significance of the project and Access might need to raise additional capital
      to
      fund operations, as discussed in the risk factors above, including without
      limitation those relating to the uncertainty of the success of Access&#8217; research
      and development activities and its ability to obtain necessary additional
      capital to fund operations in the future. As discussed in such risk factors,
      delays in Access&#8217; research and development efforts and any inability to raise
      additional funds could cause Access to eliminate one or more of its research
      and
      development programs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      plans to continue its policy of investing any available funds in certificates
      of
      deposit, money market funds, government securities and investment-grade
      interest-bearing securities. Access does not invest in derivative financial
      instruments.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Critical
      Accounting Policies and Estimates</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      preparation of Access&#8217; consolidated financial statements in conformity with
      accounting principles generally accepted in the United State of America requires
      Access to make estimates and assumptions that affect the reported amounts of
      assets and liabilities, disclosure of contingent assets and liabilities at
      the
      date of the financial statements and the reported amount of revenues and
      expenses during the reported period. In applying its accounting principles,
      Access must often make individual estimates and assumptions regarding expected
      outcomes or uncertainties. As you might expect, the actual results or outcomes
      are often different than the estimated or assumed amounts. These differences
      are
      usually minor and are included in Access&#8217;consolidated financial statements as
      soon as they are known. Access&#8217; estimates, judgments and assumptions are
      continually evaluated based on available information and experience. Because
      of
      the use of estimates inherent in the financial reporting process, actual results
      could differ from those estimates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Asset
      Impairment</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January&#160;1, 2002, Access adopted SFAS 142, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Goodwill
      and Other Intangible Assets.&#8221; </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Upon
      adoption, Access performed a transitional impairment test on its recorded
      intangible assets that consisted primarily of acquisition related goodwill
      and
      license intangibles. Access also performed an annual impairment test in the
      fourth quarter of 2005. The analysis compared Access&#8217; market capitalization with
      net asset value resulting in an impairment charge in 2005 of $1,868,000.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      intangible assets at December&#160;31, 2006 consist primarily of patents
      acquired in acquisitions and licenses which were recorded at fair value on
      the
      acquisition date. Access performs an impairment test on at least an annual
      basis
      or when indications of impairment exist. At December 31, 2006, Management
      believes no impairment of Access&#8217; intangible assets exists.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">109</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Based
      on
      an assessment of Access&#8217; accounting policies and underlying judgments and
      uncertainties affecting the application of those policies, Access believe that
      its consolidated financial statements provide a meaningful and fair perspective
      of Access. Access does not suggest that other general factors, such as those
      discussed elsewhere in this report, could not adversely impact its consolidated
      financial position, results of operations or cash flows. The impairment test
      involves judgment on the part of management as to the value of goodwill,
      licenses and intangibles.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Stock
      Based Compensation Expense</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January&#160;1, 2006, Access adopted SFAS No.&#160;123 (revised 2004),
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Share-Based
      Payment</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,&#8221;
(&#8220;SFAS
      123(R)&#8221;), which requires the measurement and recognition of all share-based
      payment awards made to employees and directors including stock options based
      on
      estimated fair values. SFAS 123(R) supersedes Access&#8217; previous accounting under
      Accounting Principles Board (&#8220;APB&#8221;) Opinion No.&#160;25, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Accounting
      for Stock Issued to Employees</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;
(&#8220;APB
      25&#8221;), for periods beginning in fiscal year 2006. In March 2005, the Securities
      and Exchange </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Commission
      issued Staff Accounting Bulletin No.&#160;107 (&#8220;SAB 107&#8221;) relating to SFAS
      123(R). Access applied the provisions of SAB 107 in its adoption of SFAS 123(R).
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      adopted SFAS 123(R) using the modified prospective transition method, which
      requires the application of the accounting standard as of January&#160;1, 2006,
      the first day of Access&#8217; 2006 fiscal year. Access&#8217; consolidated financial
      statements for the year ended December&#160;31, 2006, reflect the impact of SFAS
      123(R). In accordance with the modified prospective transition method, Access&#8217;
consolidated financial statements for prior periods have not been restated
      to
      include the impact of SFAS 123(R). Stock-based compensation expense recognized
      under SFAS 123(R) for the year ended December&#160;31, 2006 was approximately
      $248,000. Stock-based compensation expense which would have been recognized
      under the fair value based method would have been approximately $750,000 during
      the year ended December&#160;31, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">SFAS
      123(R) requires companies to estimate the fair value of share-based payment
      awards on the date of grant using an option-pricing model. The value of the
      portion of the award that is ultimately expected to vest is recognized as
      expense over the requisite service period in the company&#8217;s Statement of
      Operations. Prior to the adoption of SFAS 123(R), Access accounted for
      stock-based awards to employees and directors using the intrinsic value method
      in accordance with APB No.&#160;25 as allowed under SFAS No.&#160;123,
&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Accounting
      for Stock-Based Compensation</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;
(&#8220;SFAS
      123&#8221;). Under the intrinsic value method, no stock-based compensation expense for
      stock option grants was recognized because the exercise price of Access&#8217; stock
      options granted to employees and directors equaled the fair market value of
      the
      underlying stock at the date of grant. In 2005, Access did recognize stock
      compensation expense for restricted stock awards based on the fair value of
      the
      underlying stock on date of grant and this expense was amortized over the
      requisite service period. There were no restricted stock awards granted in
      2006
      and therefore no stock compensation expense is recognized in 2006 for these
      awards.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock-based
      compensation expense recognized in Access&#8217; Statement of Operations for the first
      year ended December 31, 2006 includes compensation expense for share-based
      payment awards granted prior to, but not yet vested as of December&#160;31,
      2005, based on the grant date fair value estimated in accordance with the pro
      forma provisions of SFAS 123 and compensation expense for the share-based
      payment awards granted subsequent to December 31, 2005, based on the grant
      date
      fair value estimated in accordance with the provisions of SFAS 123(R).
      Stock-based compensation expense recognized in the Company&#8217;s Statement of
      Operations for the year ended December 31, 2006 is based on awards ultimately
      expected to vest and has been reduced for estimated forfeitures, which currently
      is nil. SFAS 123(R) requires forfeitures to be estimated at the time of grant
      and revised, if necessary, in subsequent periods if actual forfeitures differ
      from those estimates. In Access&#8217; pro forma information required under SFAS 123
      for periods prior to fiscal year 2006, forfeitures have been accounted for
      as
      they occurred. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      uses the Black-Scholes option-pricing model (&#8220;Black-Scholes&#8221;) as its method of
      valuation under SFAS 123(R) in fiscal year 2006 and a single option award
      approach. This fair value is then amortized on a straight-line basis over the
      requisite service periods of the awards, which is generally the vesting period.
      Black-Scholes was also previously used for Access&#8217; pro forma information
      required under SFAS 123 for periods prior to fiscal year 2006. The fair value
      of
      share-based payment awards on the date of grant as determined by the
      Black-Scholes model is affected by Access&#8217; stock price as well as other
      assumptions. These assumptions include, but are not limited to the expected
      stock price volatility over the term of the awards, and actual and projected
      employee stock option exercise behaviors. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">110</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Recent
      Accounting Pronouncements</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      September 2006, the FASB issued Statement of Financial Accounting Standards
      No.&#160;157, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Fair
      Value Measurements&#8221;</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      (SFAS&#160;157). SFAS&#160;157 defines fair value, establishes a framework for
      measuring fair value in accordance with generally accepted accounting
      principles, and expands disclosures about fair value measurements. SFAS&#160;157
      is effective for fiscal years beginning after November&#160;15, 2007. Access is
      evaluating the potential impact of the implementation of SFAS&#160;157 on its
      financial position and results of operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      June
      2006, the FASB issued FASB Interpretation No.&#160;48, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Accounting
      for Income Tax Uncertainties</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;
      (FIN&#160;48). FIN&#160;48 defines the threshold for recognizing the benefits of
      tax return positions in the financial statements as &#8220;more-likely-than-not&#8221; to be
      sustained by the taxing authority. The recently issued literature also provides
      guidance on the derecognition, measurement and classification of income tax
      uncertainties, along with any related interest and penalties. FIN&#160;48 also
      includes guidance concerning accounting for income tax uncertainties in interim
      periods and increases the level of disclosures associated with any recorded
      income tax uncertainties. FIN&#160;48 is effective for Access as of
      January&#160;1, 2007. Any differences between the amounts recognized in the
      balance sheets prior to the adoption of FIN&#160;48 and the amounts reported
      after adoption will be accounted for as a cumulative-effect adjustment recorded
      to the beginning balance of retained earnings. Access is evaluating the
      potential impact of the implementation of FIN&#160;48 on its financial position
      and results of operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Off-Balance
      Sheet Transactions</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">None</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><u>Contractual
      Obligations </u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      contractual obligations as of December 31, 2006 are set forth
      below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="75%">

          <tr>
            <td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="11" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Payment
                Due by Period</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="20%">
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Less
                Than 1 </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Year</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1-4
                Years</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Long-Term
                Debt</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Obligations</font></div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">16,395,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10,895,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,422,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,151,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,271,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lease
                Obligations</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">135,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">92,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">43,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="20%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18,952,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12,138,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,814,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>QUANTITATIVE
      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      invests any excess cash in certificates of deposit, corporate securities with
      high quality ratings, and U.S. government securities. These investments are
      not
      held for trading or other speculative purposes. These financial investment
      securities all mature in 2007 and their estimated fair value approximates cost.
      Changes in interest rates affect the investment income Access earns on its
      investments and, therefore, impact Access&#8217; cash flows and results of operations.
      A hypothetical 50 basis point decrease in interest rates would result in a
      decrease in annual interest income and a corresponding increase in net loss
      of
      approximately $2,000. The estimated effect assumes no changes in Access&#8217;
short-term investments from December 31, 2006. Access does not believe that
      Access is exposed to any market risks, as defined. Access is not exposed to
      risks for changes in commodity prices, or any other market risks. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="Item8_Changes_in_and_"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>CHANGES
      IN AND DISAGREEMENTS </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>WITH
      ACCOUNTANTS ON ACCOUNTING AND</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>FINANCIAL
      DISCLOSURE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Grant
      Thornton LLP ("Grant Thornton") was previously the principal accounts for
      Access. On September 15, 2006, Grant Thornton resigned as Access&#8217; independent
      registered public accounting firm.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">111</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with the audits of fiscal years ended December 31, 2005 and 2004
      and
      the subsequent interim period through September 15, 2006, (i) there have been
      no
      disagreements with Grant Thornton on any matter of accounting principles or
      practices, financial statement disclosure or auditing scope or procedure, which
      disagreement(s), if not resolved to Grant Thornton's satisfaction, would have
      caused Grant Thornton to make reference to the subject matter of the
      disagreement(s) in connection with its reports for such year, and (ii) there
      were no "reportable events" as such term is defined in Item 304(a)(1)(v) of
      Regulation S-K. However, as reported in Access&#8217; Form 10-K for the year ended
      December 31, 2005, Grant Thornton has communicated to Access&#8217; audit committee
      the existence of material weaknesses in Access&#8217; system of internal control over
      financial reporting related to the inadequacy of staffing and a lack of
      segregation of duties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Grant
      Thornton's reports did not contain an adverse opinion or disclaimer of opinion,
      but the 2005 report was modified to include an explanatory paragraph related
      to
      uncertainties about Access&#8217; ability to continue as a going concern.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effective
      September 20, 2006, the Audit Committee of the Board of Directors of Access
      Pharmaceuticals, Inc. (the &#8220;Company&#8221;) approved the engagement of Whitley Penn
      LLP (&#8220;Whitley Penn&#8221;) as its independent registered public accounting firm to
      audit Access&#8217; financial statements for the year ended December 31, 2006. On
      October 2, 2006, Whitley Penn formally advised Access that it was accepting
      the
      position as Access&#8217; independent registered public accounting firm for the year
      ending December 31, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
      the years ended December 31, 2005 and 2004, and the interim period through
      October 2, 2006, Whitley Penn has not been engaged as an independent registered
      public accounting firm to audit either the financial statements of Access or
      any
      of its subsidiaries, nor has Access or anyone acting on its behalf consulted
      with Whitley Penn regarding: (i) the application of accounting principles to
      a
      specified transaction, either completed or proposed, or the type of audit
      opinion that might be rendered on Access&#8217; financial statements; or (ii) any
      matter that was the subject of a disagreement or reportable event as set forth
      in Item 304(a)(2)(ii) of Regulation S-K.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">112</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>INDEX
      TO ACCESS FINANCIAL STATEMENTS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ACCESS
      PHARMACEUTICALS, INC. AND SUBSIDIARIES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Table
      of
      Contents</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
      31, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">FINANCIAL
                INFORMATION</font></div>
            </td>
            <td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Page</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Report
                of Independent Registered Public Accounting Firm</font></div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">114</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">&#160;</td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Report
                of Independent Registered Public Accounting Firm</font></div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">115</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Consolidated
                Balance Sheets at December 31, 2006 and 2005</font></div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">116</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Consolidated
                Statements of Operations and Comprehensive Loss for 2006, 2005 and
                2004</font></div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">117</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Consolidated
                Statements of Stockholders&#8217; Equity (Deficit) for 2006, 2005 and
                2004</font></div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">118</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Consolidated
                Statements of Cash Flows for 2006, 2005 and 2004</font></div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">120</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Notes
                to Consolidated Financial Statements </font></div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">122</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">113</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Report
      of Independent Registered Public Accounting Firm</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
      the
      Board of Directors and Stockholders of Access Pharmaceuticals, Inc. and
      Subsidiaries</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have
      audited the accompanying consolidated balance sheet of Access Pharmaceuticals,
      Inc. and Subsidiaries, as of December 31, 2006, and the related consolidated
      statements of operations, changes in stockholders&#8217; deficit, and cash flows for
      the year then ended. These financial statements are the responsibility of the
      Company&#8217;s management. Our responsibility is to express an opinion on these
      financial statements based on our audit. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      conducted our audit in accordance with the standards of the Public Company
      Accounting Oversight Board (United States). Those standards require that we
      plan
      and perform the audit to obtain reasonable assurance about whether the financial
      statements are free of material misstatement. The Company is not required to
      have, nor were we engaged to perform, an audit of its internal control over
      financial reporting. An audit includes consideration of internal control over
      financial reporting as a basis for designing audit procedures that are
      appropriate in the circumstances, but not for the purpose of expressing an
      opinion on the effectiveness of the Company's internal control over financial
      reporting. Accordingly, we express no such opinion. An audit also includes
      examining, on a test basis, evidence supporting the amounts and disclosures
      in
      the financial statements, assessing the accounting principles used and
      significant estimates made by management, as well as evaluating the overall
      financial statement presentation. We believe that our audit provides a
      reasonable basis for our opinion.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      our
      opinion, the consolidated financial statements referred to above present fairly,
      in all material respects, the consolidated financial position of Access
      Pharmaceuticals, Inc. and Subsidiaries as of December 31, 2006, and the
      consolidated results of their operations and their cash flows for the year
      then
      ended in conformity with accounting principles generally accepted in the United
      States of America.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      accompanying consolidated financial statements have been prepared assuming
      that
      the Company will continue as a going concern. As discussed in Note 2 to the
      consolidated financial statements, the Company has had recurring losses from
      operations and a net working capital deficiency and accumulated deficit that
      raises substantial doubt about its ability to continue as a going concern.
      Management&#8217;s plans in regard to these matters are also described in Note 2.
      These conditions raise substantial doubt about the Company&#8217;s ability to continue
      as a going concern. These consolidated financial statements do not include
      any
      adjustments to reflect the possible future effects on the recoverability and
      classification of assets or the amounts and classification of liabilities that
      may result from the outcome of this uncertainty. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      discussed in Note 1 to the consolidated financial statements, the Company
      adopted Statement of Financial Accounting Standards No.&#160;123(R),
&#8220;Share-Based Payment&#8221;, effective January&#160;1, 2006. As discussed in Note 7 to
      the consolidated financial statements the Company adopted Financial Accounting
      Standards Board Staff Position No.&#160;EITF&#160;00-19-2, &#8220;Accounting for
      Registration Payment Arrangements&#8221;, effective October&#160;1, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">/s/
      WHITLEY PENN LLP</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Dallas,
      Texas

      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">March
        30,
        2007</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">114</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Report
      of Independent Registered Public Accounting Firm</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Board
      of Directors and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Stockholders
      of </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      Pharmaceuticals, Inc. and Subsidiaries</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have
      audited the accompanying consolidated balance sheets of Access Pharmaceuticals,
      Inc. (the &#8220;Company&#8221;), as of December 31, 2005, and the related consolidated
      statements of operations and comprehensive loss, stockholders' equity (deficit),
      and cash flows for each of the two years in the period ended December 31,
      2005.&#160;These financial statements are the responsibility of the Company's
      management. Our responsibility is to express an opinion on these consolidated
      financial statements based on our audits.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      conducted our audits in accordance with the standards of the Public Company
      Accounting Oversight Board (United States). Those standards require that we
      plan
      and perform the audit to obtain reasonable assurance about whether the financial
      statements are free of material misstatement. The Company is not required to
      have, nor were we engaged to perform an audit of its internal control over
      financial reporting. Our audit included consideration of internal control over
      financial reporting as a basis for designing audit procedures that are
      appropriate in the circumstances, but not for the purpose of expressing an
      opinion on the effectiveness of the Company&#8217;s internal control over financial
      reporting. Accordingly, we express no such opinion. An audit also includes
      examining, on a test basis, evidence supporting the amounts and disclosures
      in
      the financial statements, assessing the accounting principles used and
      significant estimates made by management, as well as evaluating the overall
      financial statement presentation. We believe that our audits provide a
      reasonable basis for our opinion.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      our
      opinion, the consolidated financial statements referred to above present fairly,
      in all material respects, the consolidated financial position of Access
      Pharmaceuticals, Inc., as of December 31, 2005, and the results of their
      consolidated operations and their consolidated cash flows for each of the two
      years in the period ended December 31, 2005, in conformity with accounting
      principles generally accepted in the United States of America.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">The
      accompanying consolidated financial statements have been prepared assuming
      that
      the Company will continue as a going concern. The Company has incurred
      significant losses in each of the two years in the period ended December 31,
      2005 in the amounts of $1.7 million and $10.2 million, respectively; the
      Company&#8217;s total liabilities exceeded its assets by $4.2 million at December 31,
      2005; and its operating cash flows were negative $7.3 million and negative
      $9.1
      million for the years ended December 31, 2005 and 2004, respectively. These
      matters, and others described in Note 2, raise substantial doubt about the
      Company&#8217;s ability to continue as a going concern. Management&#8217;s plans in regard
      to these matters are also described in Note 2. The consolidated financial
      statements do not include any adjustments that might result from the outcome
      of
      this uncertainty.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">/s/
      GRANT
      THORNTON LLP</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Dallas,
      Texas</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">April
      25,
      2006 </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">115</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      Pharmaceuticals, Inc. and Subsidiaries</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">CONSOLIDATED
      BALANCE SHEETS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
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          <tr>
            <td valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">ASSETS</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31, 2006</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31, 2005</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                assets </font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" colspan="2" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" colspan="2" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                and cash equivalents </font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,194,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">349,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Short
                term investments, at cost</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,195,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">125,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Receivables
                </font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">359,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,488,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prepaid
                expenses and other current assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">283,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">197,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                current assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,031,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,159,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Property
                and equipment, net</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">212,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">300,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Debt
                issuance costs, net</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">158,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patents,
                net</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">878,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,046,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Licenses,
                net</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">75,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Restricted
                cash and other assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">122,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">633,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,426,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">7,213,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">LIABILITIES
                AND STOCKHOLDERS' DEFICIT</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                liabilities</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounts
                payable and accrued expenses</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,226,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,883,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
                interest payable</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">581,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">652,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
                revenues</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">173,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">173,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                portion long-term debt, net of discount $2,062,000 in 2006</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">8,833,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">106,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                current liabilities</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10,813,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,814,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Long-term
                debt, net of discount $1,879,000 in 2005</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">7,636,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                liabilities</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">16,313,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11,450,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Commitments
                and contingencies</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stockholders'
                deficit</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Preferred
                stock - $.01 par value; authorized 2,000,000 shares;</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">none
                issued or outstanding</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                stock - $.01 par value; authorized 100,000,000 shares;</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">issued,
                3,535,108 at December 31, 2006 and authorized</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">50,000,000
                shares; issued 3,528,108 at December 31, 2005</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">35,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">35,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Additional
                paid-in capital</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">68,799,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">62,942,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notes
                receivable from stockholders</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,045,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,045,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Treasury
                stock, at cost - 163 shares</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accumulated
                deficit</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(77,672,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(66,165,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                stockholders' deficit</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(9,887,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,237,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="44%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                liabilities and stockholders' deficit</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,426,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">7,213,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div>&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          accompanying notes are an integral part of these consolidated
          statements.</font></div>
      </div>
      <div>&#160;</div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">116</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      Pharmaceuticals, Inc. and Subsidiaries</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">CONSOLIDATED
      STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="8" valign="bottom" width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Year
                ended December 31,</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2004</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expenses</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Research
                and development</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,053,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,783,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,335,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">General
                and administrative</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,813,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,638,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,199,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
                and amortization</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">309,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">333,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">469,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Write
                off of goodwill</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,868,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                expenses</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,175,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9,622,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,003,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from operations</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(5,175,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(9,622,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(6,003,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and miscellaneous income</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">294,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">100,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">226,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and other expense</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(7,436,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,100,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,385,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Unrealized
                loss on fair value of warrants and beneficial</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">conversion
                feature</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,107,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(8,249,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,000,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,159,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                before discontinued operations and before tax benefit</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(13,424,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(11,622,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(7,162,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
                tax benefit</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">173,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,067,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from continuing operations</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(13,251,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(7,555,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(7,162,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">DDiscontinued
                operations, net of taxes of $173,000 in 2006 and&#160; $4,067,000 in
                2005</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">377,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,855,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,076,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12,874,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,700,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(10,238,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Basic
                and diluted loss per common share</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from continuing operations allocable to common</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">stockholders</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3.75</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2.34</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2.36</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discontinued
                operations</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.11</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.81</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1.02</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss allocable to common stockholders</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3.65</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.53</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3.38</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
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          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted
                average basic and diluted common shares</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">outstanding</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,531,934</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,237,488</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,032,451</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12,874,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(
                1,700,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(10,238,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
                comprehensive loss</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Foreign
                currency translation adjustment</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(17,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Comprehensive
                loss</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12,874,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,697,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(10,255,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        accompanying notes are an integral part of these consolidated
        statements.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">117</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      Pharmaceuticals, Inc. and Subsidiaries</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">CONSOLIDATED
      STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="3" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Common
                &#160;Stock</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Shares
                </font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Amount
                </font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Additional
                paid in capital</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Notes
                receivable from stockholders</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Unamortized</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">value
                of restricted stock grants</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Treasury
                stock</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Accumulated</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">other
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">comprehensive</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">income</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(loss)</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Accumulated</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">deficit&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Balance,
                December </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">31,
                2003</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,679,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                27,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$49,704,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,045,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$(294,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$(4,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$14,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$(54,227,000)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                stock </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">issued
                </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">for
                cash, </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">net
                of offering </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">costs</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">359,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9,012,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                stock issued for</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">cash
                exercise of </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">warrants
                and options</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">283,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                stock issued for </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">cashless</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">exercise
                of </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">warrants</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">42,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Issuance
                of restricted</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">stock
                grants</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">135,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(135,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
                comprehensive </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">loss</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(17,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortization
                of restricted stock grants</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">120,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(10,238,000)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Balance,
                December 31, 2004</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,105,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">31,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">59,134
                000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,045,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(309,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;(4,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,000)
                </font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(64,465,000)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                stock issued, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">net
                of </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">offering
                costs</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">237,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,119,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                stock issued</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">for
                payment of interest</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">190,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">616,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
                comprehensive </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">income</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discount
                on convertible</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">note
                extension</font></div>
            </td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,109,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortization
                and </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">forfeiture
                of restricted </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">stock
                grants</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(36,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">309,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,700,000)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">118</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Balance,
                December 31, 2005</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,528,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">35,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">62,942,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,045,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(66,165,000)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                stock issued for</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">compensation</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">7,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">77,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Warrants
                issued</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">100,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                option</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">compensation
                expense</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
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            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
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            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">248,000</font></div>
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            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
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            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Issuance
                of convertible</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">debt
                with warrants</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,432,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cumulative
                effect of</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">change
                in accounting</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">principle</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,367,000</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12,874,000)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Balance,
                December 31, 2006</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,535,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                35,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                68,799,000</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,045,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                -</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                (4,000)</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                -</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$(77,672,000)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        accompanying notes are an integral part of these consolidated
        statements.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">119</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      Pharmaceuticals, Inc. and Subsidiaries</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">CONSOLIDATED
      STATEMENTS OF CASH FLOWS</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="8" valign="bottom" width="33%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Year
                ended December 31,</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2004</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                flows from operating activities </font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12,874,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,700,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(10,238,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Adjustments
                to reconcile net loss to net cash used</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">in
                operating activities:</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Unrealized
                Loss </font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,107,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                on sale Australia assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">208,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Impairment
                of investment</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">112,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Write
                off of goodwill</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,868,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortization
                of restricted stock grants</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">309,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">120,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                option expense</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">248,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                issued for compensation</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">77,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">42,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                issued for interest</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">618,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
                and amortization</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">309,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">570,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">773,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortization
                of debt costs and discounts</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,749,
                000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">695,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">183,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Gain
                on sale of assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(550,000)</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12,891,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
                in operating assets and liabilities:</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Receivables</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,129,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">622,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">358,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Inventory</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">104,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">60,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prepaid
                expenses and other current assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">817,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(195,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Restricted
                cash and other assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">127,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounts
                payable and accrued expenses</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,657,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">490,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">401,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
                interest payable</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">363,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">341,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
                revenues</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">606,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                cash used in operating activities</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,958,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(7,301,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(8,411,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                flows from investing activities:</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Capital
                expenditures</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(28,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(221,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proceeds
                from sale of equipment</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">355,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proceeds
                from sale of patents</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">974,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proceeds
                from sale of oral/topical care assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">550,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">7,391,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Restricted
                cash and other assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">684,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(666,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Redemptions
                of short-term investments </font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
                certificates of deposit, net </font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,070,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">361,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,374,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                cash provided by (used in)&#160;investing activities</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,523,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9,717,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">487,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                flows from financing activities:</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Payments
                of notes payable</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(106,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(407,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(310,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Payment
                of secured notes payable and convertible notes</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(6,648,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proceeds
                from secured notes payable</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,432,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,633,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proceeds
                from stock issuances, net of costs</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">577,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9,299,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                cash provided by (used in) financing activities</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,326,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,845,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">8,989,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                increase (decrease) in cash and cash equivalents</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">845,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,429,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,065,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effect
                of exchange rate changes on cash and cash equivalents</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(17,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                and cash equivalents at beginning of year</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">349,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,775,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">727,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                and cash equivalents at end of year</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,194,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">349,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,775,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">120</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Cash
                paid for interest</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>$</em></font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>315,000</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>$</em></font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>445,000</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>$</em></font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>1,073,000</em></font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Supplemental
                disclosure of noncash transactions</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Value
                of restricted stock grants</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>-</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>-</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>135,000</em></font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Assets
                acquired under capital leases </em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>-</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>-</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>59,000</em></font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Common
                stock issued for SEDA and</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Secured
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            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>-</em></font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>502,000</em></font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>-</em></font></div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Discount
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            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>-</em></font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>2,109,000</em></font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>-</em></font></div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Debt
                issuance costs</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>568,000</em></font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Accrued
                interest capitalized</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>433,000</em></font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Warrants
                issued per professional agreement of consulting
                services</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>100,000</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Cumulative
                change of accounting principle</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>1,367,000</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Issuance
                of convertible debt with warrants</em></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>5,432,000</em></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        accompanying notes are an integral part of these consolidated
        statements.</font></div><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">121</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
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        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
      Pharmaceuticals, Inc. and Subsidiaries</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">NOTES
      TO
      CONSOLIDATED FINANCIAL STATEMENTS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Three
      years ended December 31, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -63pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING
      POLICIES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Nature
      of Operations</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      Pharmaceuticals, Inc. is an emerging pharmaceutical company engaged in the
      development of novel therapeutics for the treatment of cancer and supportive
      care of cancer patients. This development work is based primarily on the
      adaptation of existing therapeutic agents using the Company&#8217;s proprietary drug
      delivery technology. Our efforts have been principally devoted to research
      and
      development, resulting in significant losses since inception on February 24,
      1988. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      summary
      of the significant accounting policies applied in the preparation of the
      accompanying consolidated financial statements follows.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Principles
      of Consolidation</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      consolidated financial statements include the financial statements of Access
      Pharmaceuticals, Inc. and our wholly-owned subsidiaries. All intercompany
      balances and transactions have been eliminated in consolidation.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Use
      of
      Estimates</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      preparing consolidated financial statements in conformity with accounting
      principles generally accepted in the United States of America, management is
      required to make estimates and assumptions that affect the reported amounts
      of
      assets and liabilities, the disclosure of contingent assets and liabilities
      at
      the date of the financial statements, and the reported amounts of revenues
      and
      expenses during the reporting period. Actual results could differ from those
      estimates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      tested
      intangible assets for impairment based on estimates of fair value. It is at
      least reasonably possible that the estimates used by us will be materially
      different from actual amounts. These differences could result in the impairment
      of all or a portion of our intangible assets, which could have a materially
      adverse effect on our results of operations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Cash
      and Cash Equivalents </u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      consider all highly liquid instruments purchased with a maturity of three months
      or less to be cash equivalents for purposes of the statements of cash flows.
      Cash and cash equivalents consist primarily of cash in banks, money market
      funds
      and short-term corporate securities. We invest any excess cash in government
      and
      corporate securities. All other investments are reported as short-term
      investments.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Short-term
      Investments</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Short-term
      investments consist of certificates of deposit. All short term investments
      are
      classified as held to maturity. The cost of debt securities is adjusted for
      amortization of premiums and accretion of discounts to maturity. Such
      amortization is included in interest income. The cost of securities sold is
      based on the specific identification method.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Property
      and Equipment </u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Property
      and equipment are recorded at cost. Depreciation is provided using the
      straight-line method over estimated useful lives ranging from three to seven
      years. Expenditures for major renewals and betterments that extend the useful
      lives are capitalized. Expenditures for normal maintenance&#160;and repairs are
      expensed as incurred. The cost of assets sold or abandoned and the related
      accumulated depreciation are eliminated from the accounts and any gains or
      losses are recognized in the accompanying consolidated statements of operations
      of the respective period. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">122</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -63pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -
      Continued</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Research
      and Development Expenses </u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
      to SFAS No.&#160;2, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Accounting
      for Research and Development Costs,&#8221;</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      our
      research and development costs are expensed as incurred. Research and
      development expenses include, but are not limited to, payroll and personnel
      expense, lab supplies, preclinical, development cost, clinical trial expense,
      outside manufacturing and consulting. The cost of materials and equipment or
      facilities that are acquired for research and development activities and that
      have alternative future uses are capitalized when acquired.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Fair
      Value of Financial Instruments</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      carrying value of cash, cash equivalents, short-term investments and accounts
      payable approximates fair value due to the short maturity of these items. It
      is
      not practical to estimate the fair value of the Company&#8217;s long-term debt because
      quoted market prices do not exist and there were no available securities with
      similar terms to use as a basis to value our debt.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Income
      Taxes </u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
      taxes are accounted for under the asset and liability method. Deferred tax
      assets and liabilities are recognized for the future tax consequences
      attributable to differences between the financial statement carrying amounts
      of
      existing assets and liabilities and their respective tax bases and operating
      loss and tax credit carryforwards. Deferred tax assets and liabilities are
      measured using enacted tax rates expected to apply to taxable income in the
      years in which those temporary differences are expected to be recovered or
      settled. The effect on deferred tax assets and liabilities of a change in tax
      rates is recognized in income in the period that includes the enactment date.
      A
      valuation allowance is provided for deferred tax assets to the extent their
      realization is in doubt.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Loss
      Per Share</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have
      presented basic loss per share, computed on the basis of the weighted average
      number of common shares outstanding during the year, and diluted loss per share,
      computed on the basis of the weighted average number of common shares and all
      dilutive potential common shares outstanding during the year. Potential common
      shares result from stock options, vesting of restricted stock grants,
      convertible notes and warrants. However, for all years presented, all
      outstanding stock options, restricted stock grants, convertible notes and
      warrants are anti-dilutive due to the losses for the periods. Anti-dilutive
      common stock equivalents of 12,548,342; 1,730,135; and 1,114,122 were excluded
      from the loss per share computation for 2006, 2005 and 2004,
      respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Restricted
      Cash</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Restricted
      cash is cash that is or may be committed for a particular purpose. We had
      restricted cash in 2005 as collateral for a note payable of $103,000. The note
      was paid in full in 2006 and there is no restricted cash in 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Intangible
      Assets</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      expense internal patent and application costs as incurred because, even though
      we believe the patents and underlying processes have continuing value, the
      amount of future benefits to be derived therefrom are uncertain. Purchased
      patents are capitalized and amortized over the life of the patent. We recognize
      the purchase cost of licenses and amortize them over their estimated useful
      lives. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company operates in a single segment. In 2005, the Company wrote off its
      goodwill as determined by comparing the Company&#8217;s market capitalization with its
      net asset value resulting in an impairment charge of $1,868,000. In 2005, the
      Company sold one of its patents for $974,000 and the Company believes the fair
      value of the remaining patents based on discounted cash flow analysis exceeds
      the carry value. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">123</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -
      Continued</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Intangible
      assets consist of the following (in thousands):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="95%">

          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: #ffffff 2px solid">
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            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31, 2006</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="5" valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31, 2005</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="5" valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31, 2004</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
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            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Gross
                carrying</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">value</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accumulated</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">amortization</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Gross</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">carrying</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">value</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accumulated</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">amortization</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Gross</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">carrying</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">value</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accumulated</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">amortization</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortizable
                intangible assets</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patents</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,680</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">802</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,680</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">634</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,179</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">864</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Licenses</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">500</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">475</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">500</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">425</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">500</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">375</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,180</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,277</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,180</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,059</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,679</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,239</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortization
      expense related to intangible assets totaled $218,000, $345,000 and $421,000
      for
      the years ended December 31, 2006, 2005 and 2004, respectively. The aggregate
      estimated amortization expense for intangible assets remaining as of December
      31, 2006 is as follows (in thousands):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="28%">

          <tr>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">193</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2008</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">168</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2009</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">168</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2010</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">168</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2011</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">168</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Thereafter</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">38</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">903</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Stock-Based
      Compensation</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January&#160;1, 2006, we adopted SFAS No.&#160;123 (revised 2004), &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Share-Based
      Payment</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,&#8221;
(&#8220;SFAS
      123(R)&#8221;), which requires the measurement and recognition of all share-based
      payment awards made to employees and directors including stock options based
      on
      estimated fair values. SFAS 123(R) supersedes the Company&#8217;s previous accounting
      under Accounting Principles Board (&#8220;APB&#8221;) Opinion No.&#160;25, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Accounting
      for Stock Issued to Employees</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;
(&#8220;APB
      25&#8221;), for periods beginning in fiscal year 2006. In March 2005, the Securities
      and Exchange Commission issued Staff Accounting Bulletin No.&#160;107 (&#8220;SAB
      107&#8221;) relating to SFAS 123(R). We applied the provisions of SAB 107 in its
      adoption of SFAS 123(R). </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      adopted SFAS 123(R) using the modified prospective transition method, which
      requires the application of the accounting standard as of January&#160;1, 2006,
      the first day of the Company&#8217;s 2006 fiscal year. Our consolidated financial
      statements for the year ended December&#160;31, 2006, reflect the impact of SFAS
      123(R). In accordance with the modified prospective transition method, our
      consolidated financial statements for prior periods have not been restated
      to
      include the impact of SFAS 123(R). Stock-based compensation expense recognized
      under SFAS 123(R) for the year ended December&#160;31, 2006 was approximately
      $248,000. Stock-based compensation expense which would have been recognized
      under the fair value based method would have been approximately $750,000 during
      the year ended December&#160;31, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">124</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      1 - NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -
      Continued</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">SFAS
      123(R) requires companies to estimate the fair value of share-based payment
      awards on the date of grant using an option-pricing model. The value of the
      portion of the award that is ultimately expected to vest is recognized as
      expense over the requisite service period in the company&#8217;s Statement of
      Operations. Prior to the adoption of SFAS 123(R), we accounted for stock-based
      awards to employees and directors using the intrinsic value method in accordance
      with APB No.&#160;25 as allowed under SFAS No.&#160;123, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Accounting
      for Stock-Based Compensation</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;
(&#8220;SFAS
      123&#8221;). Under the intrinsic value method, no stock-based compensation expense for
      stock option grants was recognized because the exercise price of our stock
      options granted to employees and directors equaled the fair market value of
      the
      underlying stock at the date of grant. In 2005, we did recognize stock
      compensation expense for restricted stock awards based on the fair value of
      the
      underlying stock on date of grant and this expense was amortized over the
      requisite service period. There were no restricted stock awards granted in
      2006
      and therefore no stock compensation expense is recognized in 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock-based
      compensation expense recognized in our Statement of Operations for the first
      year ended December 31, 2006 includes compensation expense for share-based
      payment awards granted prior to, but not yet vested as of December&#160;31,
      2005, based on the grant date fair value estimated in accordance with the pro
      forma provisions of SFAS 123 and compensation expense for the share-based
      payment awards granted subsequent to December 31, 2005, based on the grant
      date
      fair value estimated in accordance with the provisions of SFAS 123(R).
      Stock-based compensation expense recognized in the Company&#8217;s Statement of
      Operations for the year ended December 31, 2006 is based on awards ultimately
      expected to vest and has been reduced for estimated forfeitures, which currently
      is nil. SFAS 123(R) requires forfeitures to be estimated at the time of grant
      and revised, if necessary, in subsequent periods if actual forfeitures differ
      from those estimates. In the Company&#8217;s pro forma information required under SFAS
      123 for periods prior to fiscal year 2006, forfeitures have been accounted
      for
      as they occurred. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      use
      the Black-Scholes option-pricing model (&#8220;Black-Scholes&#8221;) as its method of
      valuation under SFAS 123(R) in fiscal year 2006 and a single option award
      approach. This fair value is then amortized on a straight-line basis over the
      requisite service periods of the awards, which is generally the vesting period.
      Black-Scholes was also previously used for our pro forma information required
      under SFAS 123 for periods prior to fiscal year 2006. The fair value of
      share-based payment awards on the date of grant as determined by the
      Black-Scholes model is affected by our stock price as well as other assumptions.
      These assumptions include, but are not limited to the expected stock price
      volatility over the term of the awards, and actual and projected employee stock
      option exercise behaviors. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
      2006, 753,872 stock options were granted and 50,000 stock options were granted
      during 2005 under the 2005 Equity Incentive Plan. In addition, 49,700 stock
      options were granted during 2005 under the 1995 Stock Award Program. Assumptions
      for 2006 are:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">127%
                - the expected volatility assumption was based upon a combination
                of
                historical stock price volatility measured on a twice a month basis
                and is
                a reasonable indicator of expected volatility.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.85%
                (average) - the risk-free interest rate assumption is based upon
                U.S.
                Treasury bond interest rates appropriate for the term of the Company&#8217;s
                employee stock options. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">None
                - the dividend yield assumption is based on our history and expectation
                of
                dividend payments. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.6
                years - the estimated expected term (average of 1.6 years) is based
                on
                employee exercise behavior. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      December 31, 2006, the balance of unearned stock-based compensation to be
      expensed in future periods related to unvested share-based awards, as adjusted
      for expected forfeitures, is approximately $360,000. The period over which
      the
      unearned stock-based compensation is expected to be recognized is approximately
      three years. We anticipate that we will grant additional share-based awards
      to
      employees in the future, which will increase our stock-based compensation
      expense by the additional unearned compensation resulting from these grants.
      The
      fair value of these grants is not included in the amount above, because the
      impact of these grants cannot be predicted at this time due to the dependence
      on
      the number of share-based payments granted. In addition, if factors change
      and
      different assumptions are used in the application of SFAS&#160;123(R) in future
      periods, stock-based compensation expense recorded under SFAS&#160;123(R) may
      differ significantly from what has been recorded in the current
      period.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">125</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Our
      Employee Stock </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Option</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      Plans
      have been deemed compensatory in accordance with SFAS 123(R). Stock-based
      compensation relating to this plan was computed using the Black-Scholes model
      option-pricing formula with interest rates, volatility and dividend assumptions
      as of the respective grant dates of the purchase rights provided to employees
      under the plan. The weighted-average fair value of options existing under all
      plans during 2006 was $5.00. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table summarizes stock-based compensation in accordance with SFAS
      123(R) for the year ended December&#160;31, 2006, which was allocated as follows
      (in thousands): </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td colspan="2" valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Year&#160;ended</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>December&#160;31,
                2006</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Research
                and development</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">68</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="63%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">General
                and administrative</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">180</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="63%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock-based
                compensation expense included in operating expenses</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">248</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                stock-based compensation expense</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">248</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="63%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Tax
                benefit</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="63%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock-based
                compensation expense, net of tax</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">248</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table reflects net income and diluted earnings per share for the
      year
      ended December&#160;31, 2006, compared with proforma information for the year
      ended December&#160;31, 2005, had compensation cost been determined in
      accordance with the fair value-based method prescribed by SFAS 123(R).
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(in
                thousands)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="6" valign="bottom" width="23%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Year
                ended</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31,</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss, as reported under APB 25 for the prior period </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(1)</sup></font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">N/A</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,700</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Add
                back stock based employee compensation expense in </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">reported
                net loss, net of related tax effects</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Subtract
                total stock-based compensation expense determined </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">under
                fair value-based method for all awards, net of related tax</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">effects</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(2)</sup></font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(248</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(750</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss including the effect of stock-based compensation expense</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(3)</sup></font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12,874</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,450</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                per share:</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Basic
                and diluted, as reported for the prior period</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(1)</sup></font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3.65</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.53</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Basic
                and diluted, including the effect of stock-based</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">compensation
                expense</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(3)</sup></font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3.65</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.76</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(1)</sup></font></div>
            </td>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Net
                loss and loss per share for periods prior to year 2006 does not include
                stock-based compensation expense under SFAS 123 because the Company
                did
                not adopt the recognition provisions of SFAS 123.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(2)</sup></font></div>
            </td>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Stock-based
                compensation expense for periods prior to year 2006 was calculated
                based
                on the pro forma application of SFAS 123.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(3)</sup></font></div>
            </td>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Net
                loss and loss per share for periods prior to year 2006 represent
                pro forma
                information based on SFAS 123. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">126</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
      compensation expense for options granted to nonemployees has been determined
      in
      accordance with SFAS&#160;123 and EITF&#160;96-18, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Accounting
      for Equity Instruments That Are Issued to Other Than Employees for Acquiring,
      or
      in Conjunction with Selling, Goods or Services,&#8221; </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">as
      the
      fair value of the consideration received or the fair value of the equity
      instruments issued, whichever is more reliably measured. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Recent
      Accounting Pronouncement</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      September 2006, the FASB issued Statement of Financial Accounting Standards
      No.&#160;157, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Fair
      Value Measurements&#8221;</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      (SFAS&#160;157). SFAS&#160;157 defines fair value, establishes a framework for
      measuring fair value in accordance with generally accepted accounting
      principles, and expands disclosures about fair value measurements. SFAS&#160;157
      is effective for fiscal years beginning after November&#160;15, 2007. We are
      evaluating the potential impact of the implementation of SFAS&#160;157 on our
      financial position and results of operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      June
      2006, the FASB issued FASB Interpretation No.&#160;48, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Accounting
      for Income Tax Uncertainties</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;
      (FIN&#160;48). FIN&#160;48 defines the threshold for recognizing the benefits of
      tax return positions in the financial statements as &#8220;more-likely-than-not&#8221; to be
      sustained by the taxing authority. The recently issued literature also provides
      guidance on the derecognition, measurement and classification of income tax
      uncertainties, along with any related interest and penalties. FIN&#160;48 also
      includes guidance concerning accounting for income tax uncertainties in interim
      periods and increases the level of disclosures associated with any recorded
      income tax uncertainties. FIN&#160;48 is effective for Access as of
      January&#160;1, 2007. Any differences between the amounts recognized in the
      balance sheets prior to the adoption of FIN&#160;48 and the amounts reported
      after adoption will be accounted for as a cumulative-effect adjustment recorded
      to the beginning balance of retained earnings. We are evaluating the potential
      impact of the implementation of FIN&#160;48 on our financial position and
      results of operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      2 - LIQUIDITY</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">The
      Company incurred significant losses from continuing operations of $13.4 million
      for the year ended December 31, 2006 and $7.6 million for the year ended
      December 31, 2005. Additionally, at December 31, 2006, we had negative working
      capital of $5.8 million. As of December 31, 2006, we did</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      not have
      sufficient funds to repay our convertible notes at their maturity and support
      our working capital and operating requirements. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      do not
      have funds to pay our debt obligations which are due in March, April and
      September 2007 and will have to raise more funds or attempt to restructure
      the
      convertible notes.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>SCO
      Capital Partners LLC Note and Warrant Purchase Agreement</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December 6, 2006, we entered into a note and warrant purchase agreement pursuant
      to which we sold and issued an aggregate of $500,000 of 7.5% convertible notes
      due March 31, 2007 and warrants to purchase 386,364 shares of common stock
      of
      Access. Net proceeds to Access were $450,000. The notes and warrants were sold
      in a private placement to a group of accredited investors led by SCO Capital
      Partners LLC (&#8220;SCO&#8221;) and affiliates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October 24, 2006, we entered into a note and warrant purchase agreement pursuant
      to which we sold and issued an aggregate of $500,000 of 7.5% convertible notes
      due March 31, 2007 and warrants to purchase 386,364 shares of common stock
      of
      Access. Net proceeds to Access were $450,000. The notes and warrants were sold
      in a private placement to a group of accredited investors led by SCO and
      affiliates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 16, 2006, we entered into a note and warrant purchase agreement
      pursuant to which we sold and issued an aggregate of $5,000,000 of 7.5%
      convertible notes due March 31, 2007 and warrants to purchase an aggregate
      of
      3,863,634 shares of common stock of Access. Net proceeds to Access were $4.5
      million. The notes and warrants were sold in a private placement to a group
      of
      accredited investors led by SCO and affiliates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      of
      the notes mature on March 31, 2007, are convertible into Access common stock
      at
      a fixed conversion rate of $1.10 per share, bear interest of 7.5% per annum
      and
      are secured by certain assets of Access. Each note may be converted at the
      option of the noteholder or Access under certain circumstances as set forth
      in
      the notes. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      noteholder received a warrant to purchase a number of shares of common stock
      of
      Access equal to 75% of the total number shares of Access common stock into
      which
      such holder's note is convertible. Each warrant has an exercise price of $1.32
      per share and is exercisable at any time prior to February 16, 2012, October
      24,
      2012 and December 6, 2012. In the event SCO and its affiliates were to convert
      all of their notes and exercise all of their warrants, they would own
      approximately 74.1% of the voting securities of Access.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">127</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with its sale and issuance of notes and warrants, Access entered
      into
      an investors rights agreement whereby it granted SCO the right to designate
      two
      individuals to serve on the Board of Directors of Access while the notes are
      outstanding, and also granted registration rights with respect to the shares
      of
      common stock of Access underlying the notes and warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company believes that based on the funds available the Company will have the
      ability to pay its projected net cash burn rate of $750,000 per month for seven
      months. We will have to raise more funds to cover future months net cash burn
      rate and to pay our debt service or attempt to restructure the convertible
      notes.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      3 - RELATED PARTY TRANSACTIONS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
      B. Howell, M.D., a Director, receives payments for consulting services and
      reimbursement of direct expenses and has also received warrants for his
      consulting services. Dr. Howell&#8217;s payments for consulting services, expense
      reimbursements and warrants are as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="center">
      <table cellpadding="0" cellspacing="0" width="33%">

          <tr>
            <td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Year</font></div>
            </td>
            <td align="left" valign="middle" width="3%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consulting
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Fees
                </font></div>
            </td>
            <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expense
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Reimbursement
                </font></div>
            </td>
            <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">69,000</font></div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,000</font></div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">79,000</font></div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,000</font></div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2004</font></div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">58,000</font></div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9,000</font></div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      event SCO Capital Partners LLC (&#8220;SCO&#8221;) and its affiliates were to convert all of
      their notes and exercise all of their warrants, they would own approximately
      74.1% of the voting securities of Access. During 2006 SCO and affiliates were
      paid $415,000 in fees for the convertible notes that Access issued and were
      paid
      $131,000 in investor relations fees.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">See
      Note
      9 for a discussion of our Restricted Stock Purchase Program.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      4 - PROPERTY AND EQUIPMENT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" width="75%">

          <tr>
            <td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Property
                and equipment consists of the following:</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="6" valign="bottom" width="23%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31,</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Laboratory
                equipment</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,090,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,090,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Laboratory
                and building improvements</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">167,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">167,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Furniture
                and equipment</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">134,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">138,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,391,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,395,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Less
                accumulated depreciation and amortization</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,179,000
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,095,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="45%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                property and equipment</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">212,000
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">300,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
      and amortization on property and equipment was $91,000, $225,000, and $244,000
      for the years ended December 31, 2006, 2005 and 2004, respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      5 - 401(k) PLAN</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have a
      tax-qualified employee savings and retirement plan (the &#8220;401(k) Plan&#8221;) covering
      all our employees. Pursuant to the 401(k) Plan, employees may elect to reduce
      their current compensation by up to the statutorily prescribed annual limit
      ($15,000 in 2006; $14,000 in 2005; and $13,000 in 2004) and to have the amount
      of such reduction contributed to the 401(k) Plan. We have a 401(k) matching
      program whereby we contribute for each dollar a participant contributes a like
      amount, with a maximum contribution of 2% of a participant&#8217;s earnings. The
      401(k) Plan is intended to qualify under Section 401 of the Internal Revenue
      Code so that contributions by employees or by us to the 401(k) Plan, and income
      earned on 401(k) Plan contributions, are not taxable to employees until
      withdrawn from the 401(k) Plan, and so that contributions by us, if any, will
      be
      deductible by us when made. At the direction of each participant, we invest
      the
      assets of the 401(k) Plan in any of 23 investment options. Company contributions
      under the 401(k) Plan were approximately $11,000 in 2006; $31,000 in 2005;
      and
      $46,000 in 2004.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">128</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      6 - DISCONTINUED OPERATIONS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      October 2005 we sold our oral/topical care business to Uluru, Inc. for up to
      $18.6 million. At the closing of this agreement we received $8.7 million. In
      addition, due to the Amended Asset Sale Agreement in December 2006, we received
      $4.9 million and an obligation to receive from Uluru $350,000 on April 8, 2007
      for the first and second anniversary payments and settlement of certain
      milestones. We recorded $550,000 as revenue for the discontinued operations
      in
      2006. Any contingent liabilities arise in the future relating to our former
      business could reduce future receipts. Additional payments of up to $4.8
      million, as amended by the Amended Asset Sale Agreement may be made upon the
      achievement of certain additional sales milestones.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      September 2005 we closed our Australian laboratory and office, keeping the
      vitamin B12 technology.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with Statement of Financial Accounting Standards (&#8220;SFAS&#8221;) No. 144,
&#8220;Accounting for the Impairment or Disposal of Long-Lived Assets&#8221; operating
      results for assets sold or held for sale are presented as discontinued
      operations for current and all prior years presented. In accordance with SFAS
      No. 144 the operating results of these assets, along with the gain on sale,
      have
      been presented in discontinued operations for all periods
      presented.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
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            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff double">
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            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;2006</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;2005</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;2004</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Revenues</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">550,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">781,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">549,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Expenses</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cost
                of product sales</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%">&#160;</td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,012,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(239,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Research
                and development</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,501,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,082,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(237,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(304,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Total
                expenses</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,750,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,625,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Income/loss
                from discontinued operations</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">550,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,969,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,076,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Gain
                on sale of assets</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12,891,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Tax
                expense</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(173,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,067,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Discontinued
                operations</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">377,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,855,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,076,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      previously had licenses for the oral/topical assets. These licenses were sold
      to
      Uluru, Inc. in October 2005. In the Asset Sale Agreement between us and Uluru
      certain refunds and receipts were incurred before the date of sale and were
      assigned to either us or to Uluru. We have $173,000 recorded as a deferred
      gain
      on the sale until such time as approvals are received.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      7 - DEBT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      September 20, 2000, we completed a $13.5 million convertible note offering.
      The
      offering was placed with three investors. One investor was repaid in 2005,
      $4,015,000. Our other convertible notes are due in two parts. The notes bear
      interest at 7.7% per annum with $733,000 of interest due annually on September
      13th.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>$4,015,000
      due on April 28, 2007.</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      This
      investor&#8217;s notes have a fixed conversion price of $5.00 per share of common
      stock and may be converted by the note holder or us under certain circumstances
      as defined in the note. Upon a change of control, this investor is not required
      to automatically convert the note unless the amount payable to the investor
      upon
      change of control, issuable upon conversion of the note equals or exceeds $7.50.
      If the notes are not converted we will have to repay the notes on the due dates.
      The investor&#8217;s notes were amended November 3, 2005 extending the term and
      adjusting the conversion price from $27.50 to $5.00 per common share. The
      amendment and modification resulted in us recording additional debt discount
      of
      $2.1 million, which will be accreted to interest expense to the revised maturity
      date. The interest due at December 31, 2006 was $92,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">129</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>$5,500,000
      due on September 13, 2010</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      This
      investor delayed his interest payment which was due in 2005 and 2006 until
      September 13, 2007 or earlier if the Company raises more than $5.0 million
      in
      funds. The capitalized interest was $880,000 and interest on the capitalized
      interest was $26,000 at December 31, 2006. The interest due on the convertible
      note was $126,000 at December 31, 2006. This note has a fixed conversion price
      of $27.50 per share of common stock and may be converted by the note holder
      or
      us under certain circumstances as defined in the note. If the notes are not
      converted we will have to repay the notes on the due dates. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>$6,000,000
      due on March 31, 2007</u></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      The
      notes were sold in February 2006 in a private placement to a group of accredited
      investors led by SCO Capital Partners LLC and affiliates. We entered into a
      note
      and purchase agreement to which we sold and issued an aggregate of $5 million
      of
      7.5% convertible notes due March 31, 2007 and warrants to purchase 3,863,634
      shares of common stock of Access. Net proceeds to Access were $4.5
      million.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October 24, 2006, we entered into a note and warrant purchase agreement pursuant
      to which we sold and issued an aggregate of $500,000 of 7.5% convertible notes
      due March 31, 2007 and warrants to purchase 386,364 shares of common stock
      of
      Access. Net proceeds to Access were $450,000. On December 6, 2006, we entered
      into a note and warrant purchase agreement pursuant to which we sold and issued
      an aggregate of $500,000 of 7.5% convertible notes due March 31, 2007 and
      warrants to purchase 386,364 shares of common stock of Access. Net proceeds
      to
      Access were $450,000. Interest due at December 31, 2006 on all notes with SCO
      and affiliates was $336,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      these
      notes with SCO and affiliates have a fixed conversion price of $1.10 per share
      of common stock and may be converted by the note holder or us under certain
      circumstances as defined in the note. If the notes are not converted we will
      have to repay the notes on the due dates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Secured Convertible Notes include warrants and a conversion feature. Until
      September 30, 2006 we accounted for the warrants and conversion feature as
      liabilities and recorded at fair value. From the date of issuance to September
      30, 2006, the fair value of these instruments increased resulting in a net
      unrealized loss of $1.1 million. On October&#160;1, 2006, we adopted the
      provisions of EITF 00-19-2, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Accounting
      for Registration Payment Arrangements&#8221; </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(EITF
      00-19-2), which requires that contingent obligations to make future payments
      under a registration payment arrangement be recognized and measured separately
      in accordance with SFAS No.&#160;5, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;Accounting
      for Contingencies.&#8221;</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      Under
      previous guidance, the fair value of the warrant was recorded as a current
      liability in our balance sheet, due to a potential cash payment feature in
      the
      warrant. Access may be required to pay in cash, up to 2% per month, as defined,
      as liquidated damages for failure to file a registration statement timely as
      required by an investor rights agreement. The current liability was
      marked-to-market at each quarter end, using the Black-Scholes option-pricing
      model, with the change being recorded to general and administrative expenses.
      Under the new guidance in EITF 00-19-2, as we believe the likelihood of such
      a
      cash payment to not be probable, have not recognized a liability for such
      obligations. Accordingly, a cumulative-effect adjustment of $1.4 million was
      made as of October&#160;1, 2006 to accumulated deficit, representing the
      difference between the initial value of this warrant and its fair value as
      of
      this date and recorded to equity. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Subsequent
      to the adoption of EITF 00-19-2 on October 1, 2006, the Company has accounted
      for the $6,000,000 notes under EITF Issue No. 00-27, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Application
      of Issue No. 98-5 to Certain Instruments.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      The
      value of the warrants was valued using a Black-Scholes option-pricing model
      with
      the following assumptions with a weighted average volatility of
      120%,</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">expected
      life of 6 years, expected yield of 0% and risk free rate of 5.0%. At December
      31, 2006, approximately $1.6M of</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">debt
      discount related to the warrants and embedded conversion feature had not been
      amortized to interest expense. This will be amortized over the remaining life
      of
      the debt through March 31, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      September 20, 2001, we completed a $600,000 installment loan with a bank. The
      note was paid in full in 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      8 - COMMITMENTS AND CONTINGENCIES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Future
      maturities of the note payable and other obligations are as
      follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="40%">

          <tr>
            <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Future</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Maturities</font></div>
            </td>
            <td align="left" valign="middle" width="4%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Debt</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007</font></div>
            </td>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10,895,000</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2010</font></div>
            </td>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      debt
      of $4,015,000 is discounted and at December 31, 2006 is on the balance sheet
      as
      $3,559,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      debt
      of $6,000,000 is discounted and at December 31, 2006 is on the balance sheet
      as
      $4,394,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">130</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Operating
      Leases</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      December 31, 2006, we have commitments under noncancelable operating leases
      for
      office and research and development facilities until December 31, 2007 totaling
      $75,000. Rent expense for the years ended December 31, 2006, 2005 and 2004
      was
      $94,000, $168,000 and $166,000, respectively. We also have two other
      noncancelable operating leases - one lease for a fire alarm system totaling
      $12,000 ending in 2008 (expensing $7,000 in 2007 and $5,000 in 2008)&#160;and
      one lease&#160;for a copier totaling $48,000 ending in 2011 (with $9,600
      expensed each year).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Legal</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company is not currently subject to any material pending legal
      proceedings.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      9 - STOCKHOLDERS' EQUITY</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Restricted
      Stock Purchase Program</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October 12, 2000, the Board of Directors authorized a Restricted Stock Purchase
      Program. Under the Program, the Company&#8217;s executive officers and corporate
      secretary were given the opportunity to purchase shares of common stock in
      an
      individually designated amount per participant determined by the Compensation
      Committee of the Board of Directors. A total of 38,000 shares were purchased
      under the Program by</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">four
      eligible participants at $27.50 per share, the fair market value of the common
      stock on October 12, 2000, for an aggregate consideration of $1,045,000. The
      purchase price was paid through the participants&#8217; delivery of a 50%-recourse
      promissory note payable to the Company for three executive officer participants
      and a full-recourse promissory note payable to the Company for one participant.
      Each note bears interest at 5.87% compounded semi-annually and has a maximum
      term of ten years. The notes are secured by a pledge of the purchased shares
      to
      the Company. The Company recorded the notes receivable from participants in
      this
      Program of $1,045,000 as a reduction of equity in the Consolidated Balance
      Sheet. Interest on the notes is neither being collected nor accrued. The stock
      granted under the Program is fully vested at December 31, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Warrants</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">There
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      outstanding at December 31, 2006. All warrants were exercisable at December
      31,
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" width="90%">

          <tr>
            <td align="left" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Summary
                of Warrants </font></div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercise
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Price
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expiration
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006
                convertible note (a)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,863,634</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.32</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2/16/12</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006
                convertible note (a)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">386,364</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.32</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10/24/12</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006
                convertible note (a)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">386,364</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.32</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12/06/12</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006
                investor relations advisor (b)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">50,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.70</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12/27/11</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2004
                offering (c)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">89,461</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">35.50</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2/24/09</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2004
                offering (c)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">31,295</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">27.00</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2/24/09</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2003
                financial advisor (d)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14,399</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">19.50</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10/30/08</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2002
                scientific consultant (e)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">24.80</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2/01/09</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2001
                scientific consultant (f)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">15.00</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1/1/08</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="25%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,826,517
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a)&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                connection with the convertible note offerings in 2006, warrants
                to
                purchase a total of 4,636,362 shares of common stock were issued.
                All of
                the warrants are exercisable immediately and expire six years from
                date of
                issue.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">b)&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
                2006, an investor relations advisor received warrants to purchase
                50,000
                shares of common stock at an exercise price of $2.70 per share at
                any time
                from December 27, 2006 until December 27, 2011, for investor relations
                consulting services to be rendered in 2007. All of the warrants were
                exercisable at December 31, 2006. The fair value of the warrants
                was $2.00
                per share on the date of the grant using the Black-Scholes pricing
                model
                with the following assumptions: expected dividend yield 0.0%, risk-free
                interest rate 4.58%, expected volatility 138% and a term of 2.5 years.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">c)&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                connection with offering of common stock in 2004, warrants to purchase
                a
                total of 120,756 shares of common stock were issued. All of the warrants
                are exercisable and expire five years from date of
                issuance.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">131</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">d)&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
                2003, financial advisors received warrants to purchase 14,399 shares
                of
                common stock at any time until October 30, 2008, for financial consulting
                services rendered in 2003 and 2004. All the warrants are exercisable.
                The
                fair value of the warrants was $14.10 per share on the date of the
                grant
                using the Black-Scholes pricing model with the following assumptions:
                expected dividend yield 0.0%, risk-free interest rate 2.9%, expected
                volatility 92% and a term of 5 years.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">e)&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
                2002, a director who is also a scientific advisor received warrants
                to
                purchase 2,000 shares of common stock at an exercise price of $24.55
                per
                share at any time until February 1, 2009, for scientific consulting
                services rendered in 2002. The fair value of the warrants was $18.50
                per
                share on the date of the grant using the Black-Scholes pricing model
                with
                the following assumptions: expected dividend yield 0.0%, risk-free
                interest rate 3.90%, expected volatility 81% and a term of 7 years.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="right" valign="top" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">f)&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
                2001, a director who is also a scientific advisor received warrants
                to
                purchase 3,000 shares of common stock at an exercise price of $15.00
                per
                share at any time until January 1, 2008, for scientific consulting
                services rendered in 2001. The fair value of the warrants was $13.70
                per
                share on the date of the grant using the Black-Scholes pricing model
                with
                the following assumptions: expected dividend yield 0.0%, risk-free
                interest rate 5.03%, expected volatility 118% and a term of 7 years.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>2001
      Restricted Stock Plan</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have a
      restricted stock plan, the 2001 Restricted Stock Plan, as amended, under which
      80,000 shares of our authorized but unissued common stock were reserved for
      issuance to certain employees, directors, consultants and advisors. The
      restricted stock granted under the plan generally vests, 25% two years after
      the
      grant date with additional 25% vesting every anniversary date. All stock is
      vested after five years. At December 31, 2006 there were 27,182 shares issued
      and 52,818 shares available for grant under the 2001 Restricted Stock
      Plan.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      10 - STOCK OPTION PLANS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have
      various stock-based employee compensation plans described below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>2005
      Equity Incentive Plan</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have a
      stock awards plan, (the &#8220;2005 Equity Incentive Plan&#8221;), under which 1,000,000
      shares of our authorized but unissued common stock were reserved for issuance
      to
      employees of, or consultants to, one or more of the Company and its affiliates,
      or to non-employee members of the Board or of any board of directors (or similar
      governing authority) of any affiliate of the Company. The 2005 Equity Incentive
      Plan replaced the previously approved stock option plan (the 1995 Stock Awards
      Plan").</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      2005 Equity Incentive Plan, the fair value of options was estimated at the
      date
      of grant using the Black-Scholes option pricing model with the following
      weighted average assumptions used for grants in fiscal 2006: dividend yield
      of
      0%; volatility of 127%; risk-free interest rate of 4.85%; and expected lives
      of
      1.6 years. The weighted average fair value of options granted was $0.36 per
      share during 2006. The assumptions for grants in fiscal 2005 were: dividend
      yield of 0%; volatility of 113%; risk-free interest rate of 4.71%; and expected
      lives of four years. The weighted average fair value of options granted was
      $8.50 per share during 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Summarized
      information for the 2005 Equity Incentive Plan is as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">average</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">exercise</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Options
                </font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">price</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                options at January 1, 2005</font></div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                -</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted,
                fair value of $8.50 per share</font></div>
            </td>
            <td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">50,000</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="top" width="10%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5.45</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                options at December 31, 2005</font></div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">50,000</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5.45</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted,
                fair value of $ 0.36 per share</font></div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">753,872</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.32</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited</font></div>
            </td>
            <td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,200)</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="top" width="10%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.15</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                options at December 31, 2006</font></div>
            </td>
            <td align="right" valign="top" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">802,672</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.04</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercisable
                at December 31, 2005</font></div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">14,000</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5.45</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercisable
                at December 31, 2006</font></div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">204,718</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="top" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.00</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">132</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      intrinsic value of options under this plan related to the outstanding and
      exercisable options were $1,554,000 and $281,000, respectively, at December
      31,
      2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Further
      information regarding options outstanding under the 2005 Equity Incentive Plan
      at December 31, 2006 is summarized below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="19%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of</font></div>
            </td>
            <td colspan="2" valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted
                average</font></div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of</font></div>
            </td>
            <td colspan="2" valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Weighted
                aververage</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="19%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">options
                </font></div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Remaining</font></div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercise</font></div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">options</font></div>
            </td>
            <td valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Remaining
                </font></div>
            </td>
            <td valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Exercise</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Range
                of excercise prices&#160;&#160;</font></div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">outstanding&#160;</font></div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;life
                in years</font></div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;price</font></div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;exerciseable</font></div>
            </td>
            <td valign="middle" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;life
                in years </font></div>
            </td>
            <td valign="middle" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;price</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="19%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="19%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$0.63
                - 0.85</font></div>
            </td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">717,000</font></div>
            </td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9.6</font></div>
            </td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$0.63</font></div>
            </td>
            <td valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">129,250</font></div>
            </td>
            <td valign="middle" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;9.6</font></div>
            </td>
            <td valign="middle" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$0.63</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="19%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$3.15
                - 5.45</font></div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">85,672</font></div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">8.9</font></div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.49</font></div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">75,468</font></div>
            </td>
            <td valign="middle" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;8.9</font></div>
            </td>
            <td valign="middle" width="9%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;4.36</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="19%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">802,672</font></div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">204,718</font></div>
            </td>
            <td align="left" valign="middle" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>2000
      Special Stock Option Plan</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 11, 2000 we adopted the 2000 Special Stock Option Plan and Agreement
      (the &#8220;Plan&#8221;). The Plan provides for the award of options to purchase 100,000
      shares of the authorized but unissued shares of common stock of the Company.
      At
      December 31, 2006, there were no additional shares available for grant under
      the
      Plan.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      2000 Special Stock Option Plan, 100,000 options were issued in 2000 and are
      outstanding at December 31, 2006. All of the options in the 2000 Special Stock
      Option Plan were exercisable at December 31, 2006, 2005 and 2004. All of the
      options expire on June 30, 2007 and have an exercise price of $12.50 per
      share.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>1995
      Stock Awards Plan</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      1995 Stock Awards Plan, as amended, 500,000 shares of our authorized but
      unissued common stock were reserved for issuance to optionees including
      officers, employees, and other individuals performing services for us. At
      December 31, 2006, there were no additional shares available for grant under
      the
      1995 Stock Awards Plan. A total of 360,917 options were outstanding under this
      plan at December 31, 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Options
      granted under all the plans generally vest ratably over a four to five year
      period and are generally exercisable over a ten-year period from the date of
      grant. Stock options were generally granted with an exercise price equal to
      the
      market value at the date of grant. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      1995 Stock Awards Plan, the fair value of options was estimated at the date
      of
      grant using the Black-Scholes option pricing model with the following weighted
      average assumptions used for grants in fiscal 2005 and 2004, respectively:
      dividend yield of 0% for both periods; volatility of 104% and 41%; risk-free
      interest rates of 4.15% and 3.61%, respectively, and expected lives of four
      years for all periods. The weighted average fair values of options granted
      were
      $6.45 and $10.90 per share during 2005 and 2004, respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">133</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
          <div>&#160;</div>
          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">Summarized
            information for the 1995 Stock Awards Plan is as
            follows:</div>
          <div>&#160;</div>
        </div>
      </div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted-</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">average</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">exercise</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Options</font></div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">price</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                options at January 1, 2004</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">410,725</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                17.25</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted,
                fair value of $10.90 per share</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">62,840</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">28.75</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercised</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(21,939)</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">11.90</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited</font></div>
            </td>
            <td valign="top" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(15,196)</font></div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">21.05</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                options at December 31, 2004</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">436,430</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.80</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted,
                fair value of $6.45 per share</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">49,700</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">12.05</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited</font></div>
            </td>
            <td valign="top" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(55,859)</font></div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">17.30</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                options at December 31, 2005</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">430,271</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.20</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited</font></div>
            </td>
            <td valign="top" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(69,354)</font></div>
            </td>
            <td valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">19.12</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                options at December 31, 2006</font></div>
            </td>
            <td valign="top" width="16%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">360,917</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.03</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercisable
                at December 31, 2004</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">334,232</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.20</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercisable
                at December 31, 2005</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">406,760</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.40</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="48%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercisable
                at December 31, 2006</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">349,990</font></div>
            </td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18.12</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">There
      was
      no intrinsic value related to outstanding or exercisable options under
      this&#160;plan&#160;at December 31, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Further
      information regarding options outstanding under the 1995 Stock Awards Plan
      at
      December 31, 2006 is summarized below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="bottom" width="12%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Range
                of&#160;</font></div>
            </td>
            <td valign="bottom" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of</font></div>
            </td>
            <td colspan="2" valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted
                average</font></div>
            </td>
            <td valign="bottom" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of</font></div>
            </td>
            <td colspan="2" valign="top" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted
                average</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">exercise&#160;</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">shares</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Remaining</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercise</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">shares</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Remaining</font></div>
            </td>
            <td valign="middle" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Exercise
                </font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">prices</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">outstanding</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">life
                in years</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">price</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">exercisable</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">life
                in years</font></div>
            </td>
            <td valign="middle" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Price
                </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$10.00
                - 12.50</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">147,640</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.6</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$11.15</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">139,032</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.3</font></div>
            </td>
            <td valign="middle" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;$11.12</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$14.05
                - 18.65</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">112,717</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.9</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">16.61</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">112,717</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1.9</font></div>
            </td>
            <td valign="middle" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">16.61</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$20.25
                - 34.38</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;
                100,560</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.1</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">29.73</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">98,241</font></div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.0</font></div>
            </td>
            <td valign="middle" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">29.74</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="middle" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;
                360,917</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">349,990</font></div>
            </td>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="middle" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      11 - INCOME TAXES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
      tax expense differs from the statutory amounts as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2004</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
                taxes at U.S. statutory rate</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,378,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(438,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,442,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
                in valuation allowance</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,972,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,051,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">895,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
                in miscellaneous items</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(130,000)</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">397,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">598,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Benefit
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            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">58,000</font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">304,000</font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expenses
                not deductible</font></div>
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            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">240,000</font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">738,000</font></div>
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            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">7,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expiration
                of net operating loss and general </font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">business
                credit carryforwards, net of revisions</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">238,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,050,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,942,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                tax expense</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">134</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
      taxes are provided for the temporary differences between the financial reporting
      bases and the tax bases of our assets and liabilities. The temporary differences
      that give rise to deferred tax assets were as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="8" valign="bottom" width="33%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31,</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2004</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
                tax assets (liabilities)</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                operating loss carryforwards</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                22,634,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                20,261,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" colspan="2" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$
                20,808,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">General
                business credit carryforwards</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,402,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,261,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,094,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
                gain on sale of oral/topical care assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>-</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,490,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Property,
                equipment and goodwill</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">46,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">78,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">259,000
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Gross
                deferred tax assets</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">25,082,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">21,110,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23,161,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Valuation
                allowance</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(25,082,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(21,110,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(23,161,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                deferred taxes</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      December 31, 2006, we had approximately $66,569,000 of net operating loss
      carryforwards and approximately $2,402,000 of general business credit
      carryforwards. These carryforwards expire as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" width="75%">

          <tr>
            <td valign="bottom" width="16%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                operating</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">loss
                carryforwards</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">General
                business</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">credit
                carryforwards</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">994,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">26,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2008</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,004,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">138,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2009</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,661,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">185,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2010</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,171,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">140,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2011</font></div>
            </td>
            <td align="left" valign="middle" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,488,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">13,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="16%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Thereafter</font></div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">53,251,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,900,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="16%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">66,569,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,402,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      a
      result of a merger on January 25, 1996, a change in control occurred for federal
      income tax purposes which limits the utilization of pre-merger net operating
      loss carryforwards of approximately $3,100,000 to approximately $530,000 per
      year.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      12 - QUARTERLY FINANCIAL DATA (UNAUDITED)</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Our
      results of operations by quarter for the years ended December 31, 2006 and
      2005
      were as follows (in thousands, except per share amounts):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="11" valign="bottom" width="45%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006
                Quarter Ended</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">March
                31</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">June
                30</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">September
                30</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                31</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from operations</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,856</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,331</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,015</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,222</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discontinued
                operations</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">550</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4,856</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,331</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,015</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,672</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Basic
                and diluted income/loss per common share</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1.38</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.94</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.57</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.76</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="bottom" width="37%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td colspan="12" valign="bottom" width="46%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005
                Quarter Ended&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" width="35%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">March
                31</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">June
                30</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">September30</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December31</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from operations</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,616</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,988</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,612</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,339</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discontinued
                operations</font></div>
            </td>
            <td align="left" valign="middle" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(806</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(798</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(451</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">7,910</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss/income</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,422</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3,786</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2,063</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,571</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Basic
                and diluted loss per</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">common
                share</font></div>
            </td>
            <td align="left" valign="middle" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">$</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.78</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1.21</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(0.65</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.11</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">135</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>NOTE
      13 - SUBSEQUENT EVENTS (UNAUDITED)</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      March
      30, 2007, Access Pharmaceuticals, Inc.&#160;("Access") and SCO Capital Partners
      LLC and affiliates ("SCO") agreed to extend the maturity date of an aggregate
      of
      $6,000,000 of 7.5% convertible notes to April 27, 2007 from March 31,
      2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 21, 2007 we announced we had entered into a non-binding letter of
      intent to acquire Somanta Pharmaceuticals, Inc. Pursuant to the terms of the
      non-binding letter of intent, upon consummation of the acquisition, Somanta&#8217;s
      preferred and common stockholders would receive an aggregate of 1.5 million
      shares of Access&#8217; common shares which would represent approximately 13% of the
      combined company assuming the conversion of Access&#8217; existing convertible debt
      under existing terms of conversion. The closing of the transaction is subject
      to
      numerous conditions including the execution of a definitive Merger Agreement,
      receipt of necessary approvals as well as completion of our due diligence
      investigation. There can be no assurance that the transaction will be
      consummated or if consummated, that it will be on the terms described
      herein.</font><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
      <div style="PAGE-BREAK-AFTER: always; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">136</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>INDEX
              TO ACCESS UNAUDITED QUARTERLY FINANCIAL STATEMENTS</strong></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ACCESS
              PHARMACEUTICALS, INC. AND SUBSIDIARIES</strong></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Table
              of
              Contents</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">March
              30,
              2007</font></div>
          </div>
          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">FINANCIAL
                        INFORMATION</font></div>
                    </td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Page</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="bottom" width="3%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="bottom" width="59%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="right" valign="bottom" width="6%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Condensed
                        Consolidated Balance Sheets at March 30, 2007 and December
                        31,
                        2006</font></div>
                    </td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">138</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Condensed
                        Consolidated Statements of Operations and Comprehensive Loss
                        for the three
                        months ended March 30, 2007 and March 30, 2006</font></div>
                    </td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">139</div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Condensed
                        Consolidated Statements of Cash Flows for the three months
                        ended March 30,
                        2007 and March 30, 2006</font></div>
                    </td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">140</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notes
                        to Condensed Consolidated Unaudited Quarterly Financial Statements
                        </font></div>
                    </td>
                    <td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">141</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="bottom" width="3%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="bottom" width="59%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="right" valign="bottom" width="6%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div><br></div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">137</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div>&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
          Pharmaceuticals, Inc. and Subsidiaries</strong></font><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Condensed
          Consolidated Balance Sheets</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div align="left">
          <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div>&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div>&#160;</div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">March
                    31, 2007</font>&#160;</div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div>&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div>&#160;</div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">December
                    31,2006</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">ASSETS</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(unaudited)</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(audited)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                    assets</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                    and cash equivalents </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -0.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Short
                    term investments, at cost</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -0.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Receivables
                    </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -0.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prepaid
                    expenses and other current assets</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">359,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,724,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">356,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">357,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,194,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,195,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">359,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">283,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;Total
                    current assets</div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,796,000</font>&#160;</div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,031,000</font>&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Property
                    and equipment, net</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">207,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">212,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Debt
                    issuance costs, net</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">158,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patents,
                    net</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">836,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">878,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Licenses,
                    net</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">12,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">25,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
                    assets</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">25,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">122,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                    assets</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
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                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
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                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">LIABILITIES
                    AND STOCKHOLDERS' DEFICIT</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                    liabilities</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounts
                    payable and accrued expenses</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
                    interest payable</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
                    revenues</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
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                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">March
                    31, 2007 and $2,062,000 at December 31, 2006</font></div>
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                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,232,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">899,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">173,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">10,794,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,226,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">581,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">173,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">8,833,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;Total
                    current liabilities</div>
                </td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="15%">13,098,000&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="15%">10,813,000&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Long-term
                    debt</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                    liabilities</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">18,598,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">16,313,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Commitments
                    and contingencies</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stockholders'
                    deficit</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Preferred
                    stock - $.01 par value; authorized 2,000,000 shares;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">none
                    issued or outstanding</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                    stock - $.01 par value; authorized 100,000,000 shares;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3.9pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">issued,
                    3,535,358 at March 31, 2007 and 3,535,108 at</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                    31, 2006</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Additional
                    paid-in capital</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notes
                    receivable from stockholders</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Treasury
                    stock, at cost - 163 shares</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accumulated
                    deficit </font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">35,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">69,091,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,045,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(81,799,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
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                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                    stockholders' deficit</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(13,722,000</font>&#160;</div>
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                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">)</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(9,887,000</font>&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">)</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                    liabilities and stockholders' deficit</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,876,000</font></div>
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                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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        <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 25.2pt" align="center"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 25.2pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          accompanying notes are an integral part of these statements.</font></div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">138</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div>&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
          Pharmaceuticals, Inc. and Subsidiaries</strong></font></div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Condensed
          Consolidated Statements of Operations</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.6pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(unaudited)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.6pt" align="justify"><br></div>
        <div align="left">
          <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" colspan="5" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Three
                    Months ended March 31,</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expenses</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 6.6pt;">&#160;</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Research
                    and development</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">413,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">756,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">General
                    and administrative</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,139,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">666,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
                    and amortization </font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">75,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">77,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                    expenses</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,627,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,499,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                    from operations</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,627,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,499,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                    and miscellaneous income</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">35,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">92,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                    and other expense</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,535,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,299,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Unrealized
                    loss on fair value of warrants</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,500,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,150,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,357,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                    loss </font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,127,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,856,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Basic
                    and diluted loss per common share</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                    loss allocable to common stockholders</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1.17</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1.38</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted
                    average basic and diluted</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">common
                    shares outstanding</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,535,197</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,528,831</font></div>
                </td>
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              <tr>
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                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          </table>
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        <div style="DISPLAY: block; MARGIN-LEFT: 207pt; TEXT-INDENT: -207pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.6pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.6pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
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        <div><br></div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
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          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">139</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div>&#160;</div>
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        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
          Pharmaceuticals, Inc. and Subsidiaries</strong></font></div>
        <div>&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Condensed
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        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(unaudited)</font></div>
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              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" colspan="5" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Three
                    Months ended March 31,</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007</font></div>
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                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td align="left" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
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                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
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                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,127,000</font></div>
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                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,856,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Adjustments
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                    operating activities:</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
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                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">75,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">77,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                    option expense</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">292,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">95,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                    expense</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">23,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortization
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                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,215,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Unrealized
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                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
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                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Receivables</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
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                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -1.8pt;">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5.4pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prepaid
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                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(74,000</font></div>
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                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">58,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
                    assets</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">35,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounts
                    payable and accrued expenses</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(150,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
                    interest payable</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">318,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">235,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font id="TAB1" style="MARGIN-LEFT: 27pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                    cash used in operating activities </font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,291,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,347,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                    flows from investing activities:</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Capital
                    expenditures</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(15,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Redemptions
                    of short term investments and </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">certificates
                    of deposit</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">471,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(34,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 9pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font id="TAB1" style="MARGIN-LEFT: 27pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                    cash provided by (used in) investing activities</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">456,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(34,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                    flows from financing activities:</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Payments
                    of notes payable</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(37,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
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                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">
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                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
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                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
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              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">
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                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Supplemental
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                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Cash
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                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
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                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
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                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>

          </table>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          accompanying notes are an integral part of these statements.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">&#160;</div>
          <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
              <div id="GLFTR" style="WIDTH: 100%" align="left">
              </div>
            </div>
            <div id="PN" style="PAGE-BREAK-AFTER: always">
              <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">140</font></div>
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
                <hr style="COLOR: black" noshade size="2">
              </div>
            </div>
            <div id="HDR">
              <div id="GLHDR" style="WIDTH: 100%" align="right">
              </div>
            </div>
            <div>&#160;</div>
          </div>
        </div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
          Pharmaceuticals, Inc. and Subsidiaries</strong></font></div>
        <div>&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notes
          to
          Condensed Consolidated Financial Statements</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Three
          Months Ended March 31, 2007 and 2006</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(unaudited)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Interim
          Financial Statements</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          consolidated balance sheet as of March 31, 2007 and the consolidated statements
          of operations and cash flows for the three months ended March 31, 2007
          and 2006
          were prepared by management without audit. In the opinion of management,
          all
          adjustments, consisting only of normal recurring adjustments, except as
          otherwise disclosed, necessary for the fair presentation of the financial
          position, results of operations, and changes in financial position for
          such
          periods, have been made. All share and per share information reflect a
          one for
          five reverse stock split effected on June 5, 2006.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certain
          information and footnote disclosures normally included in financial statements
          prepared in accordance with accounting principles generally accepted in
          the
          United States of America have been condensed or omitted. It is suggested
          that
          these interim financial statements be read in conjunction with the consolidated
          financial statements and notes thereto included in our Annual Report on
          Form
          10-KSB for the year ended December 31, 2006. The results of operations
          for the
          period ended March 31, 2007 are not necessarily indicative of the operating
          results which may be expected for a full year. The consolidated balance
          sheet as
          of December 31, 2006 contains financial information taken from the audited
          financial statements as of that date. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          report of our independent registered public accounting firm for the fiscal
          year
          ended December 31, 2006 contained a fourth explanatory paragraph to reflect
          its
          significant doubt about our ability to continue a going concern as a result
          of
          our history of losses and our liquidity position, as discussed herein and
          in
          this Form 10-QSB. If we are unable to obtain adequate capital funding in
          the
          future, we may not be able to continue as a going concern, which would
          have an
          adverse effect on our business and operations, and investors&#8217; investment in us
          may decline.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Intangible
          Assets</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Intangible
          assets consist of the following (in thousands):</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div>
          <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td colspan="5" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">March
                    31, 2007</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td colspan="5" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                    31, 2006</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Gross</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">carrying</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">value</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="justify" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accumulated</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">amortization</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Gross</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">carrying</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">value</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="justify" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accumulated</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">amortization</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortizable
                    intangible assets</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patents</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Licenses</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font id="TAB1" style="MARGIN-LEFT: 27pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 27pt;"></font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,680</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">500</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 27pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,180</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 3.6pt;"></font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 3.6pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">844</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">488</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 3.6pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,332</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,680</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">500</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,180</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 3.6pt;"></font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 27pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">802</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">475</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 3.6pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,277</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">141</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div>&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortization
          expense related to intangible assets totaled $55,000 for each of the three
          months ended March 31, 2007 and 2006. The aggregate estimated amortization
          expense for intangible assets remaining as of March 31 is as follows (in
          thousands):</font></div>
        <div>&#160;</div>
        <div>&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <table bgcolor="white" cellpadding="0" cellspacing="0" id="ftable" width="30%">

              <tr bgcolor="white">
                <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;2007</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">$</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">138</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;2008</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">168</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;2009</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">168</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;2010</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">168</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;2011</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">168</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: #ffffff solid">&#160;Thereafter</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">38</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="15%" style="BORDER-BOTTOM: #ffffff solid">&#160;Total</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">$</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">848</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Liquidity</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">The
          Company incurred significant losses from continuing operations of $4.1
          million
          for the quarter ended March 31, 2007, $13.3 million for the year ended
          December
          31, 2006 and $7.6 million for the year ended December 31, 2005. Additionally,
          at
          March 31, 2007, our working capital deficit is $9,302,000. As of March
          31, 2007,
          we did</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
          not have
          sufficient funds to repay our convertible notes at their maturity and support
          our working capital and operating requirements. Our current funds will
          allow us
          to support our working capital and operating requirements for six months.
          We do
          not have funds to pay the obligations which are due in June 2007 or September
          2007 and will have to raise more funds and/or attempt to restructure the
          convertible notes.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(4)
          </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Stock
          Based Compensation</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
          the
          first quarter, we recognized stock-based compensation expense of $292,000
          in
          2007 and $95,000 in 2006. For the first quarter, we granted 205,000 stock
          options at weighted average grant prices of $3.30, under the terms of our
          2005
          Equity Incentive Plan and 450,000 stock options at weighted average grant
          prices
          of $2.90, under the terms of our 2007 Special Stock Option Plan.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Our
          weighted average Black-Scholes fair value assumptions are as follows:
</font></div>
        <div align="left">
          <table border="0" cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td width="3%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="justify" valign="middle" width="30%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="justify" valign="bottom" width="3%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="justify" valign="middle" width="10%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="justify" valign="middle" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="justify" valign="bottom" width="3%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="justify" valign="middle" width="10%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="justify" valign="middle" width="3%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td width="3%">&#160;</td>
                <td align="justify" valign="bottom" width="30%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
                </td>
                <td align="justify" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3/31/07</font></div>
                </td>
                <td align="justify" valign="bottom" width="2%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3/31/06</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
              </tr>
              <tr>
                <td width="3%">&#160;</td>
                <td align="justify" valign="top" width="30%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                    life</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
                </td>
                <td align="justify" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.3
                    yrs.</font></div>
                </td>
                <td align="justify" valign="bottom" width="2%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2&#160;yrs.</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
              </tr>
              <tr>
                <td width="3%">&#160;</td>
                <td align="justify" valign="top" width="30%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Risk
                    free interest rate</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
                </td>
                <td align="justify" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.66</font></div>
                </td>
                <td align="justify" valign="bottom" width="2%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">%</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.72</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">%</font></div>
                </td>
              </tr>
              <tr>
                <td width="3%">&#160;</td>
                <td align="justify" valign="top" width="30%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                    volatility</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(a)</sup></font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
                </td>
                <td align="justify" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">137</font></div>
                </td>
                <td align="justify" valign="bottom" width="2%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">%</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">113</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">%</font></div>
                </td>
              </tr>
              <tr>
                <td width="3%">&#160;</td>
                <td align="justify" valign="top" width="30%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                    dividend yield</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
                </td>
                <td align="justify" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.0</font></div>
                </td>
                <td align="justify" valign="bottom" width="2%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">%</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.0</font></div>
                </td>
                <td align="justify" valign="bottom" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">%</font></div>
                </td>
              </tr>
              <tr>
                <td width="3%">&#160;</td>
                <td align="justify" valign="top" width="30%">&#160;</td>
                <td align="justify" valign="bottom" width="3%">&#160;</td>
                <td align="justify" valign="bottom" width="10%">&#160;</td>
                <td align="justify" valign="bottom" width="2%">&#160;</td>
                <td align="justify" valign="bottom" width="3%">&#160;</td>
                <td align="justify" valign="bottom" width="10%">&#160;</td>
                <td align="justify" valign="bottom" width="3%">&#160;</td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td align="justify" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>(a)</sup></font></div>
                </td>
                <td align="justify" valign="top" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Reflects
                    movements in our stock price over the most recent historical
                    period
                    equivalent to the expected life. </font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">142</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(5)
          </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Income
          Taxes</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
          2006,
          the Financial Accounting Standards Board issued FASB Interpretation No.&#160;48
          (FIN 48)</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>,</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
          which
          clarifies the accounting for uncertainty in tax positions. FIN 48 requires
          that
          we recognize in our financial statements the impact of a tax position,
          if that
          position is more likely than not of being sustained on audit, based on
          the
          technical merits of the position. We adopted the provisions of FIN 48 as
          of the
          beginning of our 2007 fiscal year. There was no effect as a result of our
          adoption of FIN 48. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
          of the
          beginning of our 2007 fiscal year, due to our cumulative net losses we
          do not
          have any reserves for income taxes because no taxes are due. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
          file
          income tax returns in the U.S. federal jurisdiction and various state
          jurisdictions. A number of years may elapse before an uncertain tax position
          is
          audited and finally resolved. While it is often difficult to predict the
          final
          outcome or the timing of resolution of any particular uncertain tax position,
          we
          believe that our reserves for income taxes reflect the most probable outcome.
          We
          adjust these reserves, as well as the related interest, in light of changing
          facts and circumstances. Settlement of any particular position would usually
          require the use of cash. The resolution of a matter would be recognized
          as an
          adjustment to our provision for income taxes and our effective tax rate
          in the
          period of resolution. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(7)
          Debt</strong></font><br></div>
        <div align="left">
          <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">March
                    31,</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">December
                    31,</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2006</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Convertible
                    note - Oracle and affiliates</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,015,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,015,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Convertible
                    note </font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Convertible
                    note </font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">880,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">880,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">10,395,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">10,395,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discount</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(101,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(456,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">10,294,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">9,939,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Convertible
                    note - SCO and affiliates</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,000,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,000,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discount</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,606,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,000,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,394,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">16,294,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,333,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Short
                    term</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">10,794,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">8,833,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Long
                    term</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">16,294,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,333,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(8)
          Subsequent Events</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
          April
          26, 2007, Access and SCO Capital Partners LLC and affiliates (&#8220;SCO&#8221;) agreed to
          extend the maturity date of an aggregate principal amount of $6,000,000
          of 7.5%
          convertible notes to June 11, 2007 from April 27, 2007. On April 30, 2007,
          Access and SCO and affiliates agreed to amend an Investor Rights Agreement
          to
          extend the required filing date of a registration statement to the earlier
          of
          the filing of a future registration statement in connection with a qualified
          financing or August 31, 2007.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
          April
          24, 2007, Access and Oracle Partners LP and affiliates (&#8220;Oracle&#8221;) agreed to
          extend the maturity date of an aggregate principal amount of $4,015,000
          of 7.7%
          convertible notes to June 12, 2007 from April 28, 2007.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
          April
          19, 2007 we announced we had entered into an agreement to acquire Somanta
          Pharmaceuticals, Inc. Pursuant to the terms of the merger agreement, upon
          consummation of the acquisition, Somanta&#8217;s preferred and common shareholders
          would receive an aggregate of 1.5 million shares of Access&#8217; common shares which
          would represent approximately 13% of the combined company assuming the
          conversion of Access&#8217; existing convertible debt under existing terms of
          conversion. The closing of the transaction is subject to numerous conditions
          including receipt of necessary approvals including approval of Somanta
          shareholders. There can be no assurance that the transaction will be consummated
          or if consummated that it will be on the terms described
          herein.</font></div>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">143</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>INFORMATION
      ABOUT SOMANTA</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>DESCRIPTION
      OF BUSINESS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Overview</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      is a biopharmaceutical company engaged in the development of drugs primarily
      for
      the treatment of cancer. Somanta in-licenses substances designed for anti-cancer
      therapy in order to advance them along the regulatory and clinical pathway
      toward commercial approval. Somanta&#8217;s licenses are generally worldwide in scope
      and territory, with the exception of its license for Sodium Phenylbutyrate
      which
      is worldwide, excluding the U.S. and Canada. Somanta uses its expertise to
      manage and perform what Somanta believes are the most critical aspects of the
      drug development process which includes the design and conduct of clinical
      trials, the development and execution of strategies for the protection and
      maintenance of intellectual property rights and the interaction with drug
      regulatory authorities internationally. Somanta concentrates on drug development
      and engages in a very limited way in drug discovery, avoiding the significant
      investment of time and financial resources that is generally required before
      a
      compound is identified and brought into clinical trials. Somanta intends to
      out-source clinical trials, pre-clinical testing and the manufacture of clinical
      materials to experienced and qualified third parties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      was originally incorporated in New Jersey in 1991 under the name PRS I, Inc.
      Somanta subsequently changed its name to Service Lube, Inc., then to Fianza
      Commercial Corp. and then to Hibshman Optical Corp. Neither PRS I, Inc., nor
      Service Lube, Inc., nor Fianza Commercial Corp., nor Hibshman Optical Corp.,
      ever engaged in any active business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January 31, 2006, Somanta reincorporated into the State of Delaware under the
      name Somanta Pharmaceuticals, Inc. and acquired Somanta Incorporated through
      the
      merger of a wholly-owned subsidiary with and into Somanta Incorporated. Somanta
      Incorporated was formerly known as Bridge Oncology Products, Inc., which was
      formed on February 10, 2005. On August 22, 2005, Bridge Oncology Products,
      Inc.,
      entered into a Share Exchange Agreement with Somanta Limited, a company
      organized under the laws of England pursuant to which Somanta Limited became
      a
      wholly-owned subsidiary of Bridge Oncology Products, Inc., and Bridge Oncology
      Products, Inc., changed its name to Somanta Incorporated. Somanta Limited was
      formed on April 19, 2001.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prior
      to
      the date of the share exchange between Bridge Oncology Products, Inc., and
      Somanta Limited, each of Bridge Oncology Products, Inc., and Somanta Limited
      were engaged in a limited amount of business. Bridge Oncology Products, Inc.,
      was formed in February 2005, and in February 2005, it entered into the Sodium
      Phenylbutyrate Co-development and Sub-license Agreement with Virium
      Pharmaceuticals, Inc., to develop Sodium Phenylbutyrate outside
      of&#160;&#160;the U.S. and Canada&#160;for the treatment of cancer, autoimmune
      diseases and other clinical indications. It engaged in no other business during
      that period of time.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Although
      Somanta Limited was formed in April of 2001, its primary business prior to
      the
      date of the share exchange with Bridge Oncology Products, Inc., was to secure
      intellectual property rights to the various chemical entities that Somanta
      now
      desires to develop as product candidates. To that end, in November 2001, Somanta
      Limited entered into an Exclusive License Agreement with De Montfort University
      related to Somanta&#8217;s drug development candidate, Alchemix. In January 2002,
      Somanta Limited entered into an Exclusive Patent and Know-how License and Option
      Agreement with Immunodex, Inc. covering Somanta&#8217;s drug product candidates know
      as Phoenix and Angiolix. In October 2003, Somanta Limited entered into an
      agreement with the Cancer Research Institute of Contra Costa for the support
      of
      an academic human clinical trial for Phoenix. In March 2004, Somanta Limited
      entered into an Exclusive Patent and Know-how Assignment and License Agreement
      with the School of Pharmacy, University of London related to Somanta&#8217;s drug
      development candidate known as Prodrax. In March 2004, Somanta Limited entered
      into a Research and Development Agreement with The School of Pharmacy,
      University of London for the purpose of further developing Prodrax. In addition
      to securing the various intellectual property rights related to the agreements
      described above, in August of 2004, Somanta Limited also entered into a Research
      Collaboration and License Agreement with Advanced Cardiovascular Devices, LLC,
      pursuant to which Somanta Limited licensed Advanced Cardiovascular Devices,
      LLC,
      rights to Somanta&#8217;s drug development candidate, Alchemix, solely for use on drug
      eluting stents. In 2001 Somanta Limited entered into a shareholder and
      intellectual property rights agreement with Cypomics, Ltd. pursuant to which
      Somanta Limited was to fund a research and development program of Cypomics,
      Ltd.
      in exchange for a certain amount of capital stock of Cypomics, Ltd. However,
      neither party performed any of its obligations under the agreement and neither
      party is liable to the other party for any such failure to perform. In July
      2005, this agreement was formally terminated.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
      current portfolio of product candidates in academic-investigator-sponsored
      clinical development includes a anti-cancer agents (a small molecule) targeting
      four different tumors and/or stages of cancer. Somanta has three additional
      product development candidates (two small molecules and a monoclonal antibody)
      in pre-clinical development targeting eleven different tumor types.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">144</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table sets forth the eleven types of cancer targeted by each of
      Somanta&#8217;s current product development candidates:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Sodium
                Phenylbutyrate</font></div>
            </td>
            <td align="justify" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Central
                nervous system cancers, particularly glioblastoma
                multiforme</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Myelodysplastic
                syndrome</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Acute
                leukemia</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Colon</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="middle" width="25%">&#160;</td>
            <td align="justify" valign="middle" width="58%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Alchemix</font></div>
            </td>
            <td align="justify" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Central
                nervous system cancers</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Colon</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="58%">
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prodrax</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Esophageal</font></div>
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          <tr>
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            <td align="justify" valign="middle" width="58%">&#160;</td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Angiolix</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Breast</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="justify" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Colorectal</font></div>
            </td>
          </tr>

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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      intends to license the rights to manufacture and market its product candidates
      to other pharmaceutical companies in exchange for license fees and royalty
      payments and to continue to seek other in-licensing opportunities in pursuit
      of
      its business strategy. Somanta does not currently intend to manufacture or
      market products, although Somanta may if the opportunity is available on terms
      that are considered attractive, or Somanta may retain co-development rights
      to
      specific drugs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Strategy</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      is principally focused on the development of drug candidates for the treatment
      of cancer. Somanta seeks to use its product development capabilities to bridge
      discoveries and research from scientific/academic institutions or other
      biopharmaceutical companies, on the one hand, with commercial manufacturing
      and
      marketing of biopharmaceutical products, on the other hand.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      main
      elements of Somanta&#8217;s business strategy are described below:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Identification
      of Product Candidates</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Somanta
      directly performs the scientific evaluation and market assessment of
      biopharmaceutical product candidates and research developments in
      scientific/academic institutions and other biopharmaceutical companies. As
      a
      part of this process, Somanta evaluates the related scientific research and
      pre-clinical and clinical research, if any, and the intellectual property rights
      in such products, with a view to determining the therapeutic and commercial
      potential of the product candidate.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>In-Licensing</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Upon
      identifying a promising product candidate, Somanta seeks to negotiate a license
      to the rights to such product from the holder of those rights, the developer
      or
      researcher. The terms of the licenses vary, but generally Somanta&#8217;s goal is to
      secure licenses that permit Somanta to engage in further development, clinical
      trials, intellectual property protection and further licensing of manufacturing
      and marketing rights to any resulting approved drug product. This process of
      securing license rights to drug products is commonly known as
&#8220;in-licensing.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Further
      Development</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Upon
      in-licensing a product candidate, Somanta&#8217;s strategy is to apply its skills and
      expertise to progress the product candidate toward regulatory approval and
      commercial production and sale in major markets. These activities include
      implementing intellectual property protection and registration strategies,
      performing or having performed, pre-clinical research and testing, the
      formulating or reformulating of product candidates, making regulatory
      submissions, identifying appropriate third parties to conduct clinical trials,
      and undertaking the collection, collation and interpretation of clinical data
      and the submission of data to the relevant drug regulatory authorities in
      compliance with applicable protocols and standards.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">145</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Out-licensing</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Somanta
      generally plans to further license manufacturing and marketing rights to its
      licensed product candidates to other pharmaceuticals companies. This is commonly
      known as &#8220;out-licensing.&#8221; Under Somanta&#8217;s business model, licensees would be
      expected, to the extent necessary, to participate in the remaining clinical
      development required to obtain final regulatory approval for the product
      candidate. Somanta expects that out-licensing would result in licensing fees
      in
      addition to royalties on any sale of the resulting licensed product. Somanta
      believes this model is consistent with current biotechnology and pharmaceutical
      licensing practices. In addition, although out-licensing is Somanta&#8217;s primary
      strategy, Somanta may retain co-development or marketing rights to particular
      product candidates or territories. To date, Somanta has exclusively out-licensed
      one of its product candidates, Alchemix, for application in vascular
      diseases.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      actively searches for new product opportunities using the relationships of
      its
      management and scientific advisory board, and Somanta continuously monitors
      the
      academic and biotechnology environment for cancer treatment
      developments.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      last two fiscal years, Somanta has spent $1,021,923 on research and development
      activities.&#160;From May&#160;1, 2005 to April&#160;30, 2006, Somanta has spent
      $647,888 on research and development activities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cancer
      and Cancer Therapeutic Market</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">According
      to the International Agency for Research on Cancer of the World Health
      Organization, based on available data as of 2005, there were 10.9 million new
      cases of cancer worldwide, 6.7 million deaths, and 24.6 million persons who
      have
      been diagnosed with cancer in the previous five years. China has 20% of the
      world&#8217;s total of new cancer cases (2.2 million) and lung cancer is the most
      common cancer worldwide with 1.35 million new cases (12.4% of the total) and
      1.18 million deaths (17.6% of the total).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      the
      U.S., the American Cancer Society estimates that for 2006 a total of
      1.4&#160;million new cases of cancer will occur and 565,000 deaths will occur
      from cancer. The most prevalent new cancers, which account for approximately
      55%
      of all cancers, are:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="68%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><u>Disease
                Site</u></strong></font></div>
            </td>
            <td width="10%">&#160;</td>
            <td colspan="2" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Estimated&#160;New&#160;</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cases</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="68%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prostate....................................................................................................................</font></div>
            </td>
            <td width="10%">&#160;</td>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">235,000</font></div>
            </td>
            <td width="10%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="68%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Breast.......................................................................................................................</font></div>
            </td>
            <td width="10%">&#160;</td>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">215,000</font></div>
            </td>
            <td width="10%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="68%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lung
                and
                bronchus....................................................................................................</font></div>
            </td>
            <td width="10%">&#160;</td>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">186,000</font></div>
            </td>
            <td width="10%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="68%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Colorectal.................................................................................................................</font></div>
            </td>
            <td width="10%">&#160;</td>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">150,000</font></div>
            </td>
            <td width="10%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="68%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Total
                for All
                Sites</em>:....................................................................................................</font></div>
            </td>
            <td width="10%">&#160;</td>
            <td align="left" valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>1,399,000</em></font></div>
            </td>
            <td width="10%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Bladder,
      ovarian, brain and oral cancers, as well as lymphoma, leukemia and melanoma
      account for a majority of the balance of cancer deaths.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Surgery,
      radiation and chemotherapy remain the principal effective treatments for cancer.
      In addition, although the reason is not clearly understood, current
      chemotherapeutic drugs are effective in only subpopulations of individuals
      with
      the same disease. Revenues in the global oncology market were reported by IMS
      Health to be approximately $35 billion in 2006 and are expected to grow to
      approximately $65 billion by 2010.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Numerous
      new approaches to cancer are in clinical trials. As targets become validated
      and
      technologies improve, research is beginning to yield therapeutic approaches
      that
      appear to be more effective than existing ones. Monoclonal antibodies were
      first
      described in 1978 and are now beginning to yield commercially viable therapeutic
      products. At the current time there are ten monoclonal antibodies approved
      in
      the U.S. for the treatment of cancer including, Avastin </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      Rituxan
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      Campath
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      Herceptin </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      Erbitux
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      Myelotarg </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      Bexxar
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      Zevalin
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><sup>&#174;,
      </sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Vectibix
      &#174; and Lucentis &#174; and five in late stage cancer trials. A second approach to
      cancer treatment, therapeutic cancer vaccines, has been under development for
      many years. Finally, advances in chemotherapeutic drugs have increased their
      ability to overcome chemo resistance.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Regulatory
      Approval Process</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
      ability to market and sell products that may result from the development of
      Somanta&#8217;s product candidates is dependent upon Somanta&#8217;s ability to obtain
      governmental approval of such products in the U.S. and elsewhere. The regulatory
      approval process is administered by the FDA in the U.S., by the European
      Medicines Evaluation Agency, or EMEA, in the European Union and by similar
      agencies in other countries. None of Somanta&#8217;s current product candidates have
      been approved for sale in the U.S. or any foreign market. The process of
      obtaining regulatory clearances or approvals is costly and time-consuming,
      and
      Somanta cannot predict how long the necessary clearances or approvals will
      take
      or whether Somanta will be successful in obtaining them.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">146</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Generally,
      all potential pharmaceutical products must successfully complete two major
      stages of development (pre-clinical and clinical testing) prior to receiving
      marketing approval by the applicable governing regulatory agency. In
      pre-clinical testing, potential compounds are tested both in vitro and in animal
      studies to gain important safety information prior to administration in humans.
      Knowledge is obtained regarding the effects of the compound on bodily functions
      as well as its absorption, distribution, metabolism and
      elimination.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Clinical
      trials are typically conducted in three sequential phases, although the phases
      may overlap. In Phase&#160;I, which frequently begins with the initial
      introduction of the drug into healthy human subjects prior to introduction
      into
      patients, the compound is tested for safety and dosage tolerance. Phase II
      typically involves studies in a larger patient population to identify possible
      adverse effects and safety risks, to begin gathering preliminary efficacy data,
      and to investigate potential dose sizes and schedules. Phase III trials are
      undertaken to further evaluate clinical efficacy and to further test for safety
      within an expanded patient population that will represent the intended clinical
      indication that is being pursued. Each trial is conducted in accordance with
      current good clinical practice standards under protocols that detail the
      objectives of the study, the parameters to be used to monitor safety and the
      efficacy criteria to be evaluated. Each protocol must be submitted to the FDA
      as
      part of the Investigational New Drug, or IND, application. Further, an
      independent Institutional Review Board, or IRB, or ethics committee at each
      clinical center at which the study will be conducted must evaluate and approve
      each clinical study. The review board will consider, among other things, ethical
      factors, the safety of human subjects and the possible liability of the
      institution.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      cannot be certain that Somanta will successfully complete Phase I, Phase II,
      or
      Phase III testing of its product candidates within any specific time period,
      if
      at all. Furthermore, the FDA, the IRB, or Somanta may suspend clinical trials
      at
      any time on various grounds, including a finding that the subjects or patients
      are being exposed to an unacceptable health risk.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Following
      completion of these studies, a New Drug Application, or NDA, must be submitted
      to and approved by the FDA in order to market the product in the U.S. The FDA
      conducts an initial review of each NDA submitted to assess whether it is
      acceptable for filing. The FDA may refuse to file the NDA and may request
      additional information. In this event, the application must be resubmitted
      with
      the additional information. The resubmitted application is also subject to
      review before the FDA accepts it for filing. Once the FDA accepts the NDA for
      filing, the agency begins an in-depth review of the NDA. The FDA has substantial
      discretion in the approval process and may disagree with Somanta&#8217;s
      interpretation of the data submitted in the NDA. The review process may be
      significantly extended by the FDA requests for additional information or
      clarification regarding information already provided. Also, as part of this
      review, the FDA may refer the application to an appropriate advisory committee,
      typically a panel of clinicians, for review, evaluation and a recommendation.
      The FDA&#8217;s response to the NDA will be in the form of an approval letter, or a
      non-approvable letter. Any response from the FDA that is not approval of the
      NDA
      may require Somanta to submit additional information, which may include
      additional clinical data. Even if the FDA approves the NDA, the agency may
      decide later to withdraw product approval if compliance with regulatory
      standards is not maintained or if safety problems occur after the product
      reaches the market. The FDA may require post-approval studies, also known as
      Phase IV studies, to develop additional information regarding the product.
      In
      addition, the FDA requires post-approval adverse event reporting, and the agency
      has the power to require changes in labeling or to prevent further marketing
      of
      a product. The agency may also decide later to withdraw product approval if
      compliance with regulatory standards is not maintained or if safety problems
      occur after the product reaches the market. If and when approval is obtained
      to
      market a product, the FDA&#8217;s regulations (or the applicable foreign agency&#8217;s)
      will then govern manufacturing and commercialization activities.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Satisfaction
      of the above FDA requirements or requirements of state, local and foreign
      regulatory agencies typically takes several years, and the actual time required
      may vary substantially based upon the type, complexity and novelty of the
      pharmaceutical product. Government regulation may delay or prevent marketing
      of
      potential products for a considerable period of time and impose costly
      procedures upon Somanta&#8217;s activities. Somanta cannot be certain that the FDA or
      any other regulatory agency will grant approval for any of Somanta&#8217;s product
      candidates on a timely basis, if at all. Success in preclinical or early-stage
      clinical trials does not assure success in later-stage clinical trials. Data
      obtained from pre-clinical and clinical activities are not always conclusive
      and
      may be susceptible to varying interpretations that could delay, limit or prevent
      regulatory approval. Even if a product receives regulatory approval, the
      approval may be significantly limited to specific indications or uses. Further,
      even after regulatory approval is obtained, later discovery of previously
      unknown problems with a product may result in restrictions on the product or
      even complete withdrawal of the product from the market. Delays in obtaining,
      or
      failures to obtain regulatory approvals would have a material adverse effect
      on
      Somanta&#8217;s business.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, whether or not FDA approval has been obtained, approval of a
      pharmaceutical product by comparable governmental regulatory authorities in
      foreign countries must be obtained prior to the commencement of clinical trials
      and subsequent sales and marketing efforts in those countries. The approval
      procedure varies in complexity from country to country, and the time required
      may be longer or shorter than that required for FDA approval. Somanta may incur
      significant costs to comply with these laws and regulations now or in the
      future.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">147</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      example, in order to gain marketing approval in the E.U., Somanta must submit
      a
      dossier to the relevant authority for review, which is known in the E.U. as
      a
      Marketing Authorization Application (&#8220;MAA&#8221;) and is submitted to the European
      Medicines Evaluation Agency in Europe. The format is usually specific and laid
      out by each authority, although in general it will include information on the
      quality of the chemistry, manufacturing and pharmaceutical aspects of the
      product as well as the non-clinical and clinical data.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Approval
      can take several months to several years, or can be denied. The approval process
      can be affected by a number of factors. Additional studies or clinical trials
      may be requested during the review and may delay marketing approval and involve
      unbudgeted costs. The regulatory authorities may conduct an inspection of
      relevant facilities and review manufacturing procedures, operating systems
      and
      personnel qualifications. In addition to obtaining approval for each product,
      in
      many cases each drug manufacturing facility must be approved. Further
      inspections may occur over the life of the product. An inspection of the
      clinical investigation sites by a competent authority may be required as part
      of
      the regulatory approval procedure. As a condition of marketing approval, the
      regulatory agency may require post-marketing surveillance to monitor for adverse
      effects, or other additional studies as deemed appropriate. After approval
      for
      the initial indication, further clinical studies are usually necessary to gain
      approval for any additional indications. The terms of any approval, including
      labeling content, may be more restrictive than expected and could affect the
      marketability of a product.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Failure
      to comply with applicable regulatory requirements after obtaining regulatory
      approval can, among other things, result in the suspension of regulatory
      approval, as well as possible civil and criminal sanctions. Renewals in Europe
      may require additional data, which may result in a license being withdrawn.
      In
      the E.U., regulators have the authority to revoke, suspend or withdraw approvals
      of previously approved products, to prevent companies and individuals from
      participating in the drug approval process, to request recalls, to seize
      violative products and to obtain injunctions to close manufacturing plants
      not
      operating in conformity with regulatory requirements and to stop shipments
      of
      violative products.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      MAA
      review and approval process typically takes one to several years for approval,
      rejection, or approval subject to completion of additional requirements imposed
      on the corporation by the regulatory agencies at the time of review
      completion.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Products
      in Academic Investigator-Sponsored Clinical Development</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Sodium
      Phenylbutyrate</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Overview</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Sodium
      Phenylbutyrate, or PB, is a small molecule that was previously approved by
      the
      FDA for sale as a treatment for a rare genetic disorder in infants known as
      hyperuremia.&#160;PB has a number of additional mechanisms of action, including
      the inhibition of histone deacetylase.&#160;Histone deacetylase is a class of
      enzymes that remove acetyl groups from the amino acids in DNA.&#160;The
      inhibition of histone deacetylase allows the body&#8217;s cancer suppressing genes to
      work as intended.&#160;In addition, PB is not toxic to cells.&#160;These
      characteristics make PB a good candidate to become a chemopotentiator.&#160;A
      chemopotentiator is a substance that enhances the activity of a chemotherapeutic
      agent.&#160;As a result, PB is designed to be administered in conjunction with
      radiation and chemotherapy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>In-License
      for PB</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;In
      February 2005, Somanta entered into a Phenylbutyrate Co-development and
      Sublicense Agreement with Virium Pharmaceuticals, Inc., pursuant to which Virium
      granted Somanta an exclusive, worldwide sublicense to PB, excluding the U.S.
      and
      Canada, for the treatment of cancer, autoimmune diseases and other clinical
      indications. Somanta paid Virium a license fee of $50,000. Virium has retained
      all rights with respect to PB inside the U.S. and Canada.&#160;Note that
      Somanta&#8217;s single largest stockholder, SCO Capital Partners, LLC, is also the
      single largest stockholder of Virium Pharmaceuticals, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Virium
      is
      also a party to a sublicense agreement with VectraMed, Inc. for the rights
      to
      develop and commercialize PB worldwide for the treatment of cancer, autoimmune
      diseases and other clinical indications. VectraMed obtained its rights to the
      product under an Exclusive Patent License Agreement dated May 25, 1995 with
      the
      U.S. Public Health Service, representing the National Institutes of Health.
      VectraMed subsequently assigned all its rights to PB to Virium pursuant to
      a
      novation agreement dated May 10, 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
      to Somanta&#8217;s agreement with Virium, Somanta is responsible for the conduct of
      clinical trials and patent prosecution related to PB outside of the U.S. and
      Canada. The Virium agreement also requires Somanta to pay Virium a royalty
      on
      the sales of PB products until such time as the patents covering such products
      expire.&#160;These patents expire at various times between 2011 and 2016.
      Somanta&#8217;s agreement with Virium expires upon the expiration of the last to
      expire of these patents in 2016.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">148</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;Somanta&#8217;s
      agreement with Virium does not fully comply with the sublicensing requirements

      set forth in Virium&#8217;s agreement with the National Institutes of Health because
      it does not expressly incorporate by reference all of the relevant sections
      of
      Virium&#8217;s license with NIH.&#160;Somanta is currently seeking to amend its
      agreement with Virium to bring it into full compliance with such sublicensing
      requirements and to permit Somanta to become a direct licensee of the NIH,
      should Virium default on its license with the NIH. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October&#160;20, 2006, NIH conditionally consented to the sublicense to Somanta.
      However, the NIH conditions include an amendment to the Virium license to
      reflect an updated Virium development plan and milestones, the payment of
      $216,971 in past due patent expenses and the payment of a $5,000 sublicense
      royalty. Based on the information provided by NIH, it appears that about
      $200,000 relates to foreign patent expenses for calendar 2005 which would be
      Somanta &#8216;s responsibility under its license agreement with Virium. Of that
      amount, approximately $12,000 relates to foreign patent maintenance fees and
      $197,000 largely relates to foreign patent legal expenses. Somanta accrued
      approximately $38,700 as patent annuity and legal expense for the year ended
      April 30, 2007. Virium advised Somanta that they satisfied two of the three
      conditions to obtaining final NIH approval for Somanta&#8217;s sublicense. Virium is
      in the process of negotiating an installment payment plan with respect to the
      past due patent expenses.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December 6, 2006, Somanta signed a letter of intent (LOI) pertaining to a
      license and collaboration agreement with Virium covering all formulations or
      drug combinations where Phenylbutyrate is an active ingredient. Pursuant to
      the
      LOI, in addition to current worldwide rights, excluding North America, involving
      the current formulation of Phenylbutyrate, Somanta would obtain a participation
      in any revenue or royalties derived from sales in the U.S. and Canada. In
      return, Somanta would grant Virium a reciprocal participation in Europe. In
      the
      rest of the world, Somanta and Virium would share revenues and royalties
      equally. The LOI&#8217;s terms provide that both companies will, among other things,
      share data and jointly undertake the necessary pre-clinical and clinical
      studies, seek regulatory approvals and file for patent protection in all
      territories. It also provides for the formation of a joint development committee
      to oversee all aspects of the development and commercialization of
      Phenylbutyrate. Completion of the transaction contemplated by the LOI remains
      subject to the negotiation and execution of a definitive agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Clinical
      Status</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;To
      date, Somanta has not been involved in any capacity in the conduct of any
      clinical trial related to PB.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Rationale</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Somanta
      believes that PB may be a candidate to become a biological-response modifier
      that acts as a dose-dependent inhibitor of cancer cell proliferation, migration,
      and invasiveness, possibly by inhibition of urokinase and c-myc pathways, which
      means that it inhibits the protease activity that irreversibly induces
      programmed cell death. In addition, Somanta believes that PB shows potential
      for
      the treatment of malignant gliomas, which are cancers of the brain.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Competitive
      Position</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Somanta
      is aware of numerous products in development for brain cancers. Somanta is
      aware
      of several products being developed by academic and commercial organizations
      targeting glioblastoma. Medicis Pharmaceuticals currently sells Sodium
      Phenylbutyrate (Buphenyl </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      ) for
      the treatment of a urea cycle disorder, hyperuremia.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">There
      are
      thirteen key use patents related to PB which have been issued as
      follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of inhibiting rapid tumor growth issued
                in the
                U.S. that expires on March&#160;14, 2014 with foreign counterparts in
                Austria, Australia, Canada, Germany, European Union, Spain, Israel,
                New
                Zealand and South Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
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            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of treating brain cancer, leukemia, prostate
                cancer, breast cancer, skin cancer and non-small cell lung cancer
                issued
                in the U.S. that expires on June 3, 2014 with foreign counterparts
                in
                Austria, Australia, Canada, Germany, European Union, Spain, Israel,
                Japan,
                New Zealand, Portugal and South
                Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of treating brain cancer, skin cancer, benign
                enlarged prostate and a cervical infection issued in the U.S. that
                expires
                on February 25, 2014 with foreign counterparts in Austria, Australia,
                Canada, Germany, European Union, Spain, Israel, Japan, New Zealand,
                Portugal and South Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of inducing the production of TGF alpha
                (which
                slows the growth of cancer cells) issued in the U.S. that expires
                on
                January 13, 2015 with foreign counterparts in Austria, Australia,
                Canada,
                Germany, European Union, Spain, Israel, Japan, New Zealand, Portugal
                and
                South Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">149</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a pharmaceutical composition for treating or preventing
                a
                cancerous condition issued in the U.S. that expires on January 20,
                2015
                with foreign counterparts in Austria, Australia, Canada, Germany,
                European
                Union, Spain, Israel, Japan, New Zealand, Portugal and South
                Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of inducing the differentiation of a cell
                issued
                in the U.S. that expires on June 3, 2014 with foreign counterparts
                in
                Austria, Australia, Canada, Germany, European Union, Spain, Israel,
                Japan,
                New Zealand, Portugal and South
                Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of treating brain cancer, non-small cell
                lung
                cancer, prostate cancer, skin cancer, brain tumors, cancers of the
                blood,
                lung cancer and breast cancer issued in the U.S. that expires on
                August
                26, 2014 with foreign counterparts in Austria, Australia, Canada,
                Germany,
                European Union, Spain, Israel, Japan, New Zealand, Portugal and South
                Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of inhibiting the growth of rapidly growing
                nonmalignant or malignant tumor cells issued in the U.S. that expires
                on
                March 2, 2016 with foreign counterparts in Austria, Australia, Canada,
                Germany, European Union, Spain, Israel, Japan, New Zealand, Portugal
                and
                South Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of sensitizing a subject to radiation therapy
                or
                chemotherapy and a method of treating brain cancer, leukemia, non-small
                cell lung cancer, skin cancer, cancers of the blood, lung cancer,
                or renal
                cancer issued in the U.S. that expires on December 1, 2015 with foreign
                counterparts in Austria, Australia, Canada, Germany, European Union,
                Spain, Israel, Japan, New Zealand, Portugal and South
                Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of treating brain cancer, non-small cell
                lung
                cancer, prostate cancer, skin cancer, cancers of the blood, breast
                cancer,
                benign prostate enlargement, cervical infection, bladder cancer,
                kidney
                cancer, colon cancer, or nose cancer issued in the U.S. that expires
                on
                March 16, 2016 with foreign counterparts in Austria, Australia, Canada,
                Germany, European Union, Spain, Israel, Japan, New Zealand, Portugal
                and
                South Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
            </td>
            <td align="left" valign="top" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="77%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
                patent covering a method of inducing the production of hemoglobin
                (blood)
                and a method of treating a pathology associated with abnormal hemoglobin
                (blood) activity issued in the U.S. that expires on January 27, 2015
                with
                foreign counterparts in Austria, Australia, Canada, Germany, European
                Union, Spain, Israel, Japan, New Zealand, Portugal and South
                Africa;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0.8pt" align="left">&#160;</div>
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                patent covering a method of preventing prostate cancer, brain cancer,
                skin
                cancer, cancers of the blood, breast cancer, non-small cell lung
                cancer,
                or renal cancer issued in the U.S. that expires on August 5, 2014
                with
                foreign counterparts in Austria, Australia, Canada, Germany, European
                Union, Spain, Israel, Japan, New Zealand, Portugal and South Africa;
                and</font></div>
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                patent covering a method of inhibiting the production of cancer in
                a cell
                issued in the U.S. that expires on March 14, 2011, June 3, 2013 or
                March
                7, 2014, depending on the subject matter disclosed in the priority
                applications with foreign counterparts in Austria, Australia, Canada,
                Germany, European Union, Spain, Israel, Japan, New Zealand, Portugal
                and
                South Africa.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Development
      Plan</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Somanta&#8217;s
      co-development partner, Virium advised Somanta that it intends to initiate
      a
      Phase I/II clinical trial using PB to treat glioblastoma in the near future.
      Somanta intends to wait for the results of this Phase I/II clinical trial and
      the re-formulation of the PB compound to a sustained release version before
      initiating Somanta&#8217;s own clinical trial related to PB in Europe.&#160;At this
      time, Somanta does not know when Virium will initiate such clinical trial or
      when it will be completed, nor does Somanta know when Virium will have completed
      the re-formulation of the PB compound to a sustained release
      version.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      also believes that further studies should be considered to identify a subset
      of
      patients that have tumors sensitive to PB, either as a single agent or in
      combination with radiation therapy or other chemotherapeutic agents, and that
      Somanta should focus on this subset of patients in Somanta&#8217;s future clinical
      trials related to PB.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">150</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      </div>
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      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Products
      in Pre-Clinical Development</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Alchemix</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Overview</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Alchemix,
      or chloroethylaminoanthraquinone, is a small molecule that is toxic to cancer
      cells.&#160;Alchemix is intended to interrupt all phases of the cancer cell
      growth cycle by selectively binding to DNA and inhibiting many DNA processing
      enzymes to overcome drug resistant tumors.&#160;Somanta believes that Alchemix
      is toxic to cancer cells due to its selective inhibition of many DNA processing
      enzymes and that it is as well tolerated in animals as a number of classes
      of
      approved chemotherapeutic drugs such as epirubicin and cisplatin, meaning that
      it resulted in no more adverse side effects than such approved
      chemotherapeutics.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Agreement
      Related to Alchemix</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;In
      November 2001, Somanta entered into a Patent and Know-how Assignment and License
      Agreement with De Montfort University pursuant to which De Montfort University
      agreed to assign to Somanta the key patent related to Alchemix and to
      exclusively license to Somanta certain know-how related to Alchemix for use
      in
      field of the treatment of cancer. In March 2003, Somanta amended and restated
      that agreement to extend the time period in which the assignment and license
      to
      Somanta would be triggered. In October 2005, De Montfort University formally
      assigned the patent that covers Alchemix to Somanta. Pursuant to Somanta&#8217;s
      agreement with De Montfort</font><a name="eolPage41"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      University, Somanta paid De Montfort an initial assignment fee of $42,815 and
      issued to De Montfort 219,010 shares of Somanta&#8217;s common stock valued at $4,677.
      Although Somanta is not obligated to make any royalty payments to De Montfort
      based on the sale of any product that is based on Alchemix, Somanta is obligated
      to pay De Montfort certain milestone payments based on the achievement of agreed
      upon clinical milestones. If Somanta successfully achieve each of these
      milestones, Somanta would be obligated to pay De Montfort a total aggregate
      amount of milestone payments of GBP 250,000, or approximately $500,000. Somanta
      is obligated to use its commercial best efforts to achieve these agreed upon
      clinical milestones. In addition, Somanta has the right to terminate its
      agreement with the De Montfort on ninety (90) days advance notice, and either
      party has the right to terminate the agreement for breach by the other party
      upon ninety (90) days (sixty (60) days for payment failures) advance notice
      if
      such breach is not cured within the notice period. Somanta&#8217;s agreement with De
      Montfort expires upon the expiration of the last to expire of these patents
      in
      2015.</font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Rationale</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Somanta
      believes that Alchemix selectively inhibits specific DNA processing enzymes
      that
      are required for cancer cells to divide and grow, which appears to be unique
      among anthraquinones, the class of small molecules to which Alchemix belongs.
      This leads Somanta to believe that Alchemix may also react with certain other
      DNA processing enzymes required for the cell to progress through the cell life
      cycle, although the direct evidence only demonstrates its interaction with
      certain specific DNA processing enzymes.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Competitive
      Position</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Somanta
      is not aware of any other organization developing a drug similar to Alchemix.
      Several groups are developing agents against p-glycoprotein, which is only
      one
      of the identified mechanisms of drug resistance within cells, and other groups
      are developing agents that have the potential to become chemosensitisers, which
      means they will make cancer cells more sensitive to the effects of
      chemotherapy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      key
      patent relating to Alchemix has been issued in the U.S, the European Union
      and
      in Australia. In general, it covers composition of matter. The U S patent will
      expire in 2015.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Development
      Plan</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      In 2005
      and 2006, Somanta prepared a detailed pre-clinical and clinical development
      plan
      related to Alchemix. Somanta intends to manufacture, undertake pre-clinical
      studies and, based on the results of these studies, to initiate a Phase I/II
      clinical trial with respect to Alchemix within the next twelve months. To date,
      Somanta has contacted a contract manufacturing organization to undertake the
      process development for the manufacture of Alchemix and have evaluated a number
      of qualified contract manufacturing organizations with respect to the production
      of sufficient quantities of Alchemix for Somanta&#8217;s pre-clinical studies,
      formulation studies and for Somanta&#8217;s proposed human clinical trial. In March
      2006, Somanta entered into a two year agreement with the University of Bradford
      to continue these pre-clinical studies. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Out-License
      of Alchemix</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      In
      August 2004, Somanta entered into a Research Collaboration and License Agreement
      with Advanced Cardiovascular Devices, LLC. Under this agreement, Somanta granted
      Advanced Cardiovascular Devices an exclusive, worldwide license to Alchemix
      solely for use in the treatment of vascular disorders or proliferations using
      stents and other medical devices. The term of this agreement expires when the
      underlying patent expires in 2015. Pursuant to this agreement, Advanced
      Cardiovascular Devices paid Somanta an upfront fee of $10,000. In addition,
      Advanced Cardiovascular Devices is obligated to develop a product based on
      Alchemix pursuant to an agreed upon timetable. If Advanced Cardiovascular
      Devices fails to achieve any of the agreed upon milestones, Somanta would then
      have the right to terminate the agreement; provided, however, that Advanced
      Cardiovascular Devices could prevent Somanta from so terminating the agreement
      with respect to the applicable failure by paying Somanta a fee not to exceed
      $500,000 to reinstate its rights under the agreement. In addition, Advanced
      Cardiovascular Devices is also obligated to pay Somanta a royalty based on
      net
      sales, if any, of products based on Alchemix. Either party may terminate this
      agreement on thirty (30) days advance notice for breach by the other party
      if
      the breach is not cured within such thirty (30) day period. In addition, Advance
      Cardiovascular Devices may terminate the agreement upon written notice to
      Somanta and without any further obligation to Somanta if the licensed technology
      does not perform to the reasonable satisfaction of Advanced Cardiovascular
      Devices or cannot be commercialized because of safety or efficacy reasons or
      because Advanced Cardiovascular Devices is unable to raise the funds necessary
      to develop a product based on the licensed technology.</font></div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Prodrax</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Overview</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Prodrax
      (di-N-oxides of chloroethylaminoanthraquinone) is a small molecule that is
      non-toxic in normally oxygenated healthy tissue but that becomes highly toxic
      in
      low oxygen tumors where it binds to the DNA in tumor cells and becomes
      irreversibly converted to its toxic form.&#160;It is in this state that tumor
      cells are killed by the Prodrax they are carried out through potent DNA
      damage.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prodrax
      is both a specific chemical entity and a platform technology to make other
      drugs
      that are intended to induce cancer cell death more effective.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>In-License
      for Prodrax</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      In
      March 2004, Somanta entered into a Patent and Know-how Assignment and License
      Option Agreement with The School of Pharmacy, University of London pursuant
      to
      which The School of Pharmacy granted Somanta an option to acquire the rights
      to
      the key patent application related to Prodrax and an exclusive worldwide license
      to the know-how related to Prodrax to develop and commercialize Prodrax in
      the
      field of the treatment of cancer. Pursuant to this agreement, Somanta paid
      The
      School of Pharmacy an initial option fee of $44,575 and issued to The School
      of
      Pharmacy 131,505 shares of Somanta&#8217;s common stock valued at $2,630. In September
      2005, The School of Pharmacy formally assigned the rights to the key patent
      application to Somanta and licensed to Somanta the relevant know-how in the
      field of the treatment of cancer. Somanta is currently pursuing the prosecution
      of this patent application. Somanta is obligated to pay The School of Pharmacy
      certain milestone payments based on the achievement of agreed upon clinical
      milestones with respect to Prodrax. If Somanta successfully achieves each of
      these milestones, Somanta would be obligated to pay The School of Pharmacy
      a
      total aggregate amount of milestone payments of GBP 275,000, or approximately
      $500,000. Somanta is obligated to use its commercial best efforts to achieve
      these agreed upon clinical milestones. If Somanta fails to: (i) commence Phase
      I
      clinical trials prior to September 21, 2009, (ii) commence Phase II clinical
      trials prior to September 21, 2011, (iii) commence Phase III clinical trials
      prior to September 21, 2013, (iv) complete its report with respect to such
      Phase
      III clinical trials prior to September 21, 2015, (v) receive regulatory approval
      by the U.S. FDA, the EMEA in the European Union, or the applicable regulatory
      body in Japan, in each case, enabling Somanta to market and sell Prodrax in
      the
      applicable jurisdiction prior to September 21, 2017, or (vi) make a first
      commercial sale of Prodrax prior to September 21, 2018, then, in each case,
      The
      School of Pharmacy would have the right to terminate Somanta&#8217;s know-how license
      under the agreement. In addition, Somanta is obligated to pay The School of
      Pharmacy a royalty on net sales, if any, of products based on Prodrax. In
      addition, Somanta has the right to terminate its agreement with The School
      of
      Pharmacy on ninety (90) days advance notice, and either party has the right
      to
      terminate the agreement for breach by the other party upon ninety (90) days
      (sixty (60) days for payment failures) advance notice if such breach is not
      cured within the notice period. Somanta&#8217;s agreement with The School of Pharmacy
      expires upon the expiration of the last to expire of the patents, if any, that
      issue from the patent application that is the subject of Somanta&#8217;s agreement
      with The School of Pharmacy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Rationale</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Prodrax
      is inert in normally oxygenated cells and becomes toxic in low oxygen areas,
      enabling it to kill tumor cells. Many solid tumors have a low oxygen area that
      is resistant to radiation and conventional chemotherapy. These cells repopulate
      the tumor with additional radiation- and conventional chemotherapy-resistant
      cells. These cells are often referred to as quiescent.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prodrax
      becomes irreversibly converted to its toxic form in low oxygen tumor cells
      where
      it remains localized. When the surrounding oxygenated cells are killed by
      radiotherapy or chemotherapy, these Prodrax-containing quiescent cells move
      closer to the oxygen source and attempt to resume more active
      replication.&#160;It is in this state that they are killed by Prodrax, through
      potent DNA damage.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">When
      given in conjunction with radiotherapy or chemotherapy Somanta expects Prodrax
      to result in significant improvement of tumor clearance and to reduce the
      likelihood of tumor repopulation, improving disease free survival. It is
      estimated that over 50% of all solid tumors exhibit clinically significant
      hypoxia, or low oxygenation, and that over two million people in the U.S. and
      Europe suffer from solid tumor cancers. If successful, Prodrax could improve
      the
      prognosis for a significant number of cancer sufferers in a wide range of tumor
      types.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="eolPage43"/>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Competitive
      Position</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Somanta
      is aware that Novocea, Inc., has exclusively licensed from KuDOS
      Pharmaceuticals, a subsidiary of Astra Zeneca, a small molecule prodrug that
      is
      selectively activated by low oxygen tumors that is similar to Somanta&#8217;s Prodrax,
      and that Novocea is developing this small molecule prodrug in a similar fashion
      to Prodrax.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      key
      composition of matter patent application relating to Prodrax was filed in
      December 2003 in the European Union, Taiwan, Australia, Canada, China, India,
      Japan, South Africa and the U.S.</font></div>
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      </div>
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        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Development
      Plan</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      In
      2004, Somanta entered into a research and development agreement with The School
      of Pharmacy, University of London to further evaluate Prodrax in pre-clinical
      studies and funded research there in 2004 and 2005. In 2005, the applicable
      investigators left the School of Pharmacy and joined the University of Bradford.
      As a result, Somanta terminated its agreement with The School of Pharmacy.
      In
      March 2006, Somanta entered into a two year agreement with the University of
      Bradford to continue these pre-clinical studies.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Prodrax technology allows for the modification of various drugs to make them
      inert until they are activated by a low oxygen environment. Varieties of
      analogues have been developed and are being tested by researchers at the
      University of Bradford for the purpose of enabling Somanta to select the lead
      compound to take forward into clinical development. Somanta expects to select
      a
      lead compound in 2007. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Angiolix</em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Background</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Angiolix
      (huMc-3 mAB) is a humanized monoclonal antibody targeting a protein known as
      Lactadherin. Lactadherin promotes the growth of new blood vessels to support
      tumor growth. Angiolix, by blocking Lactadherin, has the potential to induce
      programmed cell death, or apoptosis, in blood vessels supporting
      tumors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>In-License
      for Angiolix</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      In
      August 2005, Somanta entered into a Patent and Know-how Exclusive Sublicense
      Agreement with Immunodex, Inc. pursuant to which Immunodex granted Somanta
      the
      exclusive worldwide rights to two monoclonal antibodies including Somanta&#8217;s
      product development candidate, Angiolix, for the development and
      commercialization of products in the field of the treatment of cancer. Pursuant
      to this agreement, Somanta paid Immunodex an initial license fee of
      $300,000.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Previously
      on January 25, 2002, Somanta entered into a predecessor Patent Know-how and
      License Option Agreement with Immunodex which had essentially the same terms
      and
      conditions as Somanta&#8217;s existing agreement with Immunodex but which was
      superseded by its existing agreement with Immunodex. Pursuant to the
      2002</font><a name="eolPage36"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      agreement, Somanta paid Immunodex an initial license fee of $10,000 and sold
      Immunodex 292,012 shares of Somanta&#8217;s common stock at a value of $5,638.
      Pursuant to the August 2005 agreement Somanta is obligated to pay Immunodex
      an
      annual license maintenance fee. The license maintenance fee is $250,000 per
      year
      until such time as one of the product candidates receives regulatory approval
      to
      be marketed and sold at which time the license maintenance fee is reduced to
      $100,000 per year. Somanta&#8217;s obligation to pay this annual license maintenance
      fee terminates in its entirety at such time as Somanta is selling products
      based
      on both the monoclonal antibodies. This obligation also terminates if Somanta
      terminates the agreement with respect to both product candidates, subject to
      Somanta&#8217;s obligation to pay the termination fee described below. As noted below,
      on November 3,2006 Somanta terminated its license with respect to one of the
      monoclonal antibodies (huBrE-3 mAb), and continue to develop on Angiolix.
</font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Assuming
      that Somanta begins to sell products based on Angiolix fifteen (15) years after
      the date of the August 2005 agreement, or August 2020, which is Somanta&#8217;s
      anticipated development timetable, Somanta would have to pay to Immunodex an
      additional $2,600,000 in maintenance fees during that time period. In addition,
      Somanta is obligated to pay Immunodex a royalty based on the net sales, if
      any,
      of products based on Angiolix. Further, Somanta is obligated to develop Angiolix
      on an agreed upon timetable. If Somanta fails to achieve any of the agreed
      upon
      clinical development and regulatory milestones, Immunodex would then have the
      right to terminate the August 2005 agreement, and if such a termination occurs,
      Somanta would be obligated to pay Immunodex a termination fee of up to $500,000.
      Somanta is also entitled to terminate the agreement with respect to Angiolix
      upon ninety (90) days advance notice to Immunodex. If Somanta does so without
      cause, Somanta would also be required to pay a termination fee of up to
      $500,000. Notwithstanding the foregoing, Somanta does not have to pay a
      termination fee with respect to Angiolix if the agreement is terminated due
      to:
      (i) negative results of toxicity testing for the applicable drug candidate
      that
      the FDA indicates would preclude further testing of such drug candidate, (ii)
      a
      third party being granted orphan drug status by the FDA for a drug that would
      preclude Somanta from receiving orphan drug status with respect to the
      applicable drug candidate, or (iii) Somanta&#8217;s inability to achieve commercially
      viable yields with respect to the manufacture of the applicable drug
      candidate.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      Somanta sublicenses its rights with respect to Angiolix, Somanta would be
      obligated to pay to Immunodex a sublicensing fee not to exceed $1,000,000 for
      each such sublicense granted based on payments received from each such
      sublicensee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      term
      of the August 2005 agreement expires on the later to occur of: (i) the
      expiration of the last to expire licensed patent, or (ii) fifteen (15) years
      after the first commercial sale of a product covered by the licensed patents.
      The August 2005 agreement superseded prior agreements with Immunodex dated
      January 25, 2002, March&#160;1, 2002 and September 17, 2002, in each case
      related to the same subject matter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      February 2006, Somanta made a deposit of $150,000 into an escrow account
      pursuant to the agreement. This amount was released on November&#160;7, 2006.
</font></div>
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      </div>
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      </div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effective
      November&#160;3, 2006, Somanta entered into a Side Amendment to Patent and
      Know-how Exclusive Sublicense Agreement with Immunodex and the Cancer Research
      Institute of Contra Costa (&#8220;CRICC&#8221;) (the &#8220;Side Amendment&#8221;).&#160;Pursuant to the
      Side Amendment, Somanta has agreed with Immunodex and CRICC to reduce the amount
      of the annual maintenance fee under the License Agreement from $250,000 to
      $200,000 and to defer the annual maintenance fee that was due in August, 2006
      until the earlier of (i)&#160;the closing of a fundraising resulting in gross
      proceeds to Somanta of at least $5,000,000, or (ii)&#160;January&#160;31, 2007
      (the &#8220;2006 Annual Maintenance Fee&#8221;). If Somanta is unable to timely pay the 2006
      Annual Maintenance Fee, the annual maintenance fee due under the License
      Agreement would revert to $250,000. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      retained its rights with respect to huMc-3 mAb and its product candidate
      Angiolix; however, Somanta agreed to suspend the development of Angiolix until
      such time as Somanta pays the 2006 Annual Maintenance Fee. In addition, each
      of
      the product development milestones with respect to Angiolix set forth in the
      License Agreement has been reset to begin at such time as Somanta makes the
      2006
      Annual Maintenance Fee payment. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, Somanta agreed to reimburse Immunodex for certain out of pocket
      expenses in the aggregate amount of approximately $21,000, which amount was
      payable upon the execution of the Side Amendment. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January 18, 2007 Somanta entered into an Amendment to the Side Amendment which
      defers the amounts due on January 31, 2007, including the 2006 Annual
      Maintenance Fee, until July 31, 2007. In consideration for the deferral, Somanta
      will pay $12,000 for each month of the deferral. In addition, Somanta paid
      $2,050 of patent annuity payments.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Additional
      Licenses Needed to Commercialize Angiolix</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      Angiolix is humanized, a process by which genetic material from a mouse cell
      is
      made tolerable to humans, using a patented technology developed by the National
      Institutes of Health.&#160;The NIH previously granted to the Cancer Research
      Institute of Contra Costa a license to the applicable humanization technology.
      Pursuant to the Immunodex agreement, Immunodex and the Cancer Research Institute
      of Contra Costa are seeking to obtain for Somanta the NIH&#8217;s consent to a
      sublicense to Somanta of the Cancer Research Institute of Contra Costa right
      to
      use the NIH humanization technology.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      August&#160;8, 2005, Somanta made a direct application to NIH to obtain a
      non-exclusive commercial license to such humanization technology, and Somanta
      is
      currently in discussions with NIH on the terms of such a license.&#160;The terms
      proposed by NIH would not be acceptable to Somanta since they are materially
      more costly than those that are contained in the Cancer Research Institute
      of
      Contra Costa sublicense. On November&#160;8, 2006, Somanta made application to
      the National Institutes of Health for a non-exclusive license to certain patents
      held by NIH related to the humanization of Angiolix (huMc-3 mAb). On December
      5,
      2006 NIH provided Somanta with proposed terms for a non-exclusive license.
      Somanta is in discussion with NIH on those proposed terms and conditions. On
      May
      15, 2007, the NIH terminated Somanta&#8217;s non-exclusive license application since
      Somanta had not accepted the terms and had not executed the proposed license
      agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Rationale</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Lactadherin
      is expressed in and around blood vessels of tumors and has a critical role
      in
      providing new blood vessels to support tumor growth.&#160;Somanta believes that
      Angiolix binds to Lactadherin and induces the death of new blood vessels,
      thereby blocking the supply of blood to the tumor and causing the tumor to
      die.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      similar
      antibody on the market, Avastin </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      , is
      used in the treatment of colorectal and other cancer types.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Development
      Plan</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Somanta
      intends to enter into a research agreement with an academic investigator to
      undertake further animal studies on Angiolix within the next six
      months.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Competitive
      Position</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.&#160;Somanta
      is targeting a propriety gene product which is expressed by cancerous
      tumors.&#160;Somanta is not aware of any other organization developing similar
      products targeting this type of protein.&#160;The key patent relating to
      Angiolix has been issued in the U.S. and Australia.&#160;In general, it covers
      the composition of matter and various aspects of the binding to applicable
      antigens as well as the manufacture of Angiolix.&#160;Somanta also has foreign
      counterparts to this patent pending in the European Union and Canada.&#160;This
      patent will expire in 2015.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Intellectual
      Property</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
      success will depend in large part on its ability to obtain and maintain patent
      protection for its product candidates, products and technologies, preserve
      trade
      secrets and operate without infringing the intellectual property rights of
      others. Somanta intends to prosecute and defend its intellectual property rights
      aggressively. Somanta&#8217;s policy is to seek patent protection for the inventions
      that Somanta considers important to the development of its business. Currently
      Somanta owns one patent that relates to Alchemix together with its foreign
      counterpart in the European Union, and Somanta filed a patent application in
      the
      United States and the European Union related on Prodrax.&#160;Somanta&#8217;s
      intellectual property related to Angiolix consists of an exclusive sub-license
      from Immunodex, Inc. to practice the patents that relate to Angiolix in the
      field of the treatment of cancer. Somanta has responsibility for the filing,
      prosecution and maintenance of patent rights associated with this
      license.&#160;Somanta&#8217;s intellectual property related to PB consists of an
      exclusive sub-license from Virium Pharmaceuticals, Inc. to practice the patents
      that relate to PB in the field of the treatment of cancer outside of North
      America.&#160;Virium is responsible for the filing, prosecution and maintenance
      of these patents; provided, however, that Somanta has agreed to pay all costs
      and expenses associated with the filing, prosecution and maintenance of patents
      outside of the U.S. or Canada.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      </div>
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        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Although
      Somanta believes its patents, and its patent applications, if they issue as
      patents, will provide a competitive advantage, the patent positions of
      pharmaceutical and biotechnology companies are highly uncertain and involve
      complex legal and factual questions. Somanta may not be able to develop
      patentable products or processes, and may not be able to obtain patents from
      pending applications. Even if patent claims are allowed, the claims may not
      issue, or in the event of issuance, may not be sufficient to protect Somanta&#8217;s
      technology. In addition, any patents or patent rights Somanta obtains may be
      circumvented, challenged or invalidated by Somanta&#8217;s competitors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">While
      Somanta&#8217;s product candidates are in clinical trials, and prior to
      commercialization, Somanta believes its current activities in the United States
      fall within the scope of the exemptions against patent infringement provided
      by
      35&#160;U.S.C. Section&#160;271(e) which covers activities related to developing
      information for submission to the FDA. As Somanta&#8217;s product candidates progress
      toward commercialization, the possibility of an infringement claim against
      Somanta increases. While Somanta attempts to ensure that its product candidates
      and the methods Somanta employs to manufacture them do not infringe other
      parties&#8217; patents and proprietary rights, competitors or other parties may assert
      that Somanta infringes on their patents or proprietary rights. Competitors
      or
      third parties may be issued patents that may cover subject matter that Somanta
      uses in developing, producing, or administering its products.&#160;Additionally,
      because patent prosecution can proceed in secret prior to issuance of a patent,
      third parties may obtain other patents with claims of unknown scope prior to
      the
      issuance of patents relating to Somanta&#8217;s product candidates which they could
      attempt to assert against Somanta. Further, as Somanta develops its products,
      Somanta may infringe the current patents of third parties or patents that may
      issue in the future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Although
      Somanta believes that its product candidates, production methods and other
      activities do not currently infringe the intellectual property rights of these
      and other third parties, Somanta cannot be certain that a third party will
      not
      challenge its position in the future. If a third party alleges that Somanta
      is
      infringing its intellectual property rights, Somanta may need to obtain a
      license from that third party, but there can be no assurance that any such
      license will be available on acceptable terms or at all. Any infringement claim
      that results in litigation could result in substantial cost to Somanta and
      the
      diversion of management&#8217;s attention away from Somanta&#8217;s core business and could
      also prevent Somanta from marketing its products. To enforce patents issued
      to
      Somanta or to determine the scope and validity of other parties&#8217; proprietary
      rights, Somanta may also become involved in litigation or in interference
      proceedings declared by the United States Patent and Trademark Office, which
      could result in substantial costs to Somanta or an adverse decision as to the
      priority of its inventions. Somanta may be involved in interference and/or
      opposition proceedings in the future. Somanta believes there will continue
      to be
      significant litigation in the industry regarding patent and other intellectual
      property rights.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      also relies on trade secrets to protect its technology, particularly when
      Somanta does not believe that patent protection is appropriate or available.
      However, trade secrets are difficult to protect. Somanta attempts to protect
      its
      trade secrets by requiring each of its employees, consultants and advisors
      to
      execute a non-disclosure and assignment of invention agreement before beginning
      his or her employment, consulting or advisory relationship with Somanta. Somanta
      cannot guarantee that these agreements will provide meaningful protection,
      that
      these agreements will not be breached, that Somanta will have an adequate remedy
      for any such breach, or that Somanta&#8217;s trade secrets will not otherwise become
      known or independently developed by a third party.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Government
      Regulation</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition to FDA regulatory approval process discussed above, Somanta is subject
      to regulation by various governmental agencies including, without limitation,
      the Drug Enforcement Administration, the U.S. Department of Agriculture, the
      Environmental Protection Agency, the Occupational Safety and Health
      Administration, and the California State Department of Health Services, Food
      and
      Drug Branch.&#160;Such regulation by governmental authorities in the U.S. and
      other countries may impede or limit Somanta&#8217;s ability to develop and market
      Somanta&#8217;s products.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
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      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">155</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Any
      products Somanta manufactures or distributes pursuant to the FDA clearances
      or
      approvals are subject to pervasive and continuing regulation by the FDA,
      including record-keeping requirements, reporting of adverse experiences with
      the
      drug, submitting other periodic reports, drug sampling and distribution
      requirements, notifying the FDA and gaining its approval of certain
      manufacturing or labeling changes, complying with the FDA promotion and
      advertising requirements. The FDA has actively enforced regulations prohibiting
      the marketing of products for unapproved uses. However, in certain
      circumstances, and subject to very stringent requirements, the FDA will permit
      the dissemination of peer-reviewed scientific reprints related to unapproved
      uses. Drug manufacturers and their subcontractors are required to register
      their
      facilities with the FDA and state agencies and are subject to periodic
      unannounced inspections by the FDA and state agencies for compliance with
      current good manufacturing practices, which impose procedural and documentation
      requirements upon Somanta and its third-party manufacturers. Failure to comply
      with these regulations could result, among other things, in warning letters,
      suspension of regulatory approval, refusal to approval pending applications
      or
      supplements to approved applications, recalls, suspension or closure of
      production or injunctions, seizures, or civil or criminal sanctions Somanta
      cannot be certain that Somanta or its present or future subcontractors will
      be
      able to comply with those regulations and other FDA regulatory
      requirements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      FDA&#8217;s
      policies may change, and additional government regulations may be enacted which
      could prevent or delay regulatory approval of its potential products. Moreover,
      increased attention to the containment of health care costs in the U.S. and
      in
      foreign markets could result in new government regulations that could have
      a
      material adverse effect on Somanta&#8217;s business. Somanta cannot predict the
      likelihood, nature or extent of adverse governmental regulation that might
      arise
      from future legislative or administrative action, either in the U.S. or
      abroad.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Raw
      Materials</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      needs sufficient supplies of raw materials to develop and market its products
      successfully.&#160;The raw materials in products that are approved by the FDA
      cannot be changed without equivalency testing of the new material by Somanta
      and
      approval by the FDA.&#160;Some of the raw materials for Somanta&#8217;s products are
      expected to be qualified from only one supplier. At times, one or more of these
      qualified materials may not be available or may be available only in limited
      quantities.&#160;If Somanta is unable to obtain the necessary raw materials from
      its existing sources, Somanta could incur significant delays in marketing and
      selling its products until an alternate vendor can be qualified and approved
      for
      use.&#160;At this time, Somanta has not entered into any agreement with a third
      party manufacturer or supplier for the purpose of supplying Somanta with the
      raw
      materials necessary to conduct its clinical trials or to commercialize any
      of
      its product candidates; however, Somanta believes that raw materials relevant
      to
      the manufacture of both its monoclonal antibody product candidates and small
      molecule product candidates are available from a variety of
      sources.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Employees</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      of
      April 30, 2007, Somanta employed three full time employees. Somanta&#8217;s three
      current employees are located in two separate facilities. Somanta&#8217;s
      headquarters, where its Executive Chairman operates, is located in Irvine,
      California.&#160; Somanta currently has an office in a medical office building
      in London, England which houses its President and Chief Executive Officer as
      well as his assistant.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      foreseeable future, Somanta intends to outsource all of its research,
      pre-clinical, manufacturing, clinical and regulatory activities to
      well-qualified contract research organizations, contract manufacturing
      organizations, clinical research organizations and independent contractors.
      These organizations and individuals will perform their activities under detailed
      project plans developed by Somanta&#8217;s management and in accordance with its
      global development strategy.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>DESCRIPTION
      OF PROPERTY</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, Somanta rents approximately 500 square feet in London, England for
      approximately $2,000 per month which lease terminated on May 16,
      2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>LEGAL
      PROCEEDINGS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      February 8, 2007, Somanta&#8217;s United Kingdom subsidiary, Somanta Limited, had a
      creditor, Cornel Associates Limited, institute a collection action against
      it in
      the Northampton County Court in the United Kingdom in the amount of GBP 6,201.
      Somanta&#8217;s subsidiary has disputed a portion of the claim. On February 23, 2007,
      the creditor threatened to initiate liquidation proceedings against Somanta&#8217;s
      United Kingdom subsidiary in the High Court of justice, Chancery Division,
      Companies Court in the United Kingdom. No hearing has been scheduled in this
      matter.</font><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>MARKET
      FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Until
      October 24, 2005, Somanta&#8217;s common stock was quoted on the OTCBB under the
      symbol &#8220;HBSM.OB.&#8221; On October 24, 2005, the OTCBB removed Somanta&#8217;s symbol from
      its file as an inactive security. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      September 12, 2006, the OTCBB approved for quotation Somanta&#8217;s common stock
      under the symbol &#8220;SMPM.&#8221; As of&#160;June 6, 2007, the last reported sales price
      of Somanta&#8217;s common stock was $0.29.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">156</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table sets forth, for the periods indicated, the high and low closing
      prices as reported by the OTCBB, of Somanta&#8217;s common stock for the two most
      recent fiscal quarters following the approval on September 12, 2006 for
      quotation of Somanta&#8217;s common stock on the OTCBB. Prior to September 12, 2006,
      Somanta&#8217;s common stock was not quoted on the OTCBB or any other trading market.
      The OTCBB quotations reflect inter-dealer prices, without retail mark-up,
      mark-down or commission and may not represent actual transactions. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="65%">

          <tr>
            <td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" colspan="5" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Common
                Stock</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>High</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Low</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
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          <tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Fiscal
                Year Ended April 30, 2007</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Third
                quarter January 31, 2007</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1.75</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1.05</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="30%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Fourth
                quarter April 30, 207</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1.25</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.75</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      of May
      30, 2007, there were approximately seven hundred fourteen (714) stockholders
      of
      record of Somanta&#8217;s common stock and eight (8) stockholders of record of
      Somanta&#8217;s Series A Convertible Preferred Stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Dividend
      Policy</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      has never declared or paid a dividend on its common stock, nor does Somanta
      have
      any plans to do so in the future. Dividends on Somanta&#8217;s Series A Convertible
      Preferred Stock accrue at a rate of 8% per annum and are payable by Somanta
      in
      cash or shares of its common stock. Additionally, Somanta may not declare or
      pay
      a dividend, other than that set forth for shares of Series A Convertible
      Preferred Stock above, without the prior approval of the holders of a majority
      of Somanta&#8217;s Series A Convertible Preferred Stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Securities
      Authorized for Issuance Under Equity Compensation Plans</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table sets forth information as of April 30, 2007 related to Somanta&#8217;s
      equity compensation plans in effect as of that date. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Plan
                Category</font></div>
            </td>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of securities to be issued upon exercise of outstanding options,
                warrants
                and rights </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted-average
                exercise price of outstanding options, warrants and rights</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Number
                of securities remaining available for future issuance under equity
                compensation plans (excluding securities reflected in column
                (a))</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(a)</font></div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(b)</font></div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(c)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Equity
                Compensation </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Plans
                approved by security holders</font></div>
            </td>
            <td valign="middle" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,483,163</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="middle" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$.95</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="middle" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,516,837</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Equity
                Compensation </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Plans
                not approved by </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">security
                holder</font></div>
            </td>
            <td valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">--</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">--</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
            <td valign="top" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">--</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Tota</font></div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,483,163</font></div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$.95</font></div>
            </td>
            <td valign="top" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4,516,837</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">157</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SECURITY
      OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER
      MATTERS FOR SOMANTA PHARMACEUTICALS, INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      of
      June 6, 2007, Somanta had 15,459,137 shares of common stock issued and
      outstanding after the exercise of certain warrants held by SCO Capital and
      SCO
      Financial Group. The following table sets forth as of April 30, 2007, the number
      of shares of common stock owned of record and beneficially by Somanta&#8217;s current
      executive officers, directors, persons who hold 5% or more of the outstanding
      common stock of Somanta and by current officers and directors as a group.&#160;
On April 13, 2007, Somanta&#8217;s Board of Directors approved a merger agreement with
      Access Pharmaceuticals, Inc., more fully described in Note__. Under the terms
      of
      the merger agreement, Access will not assume, or provide a substitute option,
      for any of Somanta&#8217;s stock options. Rather, all of the outstanding options to
      purchase Somanta&#8217;s common stock issued pursuant to Somanta&#8217;s 2005 Equity
      Incentive Plan will be cancelled prior to the closing of the transaction in
      accordance with Section 11.3(d) of the Equity Incentive Plan. As a result,
      pursuant to the terms of Section 11.3(d) of the Equity Incentive Plan, Somanta&#8217;s
      Board of Directors has resolved to: (i) allow the immediate and accelerated
      vesting of all of the options granted, and (ii) allowed the exercise of the
      option in whole or in part until May 31, 2007. As of May 31, 2007, no options
      had been exercised and that are excluded from the following table.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      rules of the Securities and Exchange Commission, a person (or group of persons)
      is deemed to be a &#8220;beneficial owner&#8221; of a security if he or she, directly or
      indirectly, has or shares the power to vote or to direct the voting of such
      security, or the power to dispose of or to direct the disposition of such
      security.&#160; Accordingly, more than one person may be deemed to be a
      beneficial owner of the same security.&#160; A person is also deemed to be a
      beneficial owner of any security, which that person has the right to acquire
      within sixty (60) days, such as warrants or options to purchase shares of
      Somanta&#8217;s common stock. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Class</strong></font></div>
            </td>
            <td valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Name
                and Address of Beneficial Owner</strong></font></div>
            </td>
            <td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Amount
                and </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Nature
                of </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Beneficial
                </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Ownership</strong></font></div>
            </td>
            <td colspan="2" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Percentage
                of </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Class
                Beneficially </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Owned</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="3" valign="top" width="54%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>Executive
                Officers and Directors:</strong></font></div>
            </td>
            <td align="left" valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Agamemnon
                A. Epenetos </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">80
                Harley Street, London, England</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">-
                (1)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Terrance
                J. Bruggeman </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">19200
                Von Karman Ave, Suite 400, Irvine, CA</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Jeffrey
                B. Davis</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">1,609,052
                (2)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">10.14%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Preferred</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">33
                Tall Oak Drive, Summit, NJ</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">25</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">4.23%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">John
                R. Gibson</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">19200
                Von Karman Ave, Suite 400, Irvine, CA</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">98,554
                (3)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">.64%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">&#160;</td>
            <td align="left" valign="bottom" width="42%">&#160;</td>
            <td valign="top" width="16%">&#160;</td>
            <td colspan="2" valign="top" width="15%">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Kathleen
                H. Van Sleen </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">19200
                Von Karman Ave, Suite 400, Irvine, CA</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">All
                Officers &amp; Directors as a Group</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(5
                persons)</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">1,707,606</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">11.62%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;"><strong>5%
                Stockholders:</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Walbrook
                Trustees (Jersey Ltd. REK33) </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">PO
                Box 248, Lord Coutanche House, 66-68 Esplanade St. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Helier,
                Jersey JE4 5PS, Channel Islands</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">3,869,152(4)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">25.03%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">SCO
                Capital Partners LLC </font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">15,691,785(5)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">54.77%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Preferred</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">1285
                Avenue of the Americans, 35th Floor, New York, NY</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">328.6318</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">55.55%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Alpha
                Capital AG </font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">1,000,000(6)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">6.40%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Preferred</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Pradafant
                7 Furestentums 9490, Vaduz, Liechtenstein</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">40</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">6.76%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Whalehaven
                Capital Fund Limited </font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">1,875,000(7)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">12.46%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Preferred</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">14
                Par-La-Ville Road, 3<sup>rd</sup> Floor, Hamilton HM08
                Bermuda</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">74</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">12.51%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">XMark
                Opportunity Fund Ltd.</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">2,500,000(8)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">16.53%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Preferred</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">301
                Tresser Blvd., Suite 1320, Stamford, CT</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">100(9)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">16.90%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">XMark
                Opportunity Fund, L.P. </font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">2,500,000(8)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">16.53%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Preferred</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">301
                Tresser Blvd., Suite 1320, Stamford, CT</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">100(9)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">16.90%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="top" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Common</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">XMark
                JV Investment Partners, LLC </font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">2,500,000(8)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">16.53%</font></div>
            </td>
          </tr>
          <tr>
            <td colspan="2" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Preferred</font></div>
            </td>
            <td align="left" valign="bottom" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">301
                Tresser Blvd., Suite 1320, Stamford, CT</font></div>
            </td>
            <td valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">100(9)</font></div>
            </td>
            <td colspan="2" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">16.90%</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
            </td>
            <td align="justify" colspan="4" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">*&#160;less
                than 1%</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">158</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" colspan="2" valign="top" width="89%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">___________________</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(1)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Dr.
                Epenetos is a beneficiary of Walbrook Trustees (Jersey Ltd. REK33)
                (&#8220;Walbrook Trustees&#8221;), PO Box 248, Lord Coutanche House, 66-68 Esplanade
                St. Helier, Jersey JE4 5PS, Channel Islands.&#160; Walbrook Trustees holds
                3,869,152 shares of Somanta&#8217;s common stock; however, Dr. Epenetos has no
                voting or dispositive power with respect to such
                shares.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(2)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Consists
                of (i) 786,500 shares of Somanta common stock held by Lake End Capital,
                LLC (&#8220;Lake End&#8221;); (ii)&#160; 25 shares of Series A Convertible Preferred
                Stock, with such shares of Series A Convertible Preferred Stock being
                initially convertible into 416,667 shares of Somanta common stock,
                held by
                Lake End; (iii)&#160; an immediately exercisable Series A Warrant to
                purchase 208,333 shares of Somanta common stock at $0.75 per share,
                held
                by Lake End; and (iv) a PA Warrant to purchase 197,544 shares of
                Somanta
                common stock at $0.60 per share assigned to Lake End by SCO Securities,
                LLC. Pursuant to the terms of the Certificate of Designations for
                the
                Series A Convertible Preferred Stock, the number of shares of Somanta
                common stock that may be acquired on less than 61 days notice by
                Lake End
                upon any conversion of Series A Convertible Preferred Stock or the
                number
                of shares of Somanta common stock that shall be entitled to voting
                rights
                upon any conversion of Series A Convertible Preferred Stock is limited,
                to
                the extent necessary, to ensure that following such conversion, the
                number
                of shares of Somanta common stock then beneficially owned by Lake
                End and
                any other persons or entities whose beneficial ownership of common
                stock
                would be aggregated with Lake End&#8217;s for purposes of the Exchange Act does
                not exceed 9.99% of the total number of shares of Somanta common
                stock
                then outstanding.&#160; In addition, all of the warrants held by Lake End
                also provide that the number of shares of Somanta common stock that
                may be
                acquired on less than 61 days notice by Lake End upon exercise of
                such
                warrants is limited, to the extent necessary, to ensure that following
                such exercise, the number of shares of Somanta common stock then
                beneficially owned by Lake End and any other persons or entities
                whose
                beneficial ownership of common stock would be aggregated with Lake
                End&#8217;s
                for purposes of the Exchange Act does not exceed 9.99% of the total
                number
                of shares of Somanta common stock then outstanding.&#160; Accordingly, in
                light of the beneficial ownership cap, Lake End is entitled to acquire
                1,508,198 shares of Somanta common stock on less than 61 days
                notice.&#160; Lake End is the record owner of the securities listed in the
                table.&#160; Mr. Jeffrey Davis, as managing member of Lake End, has sole
                dispositive and voting power with respect to all shares held of record
                by
                Lake End. Mr. Davis disclaims beneficial ownership of these
                shares.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(3)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Consists
                of 98,554 shares of Somanta common stock held by Dr.
                Gibson.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(4)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Consists
                of 3,869,152 held in the name of Walbrook Trustees of which Dr. Epenetos
                is a beneficiary.&#160; Dr. Epenetos has no voting or dispositive power
                with respect to such shares. Katarina Le Vesconte is the Managing
                Director
                of Walbrook and as such has the power to direct the vote and disposition
                of these shares. Ms. Le Vesconte disclaims beneficial ownership of
                these
                shares.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(5)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Consists
                of (i) 6,016,725 shares of Somanta&#8217;s common stock held by SCO Capital
                Partners LLC; (ii) 328.6318 shares of Series A Convertible Preferred
                Stock, with such shares of Series A Convertible Preferred Stock being
                initially convertible into 5,477,196 shares of Somanta common stock,
                held
                by SCO Capital Partners LLC; (iii) an immediately exercisable Series
                A
                Warrant to purchase 2,738,598 shares of Somanta common stock at $0.75
                per
                share held by SCO Capital Partners LLC; (iv) a seven year warrant
                to
                purchase 866,534 shares of common shares at $0.01 per share held
                by SCO
                Capital Partners LLC; and (v) a PA Warrant to purchase 592,732 shares
                of
                Somanta common stock at $0.60 per share assigned to SCO Capital Partners
                LLC by SCO Securities, LLC, an affiliate of SCO Capital Partners
                LLC.&#160; Mr. Rouhandeh, in his capacity as Chairman and sole member of
                SCO Capital Partners LLC has sole investment and voting power with
                respect
                to these shares.&#160; SCO Capital Partners LLC has opted out of the
                beneficial ownership cap applicable to holders of shares of Somanta
                Series
                A Convertible Preferred Stock, Series A Warrants and PA
                Warrants.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(6)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Consists
                of 40 shares of Series A Convertible Preferred Stock acquired by
                Alpha
                Capital AG (&#8220;Alpha&#8221;) on January 31, 2006, with such shares being initially
                convertible into 666,667 shares of Somanta common stock.&#160; Alpha also
                acquired an immediately exercisable Series A Warrant to purchase
                333,333
                shares of Somanta common stock at $0.75 per share in connection with
                the
                acquisition of the Series A Convertible Preferred Stock. Konrad Ackermann
                is the Director of Alpha and as such has the power to direct the
                vote and
                disposition of these shares. Mr. Ackermann disclaims beneficial ownership
                of these shares.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="justify" valign="top" width="85%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(7)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Consists
                of 74 shares of Series A Convertible Preferred Stock acquired by
                Whalehaven Capital Fund Limited (&#8220;Whalehaven&#8221;) on January 31, 2006, with
                such shares being initially convertible into 1,250,000 shares of
                Somanta
                common stock.&#160; Whalehaven also acquired an immediately exercisable
                Series A Warrant to purchase 625,000 shares of Somanta common stock
                at
                $0.75 per share in connection with the acquisition of the Series
                A
                Convertible Preferred Stock.&#160; Pursuant to the terms of the
                Certificate of Designations for the Series A Convertible Preferred
                Stock,
                the number of shares of Somanta common stock that may be acquired
                on less
                than 61 days notice by Whalehaven upon any conversion of Series A
                Convertible Preferred Stock or the number of shares of Somanta common
                stock that shall be entitled to voting rights upon any conversion
                of
                Series A Convertible Preferred Stock is limited, to the extent necessary,
                to ensure that following such conversion, the number of shares of
                Somanta
                common stock then beneficially owned by Whalehaven and any other
                persons
                or entities whose beneficial ownership of common stock would be aggregated
                with Whalehaven&#8217;s for purposes of the Exchange Act does not exceed 9.99%
                of the total number of shares of Somanta common stock then
                outstanding.&#160; In addition, all of the warrants held by Whalehaven
                also provide that the number of shares of Somanta common stock that
                may be
                acquired on less than 61 days notice by Whalehaven upon exercise
                of such
                warrants is limited, to the extent necessary, to ensure that following
                such exercise, the number of shares of Somanta common stock then
                beneficially owned by Whalehaven and any other persons or entities
                whose
                beneficial ownership of common stock would be aggregated with Whalehaven&#8217;s
                for purposes of the Exchange Act of 1934 does not exceed 9.99% of
                the
                total number of shares of Somanta common stock then outstanding.&#160;
                Accordingly, in light of the beneficial ownership cap, Whalehaven
                is
                entitled to acquire 1,490,269 shares of Somanta common stock on less
                than
                61 days notice. Arthur Jones, Jennifer Kelly and Derek Wood are the
                directors of Whalehaven and as such have shared power to direct the
                vote
                and disposition of these shares. Mr Jones, Ms. Kelly and Mr. Wood
                disclaim
                beneficial ownership of these shares.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(8)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Consists
                of (i) 41.25 shares of Series A Convertible Preferred Stock acquired
                by
                XMark Opportunity Fund Ltd. (&#8220;XMark Ltd.&#8221;), an affiliate of XMark L.P. and
                XMark JV, on January 31, 2006, with such shares being initially
                convertible into 687,500 shares of Somanta common stock; (ii) an
                immediately exercisable Series A Warrant to purchase 343,750 shares
                of
                Somanta common stock at $0.75 per held by XMark Ltd.; (iii) 33.75
                shares
                of Series A Convertible Preferred Stock acquired by XMark Opportunity
                Fund, L.P. (&#8220;XMark L.P.&#8221;), an affiliate of XMark Ltd. and XMark JV, on
                January 31, 2006, with such shares being initially convertible into
                562,500 shares of Somanta common stock; (iv) an immediately exercisable
                Series A Warrant to purchase 281,250 shares of Somanta common stock
                at
                $0.75 per share held by XMark L.P.; (v) 25 shares of Series A Convertible
                Preferred Stock acquired by XMark JV Investment Partners, LLC (&#8220;XMark
                JV&#8221;), an affiliate of XMark Ltd. and XMark L.P., on January 31, 2006,
                with
                such shares being initially convertible into 416,667 shares of Somanta
                common stock; and (vi) an immediately exercisable Series A Warrant
                to
                purchase 208,333 shares of Somanta common stock at $0.75 per share
                held by
                XMark JV.&#160; Mitchell Kaye is the Chief Investment Officer of each of
                XMark Ltd., XMark L.P. and XMark JV.&#160; Pursuant to the terms of the
                Certificate of Designations for the Series A Convertible Preferred
                Stock,
                the number of shares of Somanta common stock that may be acquired
                on less
                than 61 days notice by any of the XMark entities upon any conversion
                of
                Series A Convertible Preferred Stock or the number of shares of Somanta
                common stock that shall be entitled to voting rights upon any conversion
                of Series A Convertible Preferred Stock is limited, to the extent
                necessary, to ensure that following such conversion, the number of
                shares
                of Somanta common stock then beneficially owned by any of the XMark
                entities and any other persons or entities whose beneficial ownership
                of
                common stock would be aggregated with any of the XMark entities&#8217; for
                purposes of the Exchange Act does not exceed 9.99% of the total number
                of
                shares of Somanta&#8217;s common stock then outstanding.&#160; In addition, all
                of the warrants held by the XMark entities also provide that the
                number of
                shares of Somanta common stock that may be acquired on less than
                61 days
                notice by any of the XMark entities upon exercise of such warrants
                is
                limited, to the extent necessary, to ensure that following such exercise,
                the number of shares of Somanta common stock then beneficially owned
                by
                any of the XMark entities and any other persons or entities whose
                beneficial ownership of common stock would be aggregated with any
                of the
                XMark entities&#8217; for purposes of the Exchange Act does not exceed 9.99% of
                the total number of shares of Somanta common stock then outstanding.&#160;
                Accordingly, in light of the beneficial ownership cap, the XMark
                entities
                are entitled to acquire 1,511,081 shares of Somanta common stock
                on less
                than 61 days notice. Mitchell D. Kaye is the Chief Investment Officer
                of
                each of the XMark entities and as such has the power to direct the
                vote
                and disposition of these shares. Mr. Kaye disclaims beneficial ownership
                of these shares.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">(9)</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: Times New Roman;">Consists
                of (i) 41.25 shares of Series A Convertible Preferred Stock acquired
                by
                XMark Ltd.; (ii) 33.75 shares of Series A Convertible Preferred Stock
                acquired by XMark L.P.; and (iii) 25 shares of Series A Convertible
                Preferred Stock acquired by XMark
                JV.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -63pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>MANAGEMENT&#8217;S
      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>You
      should read the following discussion of our financial condition and results
      of
      operations in conjunction with the financial statements and the notes to those
      statements included elsewhere in this report.&#160;This discussion may contain
      forward-looking statements that involve risks and uncertainties. Our actual
      results may differ materially from those anticipated in these forward-looking
      statements as a result of certain factors, such as those set forth under &#8220;Risk
      Factors&#8221; and elsewhere in this report.&#160;Information in the following
      discussion for a yearly period means for the year ended April&#160;30 of the
      indicated year. </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Overview
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Background
      </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      is a biopharmaceutical company engaged in the development of drugs primarily
      for
      the treatment of cancer. Somanta in-licenses product development candidates
      designed for anti-cancer therapy in order to advance them along the regulatory
      and clinical pathway toward commercial approval.&#160;Somanta's licenses are
      generally worldwide in scope and territory, with the exception of&#160;it's
      license for Sodium Phenylbutyrate where&#160;its rights exclude the U.S. and
      Canada. Somanta uses its expertise to manage and perform what Somanta believes
      are the most critical aspects of the product development process which includes
      the design and conduct of clinical trials, the development and execution of
      strategies for the protection and maintenance of intellectual property rights
      and the interaction with drug regulatory authorities
      internationally.&#160;Somanta concentrates on product development and engages in
      a very limited way in product discovery, avoiding the significant investment
      of
      time and financial resources that is generally required before a compound is
      identified and brought into clinical trials.&#160;In addition, Somanta intends
      to out-source clinical trials, pre-clinical testing and the manufacture of
      clinical materials to third parties.&#160;Somanta currently&#160; engages two
      third parties to undertake pre-clinical testing with respect to&#160;its product
      candidates Phoenix, Angiolix, Alchemix and Prodrax.&#160;Somanta was formerly
      known as Bridge Oncology Products, Inc., a Delaware corporation which was formed
      on February&#160;10, 2005.&#160;On August&#160;22, 2005 Somanta entered into a
      Share Exchange Agreement with Somanta Limited, a company organized under the
      laws of England, pursuant to which Somanta Limited became a wholly-owned
      subsidiary of Bridge Oncology Products, Inc., and Bridge Oncology Products,
      Inc., changed its name to Somanta Incorporated.&#160;Somanta Limited was formed
      on April&#160;19, 2001. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta's
      current portfolio of development candidates in clinical development includes
      two
      anti-cancer agents (a small molecule and a monoclonal antibody) targeting four
      different tumors and/or stage of cancer. Somanta has three additional
      development candidates (two small molecules and a monoclonal antibody) in
      pre-clinical development targeting eleven different tumor types. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      intends to license the rights to manufacture and market its product candidates
      to other pharmaceutical companies in exchange for license fees and royalty
      payments and to continue to seek other in-licensing opportunities in pursue
      of&#160;its business strategy.&#160;Somanta does not currently intend to
      manufacture or market products although&#160;Somanta may, if the opportunity is
      available on terms that are considered attractive, or retain co-development
      rights to specific products. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      &#160;has incurred substantial operating losses since&#160;its inception due in
      large part to expenditures for its research and development activities. At
      January 31, 2007 and April 30, 2006,&#160;&#160;Somanta had an accumulated
      deficit of $13,954,180 (unaudited) and $8,300,508, respectively. Somanta expects
      its&#160;operating losses to increase for at least the next several years as
      Somanta pursues the clinical development of&#160;its lead product candidates and
      expand&#160;its discovery and development pipeline. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Revenues
      </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      has not generated any significant revenues from sales to date, and Somanta
      does
      not expect to generate revenues from product sales for at least the next several
      years, if at all.&#160;Somanta expects its revenues for the next several years
      to consist of payments under certain of its current agreements and any
      additional collaborations, including upfront payments upon execution of new
      agreements, research funding and related fees throughout the research term
      of
      the agreements and milestone payments contingent upon achievement of agreed-upon
      objectives.&#160;To date, Somanta has&#160;received $10,000 in payments under
      such agreements. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
      </div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Critical
      Accounting Policies and Estimates </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta's
      discussion and analysis of&#160;its financial condition and results of
      operations is based on its consolidated financial statements. Somanta has
      identified the accounting policies that Somanta believes require application
      of
      management&#8217;s most subjective judgments, often requiring the need to make
      estimates about the effect of matters that are inherently uncertain and may
      change in subsequent periods. Somanta's actual results may differ substantially
      from these estimates under different assumptions or conditions. Somanta's
      significant accounting policies are described in more detail in the notes to
      consolidated financial statements included elsewhere in this report. Somanta
      believes that the following accounting policies require the application of
      significant judgments and estimates. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Intangible
      Assets&#8212;Patents and Licenses </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      patent and license costs are charged to expense when incurred. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Stock
      Based Compensation </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December&#160;16, 2004, the FASB issued SFAS No.&#160;123 (revised 2004),
&#8220;Share-Based Payment&#8221; (SFAS 123R). SFAS 123R eliminates the alternative of
      applying the intrinsic value measurement provisions of APB 25 to stock
      compensation awards issued to employees. Rather, the new standard requires
      enterprises to measure the cost of employee services received in exchange for
      an
      award of equity instruments based on the grant-date fair value of the award.
      That cost will be recognized over the period during which an employee is
      required to provide services in exchange for the award, known as the requisite
      service period (usually the vesting period). On April&#160;14, 2005, the
      Securities and Exchange Commission announced the adoption of a rule that defers
      the required effective date of SFAS 123R. The SEC rule provides that SFAS 123R
      is now effective for registrants as of the beginning of the first fiscal year
      beginning after June&#160;15, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effective
      May&#160;1, 2006, Somanta adopted SFAS 123R and accordingly has adopted the
      modified prospective application method. Under this method, SFAS 123R is applied
      to new awards and to awards modified, repurchased, or cancelled after the
      effective date. Additionally, compensation cost for the portion of awards that
      are outstanding as of the date of adoption for which the requisite service
      has
      not been rendered (such as unvested options) is recognized over a period of
      the
      period of time as the remaining requisite services are
      rendered.&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">Prior
      to May 1, 2006, Somanta accounted for its employee stock
      option plan in accordance with the provisions of SFAS No. 123, <em>"Accounting
      for Stock-Based Compensation, "</em> and SFAS No. 148,
<em>"Accounting</em>&#160; <em>for Stock-Based Compensation- Transition and
      Disclosure."</em>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Use
      of Estimates </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      preparation of financial statements in conformity with generally accepted
      accounting principles in the U.S. requires management to make estimates and
      assumptions that affect the reported amounts of assets and liabilities at the
      date of the consolidated financial statements and the reported amounts of
      revenues and expenses during the reporting period. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      an
      ongoing basis, Somanta evaluates&#160;its estimates, including those related to
      accruals, valuation of stock options and warrants, and income taxes (including
      the valuation allowance for deferred taxes). Somanta bases&#160;its estimates on
      historical experience and on various other assumptions that Somanta believes
      to
      be reasonable under the circumstances, the results of which form the basis
      for
      making judgments about the carrying values of assets and liabilities that are
      not readily apparent from other sources. Actual results may materially differ
      from these estimates under different assumptions or conditions. Material
      differences may occur in&#160;its results of operations for any period if
      Somanta made different judgments or utilized different estimates. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Fair
      Value of Financial Instruments </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Statement
      of Financial Accounting Standard No.&#160;107, &#8220;Disclosures about fair value of
      financial instruments,&#8221; requires that&#160;Somanta&#160;discloses estimated fair
      values of financial instruments. The carrying amounts reported in the statements
      of financial position for current assets and current liabilities qualifying
      as
      financial instruments are a reasonable estimate of fair value of such financial
      instruments. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Research
      and Development </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      research and development costs consist of expenditures for royalty payments,
      licensing fees, contract research conducted by third parties, and fees and
      expenses to consultants to manage such contract research. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Results
      of Operations </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Fluctuations
      in Operating Results </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta's&#160;results
      of operations are likely to fluctuate from period to period.&#160;Somanta
      anticipates that&#160;its quarterly and annual results of operations will be
      impacted for the foreseeable future by several factors, including the timing
      and
      amount of payments received pursuant to&#160;its current and future
      collaborations, and the progress and timing of expenditures related to&#160;its
      discovery and development efforts. Due to these fluctuations,&#160;Somanta
      believes that the period-to-period comparisons of our operating results are
      not
      a good indication of our future performance. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Three
        Months Ended January 31, 2007 Compared With Three Months Ended January 31,
        2006
</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
        the
        three months ended January 31, 2007 and 2006, Somanta recognized revenue
        in the
        amount of $357 (unaudited) and $357 (unaudited), respectively, related to
        an
        upfront license fee paid by Advanced Cardiovascular Devices, LLC, for an
        exclusive license to Alchemix for use in stents and devices in the field
        of
        vascular disorders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
        net loss applicable to common stockholders was $3,438,102 (unaudited) for
        the
        three months ended January 31, 2007 versus $3,503,433 (unaudited) for the
        three
        months ended January 31, 2006, a decrease of $65,331, the causes of which
        are
        discussed below.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Operating
        Expenses were $664,247 (unaudited) for the three months ended January 31,
        2007,
        versus $980,021 (unaudited) for the three months ended January 31, 2006,
        a
        decrease of $315,774. This decrease is primarily due to Somanta&#8217;s reduced
        spending necessitated by its liquidity issues and need to conserve cash until
        Somanta raises additional funds.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        incurred no interest expense for the three months ended January 31, 2007
        because
        Somanta had no debt outstanding during the period. Interest expense was
        $1,001,354 for the three months ended January 31, 2006, and included the
        following items related to its secured convertible note issued to
        SCO:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                </td>
                <td align="left" valign="top" width="74%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$514,981,
                    representing the non-cash expense required by Statement of Financial
                    Accounting Standards 123 for the fair value of the warrants issued
                    in
                    connection with the note.</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                </td>
                <td align="left" valign="top" width="74%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$364,721,
                    representing the non-cash expense required by EITF No. 00-27
                    for the
                    non-cash value of the beneficial conversion feature associated
                    with the
                    note.</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                </td>
                <td align="left" valign="top" width="74%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$100,000,
                    reflecting the fee paid to SCO for issuing the note.</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="left" valign="top" width="74%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$21,652,
                    reflecting the interest due as of January 31, 2006 on the note,
                    which
                    interest was converted into Series A Preferred in connection
                    with
                    Somanta&#8217;s private placement of the
                    stock.</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        change in fair value of warrant liabilities of $2,775,348 for the three months
        ended January 31, 2007 is recorded as an expense. There was no such transaction
        during the three months ended January 31, 2006.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        deemed dividend of $1,522,317 on Series A preferred stock issued on January
        31,
        2006 (see Note 3, Private Placement, above), and was recorded during the
        three
        months then ended. The dividend reflects the non-cash expense required by
        EITF
        No. 00-27 for the non-cash value of the beneficial conversion feature associated
        with the Series A preferred stock.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Nine
        Months Ended January 31, 2007 Compared With Nine Months Ended January 31,
        2006
</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
            the
            nine months ended January 31, 2007 and 2006, Somanta recognized revenue
            in the
            amount of $1,072 (unaudited) and $1,071 (unaudited), respectively, related
            to an
            upfront license fee paid by Advanced Cardiovascular Devices, LLC, for
            an
            exclusive license to Alchemix for use in stents and devices in the field
            of
            vascular disorders. </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
            net loss applicable to common stockholders was $5,653,672 (unaudited)
            for the
            nine months ended January 31, 2007 versus $5,183,636 (unaudited) for
            the nine
            months ended January 31, 2006, an increase of $470,036, the causes of
            which are
            discussed below. </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Operating
              expenses were $3,265,958 for the nine months ended January 31, 2007,
              versus
              $2,621,972 for the nine months ended January 31, 2006, an increase
              of
              $643,986.&#160;This increase is due to an increase in both G&amp;A expenses and
              R&amp;D expenses. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">162</font></div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
              </div>
              <div>&#160;</div>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">G&amp;A
              expenses were $2,150,479 for the nine months ended January 31, 2007,
              versus
              $1,706,345 for the nine months ended January 31, 2006, an increase
              of
              $444,134.&#160;This increase reflects primarily: </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="middle" width="4%">&#160;</td>
                    <td align="left" valign="top" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                    </td>
                    <td align="left" valign="top" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                        increase in patent legal expense principally related to the
                        sublicense
                        with Virium of $282,764;</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 4pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;</font></div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="middle" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                    </td>
                    <td align="left" valign="top" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                        increase in listing fees and public reporting expenses of
                        $87,068 related
                        to our registration statement and related to the requirements
                        of doing
                        business as a US publicly-listed entity;
</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="middle" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                    </td>
                    <td align="left" valign="top" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                        increase in payroll related expenses of $209,662 for the
                        compensation of
                        newly-hired officers who were not on Somanta&#8217;s payroll for the entirety of
                        the period ended January &#160;31, 2006;
</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="middle" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                    </td>
                    <td align="left" valign="top" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                        increase in insurance expenses of $123,647 related to the
                        establishment of
                        a comprehensive insurance program;</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="middle" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                    </td>
                    <td align="left" valign="top" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                        decrease in corporate legal expenses of $319,230 and in audit
                        and
                        accounting expense of $46,549, principally related to the
                        timing of costs
                        of filing registration statements in the prior
                        period;</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="middle" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                    </td>
                    <td align="left" valign="top" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                        increase of $31,813 in Somanta&#8217;s fees to the members of our board of
                        directors;</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="middle" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                    </td>
                    <td align="left" valign="top" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                        increase of $44,598 in Somanta&#8217;s outside consulting fees related primarily
                        to the SCO monthly consulting fee being in effect more months
                        in the
                        current period; and</font></div>
                    </td>
                  </tr>

              </table>
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            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="middle" width="4%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                    </td>
                    <td align="left" valign="top" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td align="left" valign="top" width="76%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                        increase of $42,862 related to the establishment of an investor
                        relation
                        program. </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">R&amp;D
              expenses were $1,115,479 for the nine month period ended January 31,
              2007,
              versus $915,627 for the nine month period ended January 31, 2006, an
              increase of
              $199,852.&#160;This net increase reflects primarily: </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
              <div>
                <table cellpadding="0" cellspacing="0" width="100%">

                    <tr>
                      <td align="left" valign="middle" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="2%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                      </td>
                      <td align="left" valign="top" width="1%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                          increase in pre-clinical costs of $181,633, related to
                          the costs the
                          pre-clinical efforts related to Alchemix, Prodrax and Angiolix;
                          </font></div>
                      </td>
                    </tr>

                </table>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div>
                <table cellpadding="0" cellspacing="0" width="100%">

                    <tr>
                      <td align="left" valign="middle" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="2%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                      </td>
                      <td align="left" valign="top" width="1%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                          increase in consulting expense of $64,727, related to the
                          costs of monthly
                          retainers as two principal consultants were contracted
                          on annual terms to
                          oversee all of our pre-clinical and clinical development;
                          </font></div>
                      </td>
                    </tr>

                </table>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div>
                <table cellpadding="0" cellspacing="0" width="100%">

                    <tr>
                      <td align="left" valign="middle" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="2%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                      </td>
                      <td align="left" valign="top" width="1%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                          $31,944 expense for an investigator fee, related to the
                          investigator
                          clinical trial of Phoenix; and </font></div>
                      </td>
                    </tr>

                </table>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div>
                <table cellpadding="0" cellspacing="0" width="100%">

                    <tr>
                      <td align="left" valign="middle" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="2%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                      </td>
                      <td align="left" valign="top" width="1%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                          decrease in licensing fees of
                          $31,538.</font></div>
                      </td>
                    </tr>

                </table>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
                incurred no interest expense for the nine months ended January 31,
                2007 because
                Somanta had no debt outstanding during the period. Interest expense
                was
                $1,016,021 for the nine months ended January 31, 2006 and included
                the following
                items related to Somanta&#8217;s convertible note issued to SCO.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div>
                <table cellpadding="0" cellspacing="0" width="100%">

                    <tr>
                      <td align="left" valign="top" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="74%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$514,981,
                          representing the non-cash expense required by Statement
                          of Financial
                          Accounting Standards 123 for the fair value of the warrants
                          issued in
                          connection with the note.</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                      </td>
                      <td align="left" valign="top" width="74%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$364,721,
                          representing the non-cash expense required by EITF No.
                          00-27 for the
                          non-cash value of the beneficial conversion feature associated
                          with the
                          note.</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                      </td>
                      <td align="left" valign="top" width="74%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$100,000,
                          reflecting the agent fee paid to SCO for issuing the
                          note.</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td align="left" valign="top" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="4%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                      </td>
                      <td align="left" valign="top" width="74%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$36,319,
                          reflecting the interest due as of January 31, 2006 on the
                          note, which
                          interest was converted into Series A Preferred in connection
                          with the
                          Company&#8217;s private placement of the stock (see Note 5, Private Placement
                          in
                          the attached Consolidated Financial
                          Statements).</font></div>
                      </td>
                    </tr>

                </table>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                change in fair value of warrant liabilities of $2,381,024 for the
                nine months
                ended January 31, 2007 is recorded as an expense in other income.
                There was no
                such transaction during the nine months ended January 31, 2006.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                deemed dividend on Series A preferred stock issued on January 31,
                2006 (see Note
                3, Private Placement, in the attached Consolidated Financial Statements),
                and
                recorded during the nine months then ended, was $1,522,317. The dividend
                reflects the non-cash expense required by EITF No. 00-27 for the
                non-cash value
                of the beneficial conversion feature associated with the Series A
                preferred
                stock.</font></div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">163</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Year
      Ended April&#160;30, 2006 Compared With Year Ended April&#160;30, 2005
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      year ended April&#160;30, 2006, Somanta recognized revenue in the amount of
      $1,428 related to an upfront license fee paid by Advanced Cardiovascular
      Devices, LLC, for an exclusive license to di-N-oxides of
      chloroethylaminoanthraquinone as a bioreductive prodrug for use in stents and
      devices in the field of vascular disorders. No revenue was recognized for the
      year ended April&#160;30, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta's
      net loss applicable to common shareholders was $6,524,408 for the year ended
      April&#160;30, 2006 versus $1,135,009 for the year ended April&#160;30, 2005, an
      increase of $5,389,399.&#160;This increase is primarily due to increases in
      Operating Expenses, Interest Expense, and the Deemed Dividend on Series A
      Preferred issued on April&#160;30, 2006 (see Note 12, Private Placement, in the
      attached Consolidated Financial Statements). </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Operating
      Expenses were $4,109,859 for the year ended April&#160;30, 2006, versus
      $1,129,290 for the year ended April&#160;30, 2005, an increase of
      $2,980,569.&#160;This increase is due to an increase in both G&amp;A expenses
      and R&amp;D. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">G&amp;A
      expenses were $3,461,971 for the year ended April&#160;30, 2006, versus $755,255
      for the year ended April&#160;30, 2005, an increase of $2,706,716.&#160;This
      increase reflects primarily: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                increase in legal expenses of $602,735, in audit expenses of $291,820,
                in
                accounting expenses of $137,380, in investor relations expenses of
                $91,194
                and in exchange listing fees and public reporting expenses of $97,187,
                all
                related to&#160;Somanta's merger and private placement described in Notes
                10 and 12 in the attached Consolidated Financial Statements and related
                to
                the requirements of doing business as a US publicly-listed entity.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                increase in licensing fees of $595,358, due to required payments
                of
                $550,000 in accordance with Somanta's agreement with Immunodex and
                to a
                required payment of $45,358 in accordance with the Company&#8217;s agreement
                with the School of Pharmacy, University of London (see Note 14,
                Significant Contracts and Licenses, to the attached Consolidated
                Financial
                Statements). As of the fiscal year beginning May&#160;1,
                2005,&#160;Somanta re-classified&#160;its licensing fees to G&amp;A
                expenses from R&amp;D expenses because they are a part of the business
                development function, which was assigned to the G&amp;A function at that
                time. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 9pt">
            </td>
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                increase in payroll related expenses of $292,980 for the compensation
                of
                newly-hired officers who were not on&#160;its payroll in the year ended
                April&#160;30, 2005. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                increase in non-cash expenses of $225,867 to record the non-cash
                value of
                stock options issued primarily to new directors and officers, as
                required
                by Statement of Financial Accounting Standards 123.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                increase in insurance expenses of $115,663 related to the establishment
                of
                a comprehensive insurance program. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                increase in travel expenses of $93,909 related to the overall increase
                in
                the level of&#160;its business activity.
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">R&amp;D
      expenses were $647,888 for the year ended April&#160;30, 2006, versus $374,035
      for the year ended April&#160;30, 2005, an increase of $273,853.&#160;This
      increase reflects primarily: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">an
                increase in consulting expenses of $258,233, related to the costs
                of
                monthly retainers as two principal consultants were contracted on
                annual
                terms to oversee all of&#160;Somant's pre-clinical and clinical
                development. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a
                decrease in non-cash expenses of $30,457 for the value of stock options
                issued to non-employees and directors, required by Statement of Financial
                Accounting Standards 123, as the amortization period ended for some
                options. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">164</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
      expenses were $1,016,020 for the year ended April&#160;30, 2006.&#160;There were
      no interest expenses for the year ended April&#160;30, 2005.&#160;The interest
      expense for the 2006 period includes the following items related
      to&#160;Somanta's secured convertible note issued to SCO (see Note 11,
      Convertible Note in the attached Consolidated Financial Statements):
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt">
              <div>&#8226;</div>
            </td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$514,981,
                representing the non-cash expense required by Statement of Financial
                Accounting Standards 123 for the fair value of the warrants issued
                in
                connection with the note. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 9pt">
            </td>
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$364,721,
                representing the non-cash expense required by EITF No. 00-27 for
                the
                non-cash value of the beneficial conversion feature associated with
                the
                note. </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$100,000,
                reflecting the agent fee paid to SCO for issuing the note.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$36,318,
                reflecting the interest due as of January&#160;31, 2006 on the note, which
                interest was converted into Series A Preferred in connection with
                the
                Company&#8217;s private placement of the stock (see Note 12, Private Placement
                in the attached Consolidated Financial Statements).
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
      in
      fair value of warrant liabilities recorded in other income was $137,543 for
      the
      year ended April&#160;30, 2006. There was no warrant liability for the year
      ended April&#160;20, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Deemed Dividend on Series A Preferred issued on January&#160;31, 2006 (see Note
      12, Private Placement, in the attached Consolidated Financial Statements) was
      $1,522,317.&#160;There was no similar expense in the year ended April&#160;30,
      2005.&#160;The Dividend for the 2006 period reflects: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$1,522,317
                of non-cash expense required by EITF No. 00-27 for the non-cash value
                of
                the beneficial conversion feature associated with the Series A Preferred.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Change
      in Functional Currency </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">From
      inception through the fiscal year ended April&#160;30, 2005,&#160;Somanta was
      located in the United Kingdom, and all business transactions took place
      there.&#160;During that period, Somanta's functional currency was the United
      Kingdom pound. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      August&#160;22, 2005, Somanta, then known as Somanta Limited, took part in a
      share exchange with Bridge Oncology Products, Inc., a Delaware company, and
      became a subsidiary of Bridge Oncology Products, Inc., as described in the
      audited financial statements (see note 10, Subsequent Events, Share Exchange
      Agreement and Plan of Merger Agreement, in the Somanta, Inc. financial
      statements included elsewhere in this report).&#160;As a result of this
      transaction, Somanta Limited became a wholly owned subsidiary of a U.S. entity
      and accordingly changed its functional currency to the U.S. dollar as of the
      fiscal year beginning May&#160;1, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Related
      Party Transactions </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        recorded advisory service fees totaling $37,500 and $142,500 to SCO Financial
        Group, LLC for the three and nine months ended January 31, 2007, respectively.
        Somanta recorded board of director fees of $12,000 and $56,000 for the three
        and
        nine months ended January 31, 2007. Due to related parties at January 31,
        2007
        consists of $75,000 payable to SCO, and the remainder is payable to members
        of
        the board of directors for their fees and reimbursement of
        expenses.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">See
        also
        Note 6, in the attached Consolidated Year End Financial Statements for a
        discussion of related party transactions</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Liquidity
        and Capital Resources </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Since
        inception, Somanta has funded its operations primarily through sales of its
        equity and debt securities.&#160;As of April&#160;30, 2006, Somanta received
        $5,199,757 in net proceeds from sales of its equity securities and approximately
        $1,329,402 in debt financing. A portion of the debt financing was repaid
        in
        prior fiscal years.&#160;The balance was repaid at the beginning of February
        2006. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
        of
        January 31, 2007, Somanta had $129,104 (unaudited) in cash compared to
        $1,587,751 at April&#160;30, 2006, the end of its most recent fiscal year.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">165</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div>&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
        cash
        used in operating activities for the nine months ended January 31, 2007,
        totaled
        $1,460,647 (unaudited) and was used to fund its net losses in the period
        which
        were partly offset by increases in liabilities and non-cash expenses.&#160;In
        liabilities, its accounts payable and accrued liabilities increased $1,223,600
        (unaudited) and due to related parties increased $144,003 (unaudited). Its
        non-cash expense includes $2,381,024 (unaudited) related to the change in
        fair
        value of its warrant liabilities and $178,046 (unaudited) for compensation
        related to stock options. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
        the
        nine months ended January 31, 2007, its investing activities consisted of
        the
        receipt of $2,000 (unaudited) for the sale of computer equipment.&#160;For the
        nine months ended January 31, 2006, its investing activities consisted of
        the
        purchase of equipment of $5,601 (unaudited). </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
        the
        nine months ended January 31, 2007, Somanta had no financing activities.
        For the
        nine months ended January 31, 2006, Somanta&#160;completed a private placement
        of&#160;592.6318 shares of its&#160;Series A Convertible Preferred Stock
        (&#8220;Series A Preferred&#8221;) at a price of $10,000 per share.&#160;The Series A
        Preferred shares consisted of 464 shares purchased by investors which are
        convertible into 7,733,333 shares of common stock and 128.6318 shares that
        gave
        effect to the conversion amount of $1,286,318, representing the value of
        the
        converted note of $1,250,000 and the associated accrued interest of
        $36,318.&#160;The total 592.6318 preferred shares are convertible into 9,877,197
        common shares. Gross proceeds to the Company were $4,640,000, including
        $3,671,209 in cash, payments to various vendors amounting $968,791, which
        included cash payment of $624,105 to SCO Securities, LLC, its placement
        agent.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        invested a substantial portion of its available cash in investment securities
        consisting of high quality, marketable debt instruments of corporations and
        financial institutions.&#160;Somanta adopted an investment policy and
        established guidelines relating to diversification and maturities of its
        investments to preserve principal and maintain liquidity. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        consumed substantial amounts of capital since its inception.&#160;Somanta does
        not believe its existing cash resources, including the net proceeds from
        its
        private placement in January 2006 will be sufficient to fund its anticipated
        cash requirements beyond the fourth quarter of the fiscal year beginning
        May&#160;1, 2006.&#160;Somanta will require significant additional financing in
        the future to fund its operations. Its future capital requirements will depend
        on, and could increase significantly as a result of, many factors, including:
        </font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -3.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">progress
        in, and the costs of, its pre-clinical studies and clinical trials and other
        research and development programs; </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -3.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
        scope, prioritization and number of research and development programs;
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                  ability of Somanta&#8217;s collaborators and us to reach the milestones, and
                  other events or developments, under our future collaboration agreements;
                  </font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -3.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
        costs
        involved in filing, prosecuting, enforcing and defending patent claims and
        other
        intellectual property rights; </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -3.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
        costs
        of securing manufacturing arrangements for clinical or commercial production
        of
        product candidates; and </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                  costs of establishing, or contracting for, sales and marketing
                  capabilities if we obtain regulatory clearances to market Somanta&#8217;s
                  product candidates. </font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
        of
        April&#160;30, 2006, Somanta had $1,587,751 in cash compared to $102,885 at
        April&#160;30, 2005, the end of its prior fiscal year. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
        August&#160;23, 2005, Somanta received $1,000,000 in net proceeds from a debt
        financing (see Note 11 in the attached Consolidated Financial Statements).
        Somanta issued a $1,000,000 secured convertible note to SCO Capital Partners
        LLC.&#160;The note was secured by its assets, carried an annual interest rate of
        7.5%, and was due at the earlier of (i)&#160;Somanta&#8217;s completion of an equity
        financing of at least $10,000,000 or (ii)&#160;August&#160;23, 2006.&#160;SCO
        Capital Partners LLC had the option to be repaid in cash or to purchase shares
        of the financing at the lowest price paid by institutional investors.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
        November&#160;7, 2005, Somanta and SCO Capital Partners LLC agreed to expand
        this facility up to $1,250,000. Under the terms of the revised arrangement,
        the
        security and interest rate remained unchanged.&#160;The terms were amended and
        restated to require repayment at the earlier of (i)&#160;Somanta&#8217;s completion of
        an equity financing of at least $5,000,000 or (ii)&#160;February&#160;28,
        2006.&#160;In addition, for each $50,000 borrowed on the additional $250,000
        line of credit, Somanta agreed to issue a six-year warrant to purchase shares
        of
        common stock at $0.01 per share in the amount of 1% of Somanta&#8217;s fully diluted
        common shares outstanding.&#160;Somanta drew an additional $250,000 under this
        arrangement, for a total amount outstanding of $1,250,000 and has issued
        warrants to purchase 866,534 shares for $0.01 per share. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">166</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div>&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
        January&#160;31, 2006, this note and accrued interest was converted in its
        entirety to Series A Convertible Preferred Stock and the security interest
        in
        Somanta&#8217;s assets was released. On January&#160;31, 2006, Somanta received
        $3,671,209 in net proceeds from the sale of Series A Convertible Preferred
        Stock
        and warrants to purchase common stock (see Note 12 in the attached Consolidated
        Financial Statements) . Somanta invested a substantial portion of its available
        cash in investment securities consisting of high quality, marketable debt
        instruments of corporations and financial institutions.&#160;Somanta has adopted
        an investment policy and established guidelines relating to diversification
        and
        maturities of its investments to preserve principal and maintain liquidity.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
        cash
        used in operating activities for the year ended April&#160;30, 2006, totaled
        $3,859,408 and was used to fund Somanta&#8217;s net losses in the period which were
        partly offset by increases in liabilities and non-cash expenses.&#160;In
        liabilities, Somanta&#8217;s accounts payable increased $199,086 and its accrued
        liabilities increased $137,846, reflecting the overall increase in its level
        of
        business activity in the most current fiscal year.&#160;Somanta&#8217;s non-cash
        expenses included interest expense of $514,981 for the value of warrants
        related
        to its secured convertible note and offset by change in fair value of warrant
        liabilities of $137,543, interest expense of $364,721 for the value of
        beneficial conversion feature of secured convertible note (see Note 11,
        Convertible Note, in the attached Consolidated Financial Statements), options
        expense of $300,616 to record the value of options issued to officers and
        directors, and warrants expense of $92,689 to record the value of warrants
        issued to non-employees. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
        cash
        used in operating activities for the year ended April&#160;30, 2005, totaled
        $631,690 and was used to fund Somanta&#8217;s net losses in the period, which were
        partly offset by increases in accrued liabilities of $117,996 and in accounts
        payable of $64,887 due to an increased level of business activity and in
        options
        expense of $257,515 to record the value of options issued to officers and
        directors. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      year ended April&#160;30, 2006 Somanta used $21,391 in investing activities,
      consisting of the acquisition of computer equipment.&#160;For the year ended
      April&#160;30, 2005, used $3,433 in investing activities, consisting of the
      acquisition of computer equipment. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
        the
        year ended April&#160;30, 2006, Somanta generated $5,365,665 of cash from
        financing activities, primarily the net proceeds from its sale of a secured
        convertible note and its sale of Series A Convertible Preferred Stock (see
        Notes
        11 and 12 in the attached Consolidate Financial Statements). </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
        the
        year ended April&#160;30, 2005, Somanta generated $578,726 of cash from
        financing activities through the sale of equity to private investors.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        consumed substantial amounts of capital since its inception.&#160;Somanta does
        not believe its existing cash resources, including the net proceeds from
        its
        private placement in January 2006 will be sufficient to fund its anticipated
        cash requirements beyond the third quarter of the fiscal year beginning
        May&#160;1, 2006.&#160;Somanta will require significant additional financing in
        the future to fund its operations. Somanta&#8217;s future capital requirements will
        depend on, and could increase significantly as a result of, many factors,
        including: </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">progress
                  in, and the costs of, Somanta&#8217;s pre-clinical studies and clinical trials
                  and other research and development programs;
</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
        scope, prioritization and number of research and development programs;
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                  ability of Somanta&#8217;s collaborators and us to reach the milestones, and
                  other events or developments, under Somanta&#8217;s future collaboration
                  agreements; </font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
        costs
        involved in filing, prosecuting, enforcing and defending patent claims and
        other
        intellectual property rights; </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
        costs
        of securing manufacturing arrangements for clinical or commercial production
        of
        product candidates; and </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
                  costs of establishing, or contracting for, sales and marketing
                  capabilities if Somanta obtains regulatory clearances to market
                  Somanta&#8217;s
                  product candidates. </font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Until
        Somanta can generate significant continuing revenues, Somanta expects to
        satisfy
        its future cash needs through strategic collaborations, private or public
        sales
        of its securities, debt financings or by licensing all or a portion of its
        product candidates or technology to third parties.&#160;Somanta cannot be
        certain that additional funding will be available to it on acceptable terms,
        or
        at all. If funds are not available, Somanta may be required to delay, reduce
        the
        scope of, or eliminate one or more of its research or development programs
        or
        its commercialization efforts. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
        date,
        Somanta has not had any relationships with unconsolidated entities or financial
        partnerships, such as entities referred to as structured finance or special
        purpose entities, which are established for the purpose of facilitating
        off-balance sheet arrangements or other contractually narrow or limited
        purposes</font></div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
      <div>
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">167</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Recent
      Accounting Pronouncements </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
        May
        2005, the FASB issued FASB Statement No.&#160;154,</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#8220;</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounting
        Changes and Error Corrections.&#8221;&#160;This new standard replaces APB Opinion
        No.&#160;20,</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>
        Accounting Changes,</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
        and FASB
        Statement No.&#160;3,</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>
        Reporting Accounting Changes in Interim Financial Statements</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
        and
        represents another step in the FASB&#8217;s goal to converge its standards with those
        issued by the IASB.&#160;Among other changes, Statement 154 requires that a
        voluntary change in accounting principle be applied retrospectively with
        all
        prior period financial statements presented on the new accounting principle,
        unless it is impracticable to do so.&#160;Statement 154 also provides that
        (1)&#160;a change in method of depreciating or amortizing a long-lived
        nonfinancial asset be accounted for as a change in estimate (prospectively)
        that
        was effected by a change in accounting principle, and (2)&#160;correction of
        errors in previously issued financial statements should be termed a
&#8220;restatement.&#8221;&#160;The new standard is effective for accounting changes and
        correction of errors made in fiscal years beginning after December&#160;15,
        2005.&#160;Early adoption of this standard is permitted for accounting changes
        and correction of errors made in fiscal years beginning after
        June&#160;1,&#160;2005.&#160;Management believes that changes resulting from
        adoption of the FASB will not have a material effect on the financial statements
        taken as a whole. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
        June
        2005, the EITF reached a consensus on Issue 05-6, &#8220;Determining the Amortization
        Period for Leasehold Improvements,&#8221; which requires that leasehold improvements
        acquired in a business combination or purchased subsequent to the inception
        of a
        lease be amortized over the lesser of the useful life of the assets or a
        term
        that includes renewals that are reasonably assured at the date of the business
        combination or purchase.&#160;EITF&#160;05-6 is effective for periods beginning
        after June&#160;29, 2005.&#160;Earlier application is permitted in periods for
        which financial statements have not been issued.&#160;The adoption of this Issue
        did not have an impact on the Company&#8217;s financial statements. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
        February 2006, the FASB issued SFAS 155 &#8220;Accounting for Certain Hybrid Financial
        Instruments,&#8221; an amendment of FASB Statements No.&#160;133 and in February 2006,
        the FASB issued SFAS 155 &#8220;Accounting for Certain Hybrid Financial Instruments,&#8221;
an amendment of FASB Statements No.&#160;133 and 140. This Statement amends FASB
        Statements No.&#160;133, &#8220;Accounting for Derivative Instruments and Hedging
        Activities,&#8221; and No.&#160;140, &#8220;Accounting for Transfers and Servicing of
        Financial Assets and Extinguishments of Liabilities.&#8221; This Statement resolves
        issues addressed in Statement 133 Implementation Issue No. D1, Application
        of
        Statement 133 to Beneficial Interests in Securitized Financial Assets. This
        Statement: </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Permits
                    fair value remeasurement for any hybrid financial instrument
                    that contains
                    an embedded derivative that otherwise would require bifurcation;
                    </font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -3.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Clarifies
          which interest-only strips and principal-only strips are not subject to
          the
          requirements of Statement 133; </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Establishes
                    a requirement to evaluate interests in securitized financial
                    assets to
                    identify interests that are freestanding derivatives or that
                    are hybrid
                    financial instruments that contain an embedded derivative requiring
                    bifurcation; </font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -3.6pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Clarifies
          that concentrations of credit risk in the form of subordination are not
          embedded
          derivatives; and </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8226;</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amends
                    Statement 140 to eliminate the prohibition on a qualifying special-purpose
                    entity from holding a derivative financial instrument that pertains
                    to a
                    beneficial interest other than another derivative financial instrument.
                    </font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
          Statement is effective for all financial instruments acquired or issued
          after
          the beginning of an entity&#8217;s first fiscal year that begins after
          September&#160;15, 2006. The fair value election provided for in paragraph 4(c)
          of this Statement may also be applied upon adoption of this Statement for
          hybrid
          financial instruments that had been bifurcated under paragraph 12 of Statement
          133 prior to the adoption of this Statement. Earlier adoption is permitted
          as of
          the beginning of an entity&#8217;s fiscal year, provided the entity has not yet issued
          financial statements, including financial statements for any interim period
          for
          that fiscal year. Provisions of this Statement may be applied to instruments
          that an entity holds at the date of adoption on an instrument-by-instrument
          basis. Management believes that changes resulting from adoption of the
          SFAS 155
          will not have a material effect on the financial statements. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">168</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div>&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
          March
          2006, the FASB issued SFAS No.&#160;156 (&#8220;FAS 156&#8221;), &#8220;Accounting for Servicing
          of Financial Assets-An Amendment of FASB Statement No.&#160;140.&#8221; Among other
          requirements, FAS 156 requires a company to recognize a servicing asset
          or
          servicing liability when it undertakes an obligation to service a financial
          asset by entering into a servicing contract under certain situations. Under
          FAS
          156 an election can also be made for subsequent fair value measurement
          of
          servicing assets and servicing liabilities by class, thus simplifying the
          accounting and provide for income statement recognition of potential offsetting
          changes in the fair value of servicing assets, servicing liabilities and
          related
          derivative instruments. The Statement will be effective beginning the first
          fiscal year that begins after September&#160;15, 2006. Somanta does not expect
          the adoption of FAS 156 will have a material impact on our financial position
          or
          results of operations. </font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
          June
          2006, the FASB issued FASB Interpretation (FIN) No.&#160;48, &#8220;Accounting for
          Uncertainty in Income Taxes,&#8221; that provides guidance on the accounting for
          uncertainty in income taxes recognized in financial statements. The
          interpretation will be adopted by us on May&#160;1, 2007. Somanta is currently
          evaluating the impact of adopting FIN 48; however, Somanta does not expect
          the
          adoption of this provision to have a material effect on our financial position,
          results of operations or cash flows. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
          July
          2006, the FASB issued FASB Staff Position (FSP) No. FAS 13-2, &#8220;Accounting for a
          Change or Projected Change in the Timing of Cash Flows Relating to Income
          Taxes
          Generated by a Leveraged Lease Transaction,&#8221; that provides guidance on how a
          change or a potential change in the timing of cash flows relating to income
          taxes generated by a leveraged lease transaction affects the accounting
          by a
          lessor for the lease. This staff position will be adopted by us on May&#160;1,
          2007. Somanta is currently evaluating the impact of adopting this FSP;
          however,
          Somanta does not expect the adoption of this provision to have a material
          effect
          on its financial position, results of operations or cash flows. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
          September&#160;2006, the FASB issued Statement No.&#160;157, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Fair
          Value Measurements</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;
(SFAS
          157). This Statement defines fair value, establishes a framework for measuring
          fair value in generally accepted accounting principles (GAAP), and expands
          disclosures about fair value measurements. This Statement applies under
          other
          accounting pronouncements that require or permit fair value measurements,
          the
          Board having previously concluded in those accounting pronouncements that
          fair
          value is the relevant measurement attribute. Accordingly, this Statement
          does
          not require any new fair value measurements. However, for some entities,
          the
          application of this Statement will change current practice. This Statement
          is
          effective for financial statements issued for fiscal years beginning after
          November&#160;15, 2007, and interim periods within those fiscal years. Somanta
          does not expect the adoption of SFAS No.&#160;157 to have a material impact on
          its consolidated financial statements. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
          September&#160;2006, the FASB issued Statement No.&#160;158, &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Employers&#8217;
          Accounting for Defined Benefit Pension and Other Postretirement Plans&#8212;an
          amendment of FASB Statements No.&#160;87, 88, 106, and 132(R)</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8221;
(SFAS
          158). This Statement improves financial reporting by requiring an employer
          to
          recognize the overfunded or underfunded status of a defined benefit
          postretirement plan (other than a multiemployer plan) as an asset or liability
          in its statement of financial position and to recognize changes in that
          funded
          status in the year in which the changes occur through comprehensive income
          of a
          business entity or changes in unrestricted net assets of a not-for-profit
          organization. This Statement also improves financial reporting by requiring
          an
          employer to measure the funded status of a plan as of the date of its year-end
          statement of financial position, with limited exceptions. This Statement
          is
          effective as of the end of the fiscal year ending after December&#160;15, 2006.
          Somanta does not have any defined benefit plans, or other post-retirement
          plans,
          and, therefore, this Statement does not apply to us. Somanta does not expect
          SFAS No.&#160;158 to have any impact on our consolidated financial statements.
</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Competition
          </strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          biopharmaceutical industry is intensely competitive.&#160;Many companies,
          including other biopharmaceutical companies and biotechnology companies,
          are
          actively engaged in activities similar to Somanta&#8217;s, including research and
          development of products for the treatment of cancer.&#160;More specifically,
          competitors for the development of new therapeutic products to treat cancer
          also
          focus on mAb-based cancer therapeutics, small molecule discovery and
          development.&#160;A 2005 survey by the Pharmaceutical Research and Manufacturers
          of America listed nearly 400 new treatments for cancer that are currently
          being
          tested by researchers. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
          Somanta&#8217;s knowledge, other companies that are involved in the development of
          monoclonal antibody cancer therapeutics directly related to Somanta&#8217;s efforts
          include Abgenix/Amgen, Antisoma, Genmab, ImClone/Bristol-Myers Squibb,
          ImmunoGen, Schering AG, Biogen Idec, Roche, Genentech and Merck. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">169</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div>&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
          addition, a number of other companies are involved in the development of
          chemotherapeutic products directly related to Somanta&#8217;s efforts including
          Bristol-Myers Squibb, Pfizer, GlaxoSmithKline, Novartis, Eli Lilly, Wyeth
          and
          Roche. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
          expects to encounter significant competition for the pharmaceutical products
          Somanta is developing and plan to develop in the future.&#160;Many of Somanta&#8217;s
          competitors have substantially greater financial and other resources, larger
          research and development capabilities and more extensive marketing and
          manufacturing organizations than Somanta does. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
          addition, some such companies have considerable experience in pre-clinical
          testing, clinical trials and other regulatory approval procedures.&#160;There
          are also academic institutions, governmental agencies and other research
          organizations which are conducting research in areas in which Somanta is
          working
          and they may also market commercial products, either on their own or through
          collaborative efforts.&#160;If any of these competitors were to complete
          clinical trials, obtain required regulatory approvals and commence commercial
          sales of their products before Somanta does they may achieve a significant
          competitive advantage</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Historical
          Expenditures </strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prior
          to
          May 1, 2006, Somanta has historically accounted for costs by company rather
          that
          by product. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patent
          and license expenditures are expenditures that Somanta has not allocated
          to
          particular products. General and administrative expenses include salaries
          of the
          Chief Executive Officer, finance and administrative staff, rent and occupancy,
          telephone and office, corporate legal and audit, and investor
          relations.&#160;These expenses are not separated by product but are set forth on
          Somanta&#8217;s Consolidated Statements of Operations and Deficit under
&#8220;Expenses&#8212;general and administrative&#8221;. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
          licensing and product development expenses for the last two years are set
          forth
          on Somanta&#8217;s Consolidated Statements of Operations and Deficit under
&#8220;Expenses&#8212;licensing and product development.&#8221;&#160;This line item includes
          third-party development, patent and license expenditures, but not allocated
          by
          product. </font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Expenditures
          to Completion </strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
          business strategy is to in-license rights to promising product candidates,
          further develop those products by progressing the products toward regulatory
          approval by conducting and managing clinical trials, and finally to out-license
          rights to manufacture and/or market resulting product candidates to other
          pharmaceutical firms in exchange for royalties and license fees.&#160;The path
          to commercialization is varied and uncertain such that Somanta cannot anticipate
          the path to be taken for any particular product.&#160;It is not possible for us
          to predict or even estimate the nature, timing, or future costs, project
          completion dates, or when material net cash flows might be realized on
          any
          particular project.&#160;However, Somanta does expect that its costs will
          increase as Somanta continues to develop each of the licensed products
          and move
          each licensed product closer to commercialization.&#160;Somanta&#8217;s expectations
          could change quickly in the event that Somanta is able to out-license any
          product. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta&#8217;s
          business strategy is to use its product development capabilities to bridge
          discoveries and research from scientific/academic institutions or other
          biopharmaceutical companies, on the one hand, with commercial manufacturing
          and
          marketing of biopharmaceutical products, on the other hand.&#160;Out-license
          opportunities could occur at any time.&#160;Licensees would be expected, to the
          extent necessary, to:&#160;participate in the remaining clinical development
          required to obtain final regulatory approval for the product; relieve it
          of some
          or all of the costs to finalize development; and/or pay it upfront and
          milestone
          payments.&#160;To date, Somanta has out-licensed Alchemix to Advanced
          Cardiovascular Devices, LLC, for the development and commercialization
          of
          products for use in vascular disease applications worldwide.
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Trend
        Information </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">It
        is
        important to note that historical patterns of expenditures cannot be taken
        as an
        indication of future expenditures.&#160;The amount and timing of expenditures
        and therefore liquidity and capital resources vary substantially from period
        to
        period depending on the pre-clinical and clinical studies being undertaken
        at
        any one time and the availability of funding from investors and prospective
        commercial partners. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
        example, Somanta intends to enter into agreements with other biopharmaceutical
        companies for the continued clinical development and marketing of its product
        development candidates.&#160;Generally, Somanta intends to enter into these
        agreements when Somanta successfully completes the Phase II clinical trials
        and
        when human clinical data shows the safety and efficacy of its product
        development candidates. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">170</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div>&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consistent
        with the industry, business, and intellectual property risks disclosed above
        in
        this report, Somanta&#8217;s revenue trend in the foreseeable future is highly
        uncertain. Even if Somanta is able to obtain sufficient funding to conduct
        all
        current the programs of its business, Somanta would not expect to achieve
        additional revenues in the next fiscal year according to the schedules of
        revenues in its current agreements with other companies for pre-clinical
        and
        clinical development. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
        achieve these goals Somanta will need to expand its pre-clinical testing,
        its
        manufacturing that is compliant with current good manufacturing practices
        and
        the initiation of human clinical trials.&#160;This will mean that the level of
        expenditures will accelerate from those reported historically and will require
        that Somanta funds these expenditures principally from the sale of its equity
        securities. Specifically, Somanta is currently obligated to pay license fees
        of
        $200,000, milestone payments of $46,000 and research fees of $372,000, for
        a
        total of $618,000 all in the next fiscal year. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
        than as discussed above, Somanta is not aware of any material trends related
        to
        its business of product development, patents and licensing. </font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>CHANGES
      IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
      DISCLOSURE</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>&#160;</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January 31, 2006, Rotenberg Meril Solomon Bertiger &amp; Guttilla, PC, certified
      public accountants (&#8220;Rotenberg Meril&#8221;) resigned as the Somanta&#8217;s independent
      registered public accounting firm.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      audit
      committee of Somanta, on January 31, 2006, appointed Stonefield Josephson,
      Inc.
      (&#8220;Stonefield&#8221;) as Somanta&#8217;s new independent registered public accounting firm.
      The appointment was effective immediately. Stonefield Josephson, Inc. has served
      as independent registered public accounting firm for Somanta Incorporated since
      August 2, 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      report of Rotenberg Meril on Somanta&#8217;s financial statements for the year ended
      December 31, 2004 did not contain any adverse opinion, or disclaimer of opinion,
      nor were they qualified or modified as to audit scope or accounting
      principles.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with its audit of Somanta&#8217;s predecessor financial statements for the
      year ended December 31, 2004, and through any subsequent interim periods through
      the change in accountants, there were no disagreements with Rotenberg Meril
      on
      any matter of accounting principles or practices, financial statement disclosure
      or auditing scope or procedures, which disagreements, if not resolved to the
      satisfaction of Rotenberg Meril, would have caused it to make reference thereto
      in its reports. There were no &#8220;reportable events&#8221; as set forth in Item
      304(a)(1)(iv) of Regulation S-B.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
      Somanta&#8217;s two most recent fiscal years and the period from the end of the most
      recent fiscal year to the date of appointment of Stonefield, neither Somanta
      nor
      anyone acting on its behalf consulted with Stonefield with respect to the
      application of accounting principles to a specified transaction, either
      completed or proposed, or the type of audit opinion that might be rendered
      on
      Somanta&#8217;s financial statements, or any other matters or events set forth in
      Items 304(a)(2)(i) and (ii) of Regulation S-B.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">171</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>INDEX
      TO SOMANTA FINANCIAL STATEMENTS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SOMANTA
      PHARMACEUTICALS, INC. AND SUBSIDIARIES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Table
      of
      Contents</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">April
      30,
      2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="76%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Report
                  of Independent Registered Public Accounting
                  Firm</div>
              </td>
              <td align="left" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">173</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="middle" width="76%">&#160;</td>
              <td align="left" valign="middle" width="7%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="76%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Consolidated
                  Balance Sheet &#160;as of April 30, 2006</div>
              </td>
              <td align="left" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">174</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="middle" width="76%">&#160;</td>
              <td align="left" valign="middle" width="7%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="76%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Consolidated
                  Statements of Operations and Comprehensive Loss
                  for the years ended April 30, 2006 and 2005 and for the period
                  from
                  inception of operations (April 19, 2001) to April 30, 2006</div>
              </td>
              <td align="left" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">175</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="middle" width="76%">&#160;</td>
              <td align="left" valign="middle" width="7%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="76%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Consolidated
                  Statements of Stockholders&#8217; Deficit for the period
                  from inception of operations (April 19, 2001) to April 30, 2006</div>
              </td>
              <td align="left" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">176</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="middle" width="76%">&#160;</td>
              <td align="left" valign="middle" width="7%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="76%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Consolidated
                  Statements of Cash Flows for the years ended April
                  30, 2006 and 2005 and for the period from inception of operations
                  (April
                  19, 2001) to April 30, 2006</div>
              </td>
              <td align="left" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">179</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="middle" width="76%">&#160;</td>
              <td align="left" valign="middle" width="7%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="76%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Notes
                  to Consolidated Financial Statements as of April 30,
                  2006</div>
              </td>
              <td align="left" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">180</div>
              </td>
            </tr>

        </table>
      </div><br></div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">172</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Report
      of Independent Registered Public Accounting Firm </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
      the
      Board of Directors of Somanta Pharmaceuticals, Inc. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Irvine,
      California </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have
      audited the accompanying consolidated balance sheet of Somanta Pharmaceuticals,
      Inc., formerly Hibshman Optical Corp. (a development stage company) as of April
      30, 2006, and the related consolidated statements of operations and consolidated
      stockholders&#8217; deficit and consolidated cash flows for the years ended April 30,
      2006 and 2005, and for the period from inception of operations (April 19, 2001)
      to April 30, 2006. These consolidated financial statements are the
      responsibility of the Company&#8217;s management. Our responsibility is to express an
      opinion on these consolidated financial statements based on our audits.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      conducted our audits in accordance with the standards of the Public Company
      Accounting Oversight Board (United States). Those standards require that we
      plan
      and perform the audits to obtain reasonable assurance about whether the
      financial statements are free of material misstatement. The Company is not
      required to have, nor were we engaged to perform, an audit of its internal
      control over financial reporting. Our audits included consideration of internal
      control over financial reporting as a basis for designing audit procedures
      that
      are appropriate in the circumstances, but not for the purpose of expressing
      an
      opinion on the effectiveness of the Company&#8217;s internal control over financial
      reporting. Accordingly, we express no such opinion. An audit includes examining,
      on a test basis, evidence supporting the amounts and disclosures in the
      financial statements. An audit also includes assessing the accounting principles
      used and significant estimates made by management, as well as evaluating the
      overall financial statement presentation. We believe that our audits provide
      a
      reasonable basis for our opinion. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      our
      opinion, the consolidated financial statements referred to above present fairly,
      in all material respects, the financial position of Somanta Pharmaceuticals,
      Inc. as of April 30, 2006, and the results of its operations and its cash flows
      for the years ended April 30, 2006 and 2005, and for the period from inception
      of operations (April 19, 2001) to April 30, 2006, in conformity with accounting
      principles generally accepted in the United States of America. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      accompanying consolidated financial statements have been prepared assuming
      that
      the Company will continue as a going concern. As discussed in Note 1 to the
      consolidated financial statements, the Company&#8217;s operating losses, negative
      working capital and stockholders&#8217; deficit raise substantial doubt about its
      ability to continue as a going concern. Management&#8217;s plans regarding those
      matters also are described in Note 1. The consolidated financial statements
      do
      not include any adjustments that might result from the outcome of this
      uncertainty. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div><u>&#160;/s/&#160; STONEFIELD JOSEPHSON, INC.</u></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">CERTIFIED
      PUBLIC ACCOUNTANTS </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Irvine,
      California </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">June
      16,
      2006 </font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">173</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
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      Hibshman Optical Corp.) </strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Consolidated
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          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Assets</strong></font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Current
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">VAT
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prepaid
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            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                current assets</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,680,454</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="11%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Office
                equipment</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
                net of accumulated depreciation of $1,532 </font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">23,400</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Other
                assets:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Restricted
                funds</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">152,048</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deposits</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,700</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                other assets</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">154,748</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                assets</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,858,602</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Liabilities
                and Stockholders&#8217; Deficit</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Current
                liabilities:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounts
                payable</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">265,800</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
                expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">157,584</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
                research and development expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">155,694</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
                revenue</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">8,572</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Warrant
                liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,855,726</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                current liabilities</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,443,376</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Stockholders&#8217;
                deficit:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Preferred
                stock - $0.001 par value, 20,000,000 shares authorized Series A
                Convertible Preferred Stock, $0.001 par value, 2,000 shares designated,
                592.6318 shares issued and outstanding</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
                Stock, $0.001 par value, 100,000,000 shares authorized, 14,274,534
                shares
                issued and outstanding</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,275</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Additional
                paid-in capital</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,701,458</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deficit
                accumulated during the development stage</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(8,300,508</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                stockholders&#8217; deficit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,584,774</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Total
                liabilities and stockholders&#8217; deficit</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,858,602</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      accompanying notes are an integral part of these financial statements.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">174</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      Pharmaceuticals, Inc. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Formerly
      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(A
      Development Stage Company) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Consolidated
      Statements of Operations and Comprehensive Loss </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Years
      ended April&#160;30, 2006 and 2005 and for the Period from Inception of
      Operations </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(April
      19, 2001) to April&#160;30, 2006 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="5" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Year
                ended April&#160;30,</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" rowspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>From&#160;Inception</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>of
                Operations</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(April&#160;19,&#160;2001)&#160;to</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>April&#160;30,
                2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2005</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Revenue</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,428</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,428</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Operating
                expenses:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>General
                and aministrative</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,461,971</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(755,255</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,687,045</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Research
                and development</strong></font></div>
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            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(647,888</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(374,035</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,198,914</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Loss
                from operations</strong></font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,108,431</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,129,290</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,884,531</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Other
                income (expense):</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Interest
                income</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">12,348</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">12,348</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Interest
                expense</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,016,020</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,016,020</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Change
                in fair value of warrant liabilities</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">137,543</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">137,543</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Gain
                on settlement of debt</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,049</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,049</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Currency
                translation loss</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(30,241</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(30,241</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
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            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,129,290</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,775,852</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Income
                taxes</strong></font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,339</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,339</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Net
                loss</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,002,091</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,129,290</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,778,191</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Deemed
                dividends on convertible preferred stock</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,522,317</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,522,317</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Net
                loss applicable to common shareholders</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,524,408</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,129,290</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(8,300,508</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Comprehensive
                loss-foreign currency translation adjustment</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,719</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Comprehensive
                loss</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,524,408</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,135,009</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(8,300,508</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Net
                loss per share&#8212;basic and diluted</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(0.47</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(0.20</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(0.65</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Weighted
                average number of shares outstanding&#8212;basic and
                diluted</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,274,365</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,576,845</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">13,044,120</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      accompanying notes are an integral part of these financial statements.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">175</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      Pharmaceuticals, Inc. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(Formerly
      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(A
      Development Stage Company) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Consolidated
      Statement of Stockholders&#8217; Deficit </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>For
      the Period from Inception of Operations (April 19, 2001) to April&#160;30, 2006
</strong></font></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="5" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>Preferred&#160;Stock</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="5" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>&#160;Common
                &#160;Stock </strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Additional</font></div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">paid-in</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                </font></div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">to
                be &#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Subscription</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Deferred
                Equity-</font></div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Based</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Accumulated
                Other Comprehesive Loss-Foreign Currency Translation </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Deficit
                Accumulated During Development </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Total
                Stockholders' Equity/</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;Shares</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;Amount
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;Shares</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;Amount
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong>&#160;</strong><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Capital</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Issued</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Receivable</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Expense</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Adjustment</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Stage</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(deficit)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Balance
                at April&#160;19, 2001 (Inception)</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for cash at $.0326</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,299,860</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,300</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">135,680</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(97,245</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">42,735</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for services at $.0139</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">514,674</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">515</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">11,801</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(11,177</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,139</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Amortization
                of deferred expense</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">521</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">521</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Comprehensive
                loss&#8212;foreign currency translation adjustment</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">29,905</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">29,905</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Net
                loss for the period from inception to April&#160;30, 2002</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(95,901</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(95,901</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Balance
                at April&#160;30, 2002</font></div>
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,814,534</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,815</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">147,481</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(97,245</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(10,656</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">29,905</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(95,901</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(21,601</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for cash at $1.0677</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,601</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">15</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">15,575</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">15,590</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for services at $.0214</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">219,010</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">219</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,472</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,127</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,564</font></div>
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          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Amortization
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,808</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,808</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Receipt
                of cash for subscription receivable</font></div>
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">91,517</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">91,517</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Comprehensive
                loss&#8212;foreign currency translation adjustment</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,534</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,534</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Net
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            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(111,456</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Balance
                at April&#160;30, 2003</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,048,145</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,049</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">167,528</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,728</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(9,975</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">31,439</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(207,357</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(19,044</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for cash at $1.2479</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">350,164</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">350</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">436,637</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(81,464</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">355,523</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for services at $1.2587</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">22,233</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">22</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">27,962</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(25,216</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,768</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Amortization
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">7,691</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">7,691</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Exchange
                for loan payment and compensation</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">181,371</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,909</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">184,280</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Comprehensive
                loss&#8212;foreign currency translation adjustment</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(51,651</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(51,651</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="22%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Net
                loss for the year ended April&#160;30, 2004</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <tr>
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            </td>
            <td width="1%">
              <div>&#160;</div>
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            <td align="left" valign="bottom" width="1%">
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            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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                Translation Adjustment</div>
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            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="right" valign="bottom" width="5%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Deficit
                Accumulated During Development Stage</font></font></div>
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            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="right" valign="bottom" width="5%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Total
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">/Deficit</font></div>
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            <td align="left" valign="bottom" width="1%">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="26%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="3%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="3%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Balance
                at April&#160;30, 2004</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,420,541</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,421</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">813,498</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(84,283</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(27,500</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(20,212</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(646,810</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">40,114</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for cash at $1.3218</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">374,073</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">374</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
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          <tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">21,901</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">22</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">26,933</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">26,955</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">3,650
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,465</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,465</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Amortization
                of deferred expense</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">26,939</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">26,939</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Receipt
                of cash for subscription receivable</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">84,283</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">84,283</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Options
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">257,515</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">257,515</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Comprehensive
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,719</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,719</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Net
                loss for the year ended April&#160;30, 2005</font></div>
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            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,129,290</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,129,290</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="3%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="3%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="5%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,465</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,776,100</font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">177</font></div>
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            <td colspan="2" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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            <td colspan="2" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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            <td colspan="2" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td width="1%" style="BORDER-BOTTOM: #ffffff solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Amount&#160;</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares&#160;</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Amount&#160;</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Capital&#160;</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;Issued&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;
                Receivable&#160;</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Expense&#160;</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Adjustment&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Stage&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(Deficit)&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Write
                off foreign currency translation adjustment</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">25,931</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">25,931</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for cash at $1.5656</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">12,669</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">13</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">19,821</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">19,834</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Shares
                issued for prior service</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">3,650</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">3</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">5,462</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(5,465)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Amortization
                of deferred expense</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">561</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">561</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Options
                issued for services</font></div>
            </td>
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            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Convertible
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
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              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">1,286,318</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
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              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">1,522,317</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(1,522,317)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Issuance
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                Convertible Series A Preferred Stock</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(429,757)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(429,757)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Discount
                on warrant issued with Convertible Series A Preferred
                Stock</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(2,048,531)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(2,048,531)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Recapitalization
                with Hibshman Optical Corp. </font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">576,700</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">577</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(7,708)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(7,131)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Warrant
                expense</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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              <div>&#160;</div>
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              <div>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">92,689</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Net
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(5,002,091)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div>&#160;</div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">(5,002,091)</font></div>
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          </tr>
          <tr>
            <td align="left" valign="bottom" width="26%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Balance
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            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">592.6318</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="3%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.5926</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,274,534</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,275</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,701,458</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(8,300,508</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,584,774</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 8pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">The
      accompanying notes are an integral part of these financial statements.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
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      <div id="HDR">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Formerly
      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(A
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Consolidated
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      Operations </strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Year
                ended April&#160;30,</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td colspan="6" rowspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>From
                Inception</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>of
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                2006</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2005</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cash
                flows provided by (used for) operating
                activities:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,002,091</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,129,290</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,778,191</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Adjustments
                to reconcile net loss to net cash provided by (used for) operating
                activities:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,496</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">36</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,532</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amortization
                of stock based expense</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">562</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">26,939</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">39,520</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Write
                off foreign currency translation adjustment</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">25,931</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">25,931</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
                in fair value of warrant liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(137,543</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(137,543</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Shares
                issued for services and compensation</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">26,955</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">219,262</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Shares
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Gain
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,049</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,049</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Options
                expense</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">300,616</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">257,515</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">558,131</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Warrant
                expense</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">92,689</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">92,689</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                expense related to beneficial conversion feature on convertible
                note</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">364,721</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">364,721</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                expense related to warrants issued on convertible note</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">514,981</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">514,981</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Changes
                in assets and liabilities:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Increase)
                decrease in assets&#8212;</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">VAT
                receivable</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">61,952</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(41,924</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,816</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Restricted
                funds</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(152,048</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(152,048</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prepaid
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(82,166</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(8,638</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(90,804</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deposits</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,700</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,700</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Increase
                (decrease) in liabilities:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounts
                payable</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">199,086</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">64,887</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">260,501</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
                liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">137,846</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">117,996</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">301,418</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
                revenue</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">8,572</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">8,572</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Due
                to officer and related party</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(186,263</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">48,369</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(137,894</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                cash used for operating activities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,859,408</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(631,690</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,915,155</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cash
                flows used for investing activities:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Purchase
                of equipment</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(21,391</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,433</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(24,824</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(21,391</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,433</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(24,824</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                cash used for investing activities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cash
                flows provided by financing activities:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loan
                payable&#8212;related party</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">79,402</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loan
                payment&#8212;related party</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,367</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proceeds
                from convertible note-related party</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,250,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,250,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proceeds
                from issuance of common stock</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">19,834</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">494,443</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">928,125</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Proceeds
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,095,831</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,095,831</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
                received for subscription receivable</font></div>
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            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">84,283</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">175,801</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                cash provided by financing activities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,365,665</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">578,726</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,521,792</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Effect
                of exchange rate changes on cash</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">8,463</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,938</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Increase
                (decrease) in cash</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,484,866</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(47,933</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,587,751</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cash</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
                beginning of period</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">102,885</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">150,818</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cash</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
                end of period</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,587,751</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">102,885</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,587,751</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Supplemental
                disclosure of cash flow information:</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                paid</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Supplemental
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loan
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            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,909</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Issuance
                of warrants in conjunction with convertible preferred
                stock</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,341,785</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,341,785</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deemed
                dividends related to convertible preferred stock</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,522,317</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,522,317</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Conversion
                of note and accrued interest</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,286,318</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,286,318</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      accompanying notes are an integral part of these financial statements.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">179</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Formerly
      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(A
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Notes
      to Consolidated Financial Statements </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>1.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ORGANIZATION,
      BASIS OF PRESENTATION AND NATURE OF OPERATIONS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Organization
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Pharmaceuticals, Inc. is a Delaware corporation that was formed for the purpose
      of effecting the reincorporation of Hibshman Optical Corp., a New Jersey
      corporation, into the State of Delaware and for the purpose of consummating
      a
      business combination via a reverse merger of Somanta Incorporated and Hibshman
      Optical Corp.&#160;Pursuant to this reverse merger, Somanta Incorporated became
      the wholly-owned subsidiary of Somanta Pharmaceuticals, Inc. and the sole
      operating subsidiary of Somanta Pharmaceuticals, Inc.&#160;For financial
      reporting purposes, this transaction has been reflected in the accompanying
      financial statements as a recapitalization of Somanta Incorporated and the
      financial statements of Somanta Pharmaceuticals, Inc. reflect the historical
      financial information of Somanta Incorporated.&#160;References herein to the
&#8220;Company&#8221; or &#8220;Somanta&#8221; are intended to refer to each of Somanta Pharmaceuticals,
      Inc. and its wholly owned subsidiary Somanta Incorporated, as well as Somanta
      Incorporated&#8217;s wholly-owned subsidiary Somanta Limited. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Hibshman
      Optical Corp. was originally incorporated in the State of New Jersey in 1991
      under the name PRS Sub I, Inc.&#160;The name was subsequently changed to Service
      Lube, Inc., then to Fianza Commercial Corp. and then to Hibshman Optical
      Corp.&#160;The business plan since that time had been to seek to enter into a
      business combination with an entity that had ongoing operations through a
      reverse merger or other similar type of transaction. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Incorporated was incorporated as Somantis Limited under the laws of England
      and
      Wales on April&#160;19, 2001.&#160;Somantis Limited changed its name to Somanta
      Limited on March&#160;14, 2005, and performed business as a United Kingdom
      entity through the fiscal year ending April&#160;30, 2005.&#160;On
      August&#160;22, 2005, Somanta Limited became a wholly owned subsidiary of Bridge
      Oncology Products, Inc. (&#8220;BOPI&#8221;), a privately held Delaware corporation,
      pursuant to a share exchange with BOPI.; however, Somanta Limited was deemed
      the
      accounting acquirer in this share exchange transaction.&#160;On August&#160;24,
      2005, the name of BOPI was changed to Somanta Incorporated. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Pharmaceuticals, Inc. is a development stage biopharmaceutical company engaged
      in the development of products for the treatment of cancer. The Company has
      in-licensed five product development candidates from academic and research
      institutions in the United States and Europe designed for use in anti-cancer
      therapy in order to advance them along the regulatory and clinical pathways
      toward commercial approval. The Company intends to obtain approval from the
      United States Food and Drug Administration (&#8220;FDA&#8221;) and from the European
      Medicines Evaluation Agency (&#8220;EMEA&#8221;) for the products. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      is a development stage enterprise since the Company has not generated revenue
      from the sale of its products, and its efforts have been principally devoted
      to
      identification, licensing and clinical development of its products as well
      as
      raising capital through April&#160;30, 2006. Accordingly, the financial
      statements have been prepared in accordance with the provisions of Statement
      of
      Financial Accounting Standards (SFAS) No.&#160;7, &#8220;Accounting and Reporting by
      Development Stage Enterprises.&#8221; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      connection with the merger with Somanta Incorporated, Somanta Pharmaceuticals,
      Inc., has changed its fiscal year end from December&#160;31 to April&#160;30
      which is the fiscal year end of Somanta Incorporated. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Basis
      of Presentation </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      accompanying financial statements include the accounts of Somanta
      Pharmaceuticals, Inc. ,formerly Hibshman Optical Corp. (legal acquirer) and
      its
      100&#160;% owned subsidiary, Somanta Incorporated. All significant inter-company
      accounts and transactions have been eliminated in consolidation. The financial
      statements for the period from inception through April&#160;30, 2005 are those
      of Somanta Limited. The preparation of financial statements in conformity with
      generally accepted accounting principles requires management to make estimates
      and assumptions that affect the amounts reported in the financial statements
      and
      accompanying notes.&#160;Actual results could differ from those
      estimates.&#160;In the opinion of management, all adjustments (consisting solely
      of normal recurring adjustments) considered necessary for a fair presentation
      have been included. </font></div>
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      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Going
      Concern </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company reported a net loss of $5,002,091 and net loss applicable to common
      shareholders of $6,524,408 for the year ended April&#160;30, 2006. The net loss
      from date of inception, April&#160;19, 2001 to April&#160;30, 2006, totaled
      $6,778,191 (net loss applicable to common shareholders of $8,300,508). The
      Company&#8217;s operating activities have used cash since its inception. These losses
      raise substantial doubt about the Company&#8217;s ability to continue as a going
      concern. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Continued
      operations will depend on whether the Company is able to raise additional funds
      through various potential sources, such as equity and debt financing. Such
      additional funds may not become available on acceptable terms, and there can
      be
      no assurance that any additional funding that the Company obtains will be
      sufficient to meet its needs in the long term. Through April&#160;30, 2006, a
      significant portion of the Company&#8217;s financing has been through private sales of
      capital stock.&#160;The Company will continue to fund operations from cash on
      hand and through the sources of capital previously described. The Company can
      give no assurance that any additional capital that it is able to obtain will
      be
      sufficient to meet future needs. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company does not expect to have sufficient cash to fund operations through
      the
      third quarter of the fiscal year beginning May&#160;1, 2006, given the current
      and desired pace of clinical development of its product candidates.&#160;If cash
      reserves are not sufficient to sustain operations during that period, management
      plans to raise additional capital by selling shares of capital stock or other
      securities. There can be no assurance that such capital will be available on
      favorable terms or at all. The Company will need additional financing thereafter
      until it can achieve profitability, if ever. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      financial statements do not include any adjustments to reflect the possible
      future effects on the recoverability and classification of assets or the amounts
      and classification of liabilities that may result from the possible inability
      of
      the Company to continue as a going concern. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Reclassifications
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      comparative purposes, prior periods&#8217; consolidated financial statements have been
      reclassified to conform with report classifications of the current period.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Significant
      Accounting Policies </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cash
      and Cash Equivalents </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company considers all highly liquid financial instruments with a maturity of
      three months or less when purchased to be cash equivalents. At April&#160;30,
      2006, there were no cash equivalents. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Office
      Equipment </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Office
      equipment is recorded at cost, net of accumulated depreciation. Depreciation
      on
      equipment is calculated using the straight-line method over the estimated useful
      lives of the assets, five years. The Company recorded depreciation expense
      for
      the years ended April&#160;30, 2006 and 2005 of $1,496 and $36, respectively.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Intangible
      Assets&#8212;Patents and Licenses </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      patent and license costs are charged to expense when incurred. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Revenue
      Recognition </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company recognizes revenue from licensing its proprietary technology in
      accordance with SEC staff Accounting Bulletin No.&#160;104 (&#8220;SAB 104&#8221;). SAB 104
      requires revenue to be recognized when all of the following criteria are met:
      persuasive evidence of an arrangement exists, delivery has occurred or services
      have been rendered, the price is fixed or determined, and collection is
      reasonably assured. Licensing fees, including upfront payments upon execution
      of
      a new agreement, are recognized ratably over the license term of such agreement.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Research
      and Development </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      research and development costs consist of expenditures for royalty payments,
      licensing fees, and contracted research by third parties. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Stock
      Based Compensation </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company adopted the fair value recognition provisions of Financial Accounting
      Standards Board (&#8220;FASB&#8221;) Statement No.&#160;123, &#8220;Accounting for Stock-Based
      Compensation&#8221;, prospectively for all employee options granted, modified, or
      settled after May&#160;1, 2003. In accordance with FASB Statement No.&#160;123,
      the Company has expensed the fair value of the vested options during its fiscal
      year beginning May&#160;1, 2005.&#160;The fair value was estimated using the
      Black-Scholes valuation method, assuming a dividend yield of zero, volatility
      factors ranging from zero to 101.8%, risk-free interest rates prevailing at
      the
      option grant dates which ranged from 4.1% to 4.8%, and expected option lives
      ranging from 6 to 7 years. The amounts recorded as expense in years ended
      April&#160;30, 2006 and 2005, were $300,615 and $257,515, respectively. As of
      April&#160;30, 2006, there were 3,825,249 options outstanding. </font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Translation
      of Foreign Currency in Financial Statements </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">From
      inception through the fiscal year ended April&#160;30, 2005, the functional
      currency of the Company was the United Kingdom pound and its reporting currency
      was United States dollar. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Assets
      and liabilities of foreign operations where the functional currency is other
      than the U.S. dollar are translated at fiscal year-end rates of exchange, and
      the related revenue and expense amounts are translated at the weighted average
      rates of exchange during the fiscal year. Translation adjustments arising from
      differences in exchange rates from these transactions are reported as
      accumulated other comprehensive loss&#8212;foreign currency translation adjustment in
      the statement of stockholders&#8217; deficit. The currency exchange rate as of
      April&#160;30, 2005 was 1.9122 </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      August&#160;22, 2005, the Company, then known as Somanta Limited, took part in a
      share exchange with Bridge Oncology Products, Inc., a Delaware company, and
      became a subsidiary of Bridge Oncology Products, Inc. (Note 10).&#160;As a
      result of this transaction, Somanta Limited became a wholly owned subsidiary
      of
      a U.S. entity and accordingly changed its functional currency to the U.S. dollar
      as of the fiscal year beginning May&#160;1, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Use
      of Estimates </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      preparation of financial statements in conformity with accounting principles
      generally accepted in the United States of America requires management to make
      estimates and assumptions that affect the reported amounts of assets and
      liabilities at the date of the consolidated financial statements and the
      reported amounts of revenues and expenses during the reporting period. Actual
      results could differ from those estimates. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Income
      Taxes </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
      taxes are provided for on a liability method for temporary differences between
      the financial reporting and tax basis of assets and liabilities that will result
      in taxable or deductible amounts in the future. Deferred tax assets are reduced
      by a valuation allowance when, in the opinion of management, it is more likely
      than not that some portion or all of the deferred tax assets will be realized.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
      taxes are calculated in accordance with the tax laws of the United States for
      the year ended April&#160;30, 2006, and in accordance with the tax laws of
      England and Wales for the year ended April&#160;30, 2005 where the Company was
      located. Since the Company had net losses for the years ended April&#160;30,
      2006 and 2005, provisions for income taxes in the financial statements include
      only state minimum taxes for the year ended April&#160;30, 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Segment
      Reporting </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company has adopted SFAS No.&#160;131, &#8220;Disclosures about Segments of an
      Enterprise and Related Information.&#8221; Since the Company operates in one business
      segment dedicated to development of therapeutic candidates for the treatment
      of
      cancers, segment disclosure has not been presented. Through fiscal 2005, all
      of
      the Company&#8217;s assets and operations were located in UK. In fiscal 2006, a
      majority of the Company&#8217;s assets and the headquarters of the corporation have
      been moved to the United States. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Fair
      Value of Financial Instruments </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Statement
      of Financial Accounting Standard No.&#160;107, Disclosures about Fair Value of
      Financial Instruments, requires that the company disclose estimated fair values
      of financial instruments. The carrying amounts reported in the balance sheets
      for current assets and current liabilities qualifying as financial instruments
      are a reasonable estimate of fair value. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Basic
      and diluted net loss per share </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
      loss
      per share is calculated in accordance with the Statement of Financial Accounting
      Standards No.&#160;128 (SFAS No.&#160;128), Basic net loss per share is based
      upon the weighted average number of common shares outstanding. Diluted net
      loss
      per share is based on the assumption that all potential dilutive convertible
      shares and stock options or warrants were converted or exercised. The
      calculation of diluted net loss per share excludes potential common stock
      equivalents if the effect is anti-dilutive. The Company&#8217;s weighted common shares
      outstanding for basic and dilutive were the same since the effect of common
      stock equivalents was anti-dilutive. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company has the following dilutive convertible shares, stock options and
      warrants as of April&#160;30, 2006 and 2005 which were excluded from the
      calculation since the effect is anti-dilutive. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">182</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" width="95%">

          <tr>
            <td align="left" valign="middle" width="40%">&#160;</td>
            <td align="left" valign="middle" width="12%">&#160;</td>
            <td width="3%">&#160;</td>
            <td align="left" valign="middle" width="11%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td width="3%">&#160;</td>
            <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2005</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Convertible
                preferred stock</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">9,877,194</font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stock
                options</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,825,249</font></div>
            </td>
            <td width="3%">&#160;</td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,204,701</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Warrants</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6,952,838</font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">20,655,281</font></div>
            </td>
            <td width="3%">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,204,701</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company&#8217;s undeclared dividend on Preferred Stock amounting $115,604 was included
      in the computation of net loss per share in accordance with SFAS No.&#160;129
      (note 12). </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Recent
      Accounting Pronouncements </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      December&#160;16, 2004, the FASB issued SFAS No.&#160;123 (revised 2004),
&#8220;Share-Based Payment&#8221; (SFAS 123R). SFAS 123R eliminates the alternative of
      applying the intrinsic value measurement provisions of APB 25 to stock
      compensation awards issued to employees. Rather, the new standard requires
      enterprises to measure the cost of employee services received in exchange for
      an
      award of equity instruments based on the grant-date fair value of the award.
      That cost will be recognized over the period during which an employee is
      required to provide services in exchange for the award, known as the requisite
      service period (usually the vesting period). On April&#160;14, 2005, the
      Securities and Exchange Commission (&#8220;SEC&#8221;) announced the adoption of a rule that
      defers the required effective date of SFAS 123R. The SEC rule provides that
      SFAS
      123R is now effective for registrants as of the beginning of the first fiscal
      year beginning after June&#160;15, 2005. SFAS 123R will be effective for our
      fiscal year beginning May&#160;1, 2006, and allows for the use of the Modified
      Prospective Application Method. Under this method, SFAS 123R is applied to
      new
      awards and to awards modified, repurchased, or cancelled after the effective
      date. Additionally, compensation cost for the portion of awards for which the
      requisite service has not been rendered (such as unvested options) that are
      outstanding as of the date of adoption is recognized as the remaining requisite
      services are rendered. The compensation cost relating to unvested awards at
      the
      date of adoption shall be based on the grant-date fair value of those awards
      as
      calculated for pro forma disclosures under the original SFAS 123. In addition,
      companies may use the Modified Retrospective Application Method. This method
      may
      be applied to all prior years for which the original SFAS 123 was effective
      or
      only to prior interim periods in the year of initial adoption. If the Modified
      Retrospective Application Method is applied, financial statements for prior
      periods will be adjusted to give effect to the fair-value-based method of
      accounting for awards on a consistent basis with the pro forma disclosures
      required for those periods under the original SFAS 123. Management does not
      believe SFAS 123R will have a material impact on the financial statements.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      March
      2005, the SEC released Staff Accounting Bulletin No.&#160;107, &#8220;Share-Based
      Payment&#8221; (&#8220;SAB 107&#8221;), which provides interpretive guidance related to the
      interaction between SFAS 123R and certain SEC rules and regulations. It also
      provides the SEC staff&#8217;s views regarding valuation of share-based payment
      arrangements. In April 2005, the SEC amended the compliance dates for SFAS
      123R,
      to allow companies to implement the standard at the beginning of their next
      fiscal year, instead of the next reporting period beginning after June&#160;15,
      2005. Management does not believe SFAS 123R will have a material impact on
      the
      financial statements. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      May
      2005, the FASB issued FASB Statement No.&#160;154,</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>
      Accounting Changes and Error Corrections.</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      This new
      standard replaces APB Opinion No.&#160;20,</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>
      Accounting Changes,</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      and FASB
      Statement No.&#160;3,</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>
      Reporting Accounting Changes in Interim Financial Statements, </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
      represents another step in the FASB&#8217;s goal to converge its standards with those
      issued by the IASB. Among other changes, Statement 154 requires that a
      voluntary</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#160;</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">change
      in
      accounting principle be applied retrospectively with all prior period financial
      statements presented on the new accounting principle, unless it is impracticable
      to do so. Statement 154 also provides that (1)&#160;a change in method of
      depreciating or amortizing a long-lived nonfinancial asset be accounted for
      as a
      change in estimate (prospectively) that was effected by a change in accounting
      principle, and (2)&#160;correction of errors in previously issued financial
      statements should be termed a &#8220;restatement.&#8221; The new standard is effective for
      accounting changes and correction of errors made in fiscal years beginning
      after
      December&#160;15, 2005. Early adoption of this standard is permitted for
      accounting changes and correction of errors made in fiscal years beginning
      after
      June&#160;1, 2005. Management believes that changes resulting from adoption of
      the FASB will not have a material effect on the financial statements taken
      as a
      whole.</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>&#160;</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      June
      2005, the EITF reached a consensus on Issue 05-6, &#8220;Determining the Amortization
      Period for Leasehold Improvements,&#8221; which requires that leasehold improvements
      acquired in a business combination or purchased subsequent to the inception
      of a
      lease be amortized over the lesser of the useful life of the assets or a term
      that includes renewals that are reasonably assured at the date of the business
      combination or purchase. EITF 05-6 is effective for periods beginning after
      June&#160;29, 2005. Earlier application is permitted in periods for which
      financial statements have not been issued. The adoption of this Issue did not
      have an impact on the Company&#8217;s financial statements. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">183</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In&#160;February
      2006, the FASB decided to move forward with the issuance of a final FSP FAS
      123R-4 Classification of Options and Similar Instruments Issued as Employee
      Compensation That Allow for Cash Settlement upon the Occurrence of a Contingent
      Event. The guidance in this FSP FAS 123R-4 amends paragraphs 32 and A229 of
      FASB
      Statement No.&#160;123R to incorporate the concept articulated in footnote 16 of
      FAS 123R. That is, a cash settlement feature that can be exercised only upon
      the
      occurrence of a contingent event that is outside the employee&#8217;s control does not
      meet the condition in paragraphs 32 and A229 until it becomes probable that
      the
      event will occur. Originally under FAS 123R, a provision in a share-based
      payment plan that required an entity to settle outstanding options in cash
      upon
      the occurrence of any contingent event required classification and accounting
      for the share based payment as a liability. This caused an issue under certain
      awards that require or permit, at the holder&#8217;s election, cash settlement of the
      option or similar instrument upon (a)&#160;a change in control or other
      liquidity event of the entity or (b)&#160;death or disability of the holder.
      With this new FSP, these types of cash settlement features will not require
      liability accounting so long as the feature can be exercised only upon the
      occurrence of a contingent event that is outside the employee&#8217;s control (such as
      an initial public offering) until it becomes probable that event will occur.
      The
      guidance in this FSP shall be applied upon initial adoption of Statement
      123</font><font style="DISPLAY: inline; FONT-SIZE: 6pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      An
      entity that adopted Statement 123</font><font style="DISPLAY: inline; FONT-SIZE: 6pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">
      prior to
      the issuance of the FSP shall apply the guidance in the FSP in the first
      reporting period beginning after February 2006. Early application of FSP FAS
      123R-4 is permitted in periods for which financial statements have not yet
      been
      issued. The Company does not anticipate that this new FSP will have any material
      impact upon its financial condition or results of operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      February 2006, the FASB issued SFAS 155 &#8220;Accounting for Certain Hybrid Financial
      Instruments, an amendment of FASB Statements No.&#160;133 and In February 2006,
      the FASB issued SFAS 155 &#8220;Accounting for Certain Hybrid Financial Instruments,
      an amendment of FASB Statements No.&#160;133 and 140&#8221;.&#160;This Statement
      amends FASB Statements No.&#160;133, Accounting for Derivative Instruments and
      Hedging Activities, and No.&#160;140, Accounting for Transfers and Servicing of
      Financial Assets and Extinguishments of Liabilities. This Statement resolves
      issues addressed in Statement 133 Implementation Issue No. D1,&#160;Application
      of Statement 133 to Beneficial Interests in Securitized Financial Assets. This
      Statement: </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a.&#160;Permits
      fair value re-measurement for any hybrid financial instrument that contains
      an
      embedded derivative that otherwise would require bifurcation; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      which interest-only strips and principal-only strips are not subject to the
      requirements of Statement 133; </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">c.&#160;Establishes
      a requirement to evaluate interests in securitized financial assets to identify
      interests that are freestanding derivatives or that are hybrid financial
      instruments that contain an embedded derivative requiring bifurcation;
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      that concentrations of credit risk in the form of subordination are not embedded
      derivatives; and </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">e.&#160;Amends
      Statement 140 to eliminate the prohibition on a qualifying special-purpose
      entity from holding a derivative financial instrument that pertains to a
      beneficial interest other than another derivative financial instrument.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
      Statement is effective for all financial instruments acquired or issued after
      the beginning of an entity&#8217;s first fiscal year that begins after
      September&#160;15, 2006. The fair value election provided for in paragraph 4 of
      this Statement may also be applied upon adoption of this Statement for hybrid
      financial instruments that had been bifurcated under paragraph 12 of Statement
      133 prior to the adoption of this Statement. Earlier adoption is permitted
      as of
      the beginning of an entity&#8217;s fiscal year, provided the entity has not yet issued
      financial statements, including financial statements for any interim period
      for
      that fiscal year. Provisions of this Statement may be applied to instruments
      that an entity holds at the date of adoption on an instrument-by-instrument
      basis. The Company is currently evaluating the impact of&#160;SFAS 155.
</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      March
      2006, the FASB issued SFAS No.&#160;156 (&#8220;FAS 156&#8221;), &#8220;Accounting for Servicing
      of Financial Assets&#8212;An Amendment of FASB Statement No.&#160;140.&#8221; Among other
      requirements, FAS 156 requires a company to recognize a servicing asset or
      servicing liability when it undertakes an obligation to service a financial
      asset by entering into a servicing contract under certain situations. Under
      FAS
      156 an election can also be made for subsequent fair value measurement of
      servicing assets and servicing liabilities by class, thus simplifying the
      accounting and provide for income statement recognition of potential offsetting
      changes in the fair value of servicing assets, servicing liabilities and related
      derivative instruments. The Statement will be effect beginning the first fiscal
      year that begins after September&#160;15, 2006. The Company does not expect the
      adoption of FAS 156 will have a material impact on our financial position or
      results of operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      certain provisions of the patent know-how and exclusive sublicense agreement
      with Immunodex, the Company made a deposit of $150,000 into an escrow account
      (Note 14). This amount will be released from escrow to Immunodex based on the
      successful completion of the huBrE-3mAb testing. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">184</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
      expenses consist of the following at April&#160;30, 2006: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                &amp; vacation</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consultant</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">687</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,048</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>5.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>WARRANT
      LIABILITIES </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company issued 6,792,852 warrants in conjunction with convertible note (Note
      11)
      and private placement (Note 12). These warrants have registration rights for
      the
      underlying shares. EITF 00-19 provides that contracts that include any provision
      that could require net-cash settlement cannot be accounted for as equity of
      the
      Company. The warrant agreements require net cash settlement, at the option
      of
      the holders, in the event the Company fails to issue and deliver common stock
      on
      exercise of the warrants within three business days of receipt of a written
      exercise notice by a holder. Pursuant to EITF 00-19, the fair value of the
      warrants revalued at April&#160;30, 2006 was recorded as a warrant liability
      amounting $2,855,726. The change in fair value of warrant liabilities from
      the
      issuance date to the balance sheet date in the amount of $137,543 was recorded
      as other income in the consolidated statements of operations. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>6.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>RELATED
      PARTY TRANSACTIONS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Fees
      Paid to Related Party </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
      to a financial advisory agreement dated March 2005 between Bridge Oncology
      and
      SCO Financial Group LLC (SCO), which the Company has assumed, the Company
      compensates SCO with a monthly fee of $12,500 and an annual grant of warrants
      to
      purchase 150,000 shares of Company common stock at an exercise price of $.001
      for the term of the agreement for financial advisory services. In connection
      with the issuance of the $1,250,000 convertible secured note (Note 11) and
      the
      convertible preferred stock (Note 12), the Company had accrued a fee of $474,105
      payable to SCO, which is a major shareholder of the Company. This fee and
      accrued fees of $141,870 for advisory services and other expenses were paid
      in
      full in February 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Loan
      Payable, Officer </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      February 2006, the Company repaid the $81,000 loan to its president and Chief
      Executive Officer. This loan was interest free and payable on the completion
      of
      a significant financing. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Agreement
      with Related Party </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Advance
      Cardiovascular Devices, LLC </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      August
      2004, the Company entered into a research collaboration and license agreement
      with a related party, Advanced Cardiovascular Devices, LLC (ACD). These two
      entities shared a common board member at that time. In August 2005, ACD paid
      the
      Company a non-refundable licensing fee of $10,000 (Note 14). </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Virium
      Pharmaceuticals, Inc. </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company entered into an exclusive co-development and sublicense agreement in
      February 2005 with a related entity, Virium Pharmaceuticals, Inc. These two
      entities share a common director and their largest single shareholder, SCO
      Capital Partners LLC. On May&#160;19, 2005, the Company paid $50,000 to this
      related party to in-license phenylbutyrate and expensed this amount.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">185</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>7.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>LEASES
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      lease
      on the Company&#8217;s London office space of approximately 500 sq. ft. for its UK
      operations is an operating lease expiring on May&#160;16, 2007.&#160;Lease
      expense for the years ended April&#160;30, 2006 and 2005 were $26,724 and
      $10,709, respectively. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      October&#160;1, 2005, the Company entered into an operating lease agreement for
      its San Diego, CA office space of approximately 250 sq.ft. expiring
      September&#160;30, 2006. Lease expense for the year ended April&#160;30, 2006
      was $17,500. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Future
      commitments under operating leases are as follows: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="95%">

          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Year
                Ended April&#160;30,</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">36,186</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2008</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">987</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                minimum lease payment</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">37,173</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>8.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>INCOME
      TAXES </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      significant components of the Company&#8217;s income tax provision (benefit) at
      April&#160;30, 2006 and April&#160;30, 2005 are as follows: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="95%">

          <tr>
            <td align="left" valign="middle" width="40%">&#160;</td>
            <td align="left" valign="middle" width="12%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="middle" width="10%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>April&#160;30,</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>April&#160;30,</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2005</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                Taxes:</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Federal</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td width="1%">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">State</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,339</font></div>
            </td>
            <td width="1%">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Foreign</font></div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2,339</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
                Taxes:</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Federal</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td width="1%">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">State</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td width="1%">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Foreign</font></div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      principal components of the Company&#8217;s deferred tax assets at April&#160;30, 2006
      and April&#160;30, 2005 are as follows: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="95%">

          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>April&#160;30,</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>April&#160;30,</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2005</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">US
                Net Operating Loss Carryforwards at statutory rate</font></div>
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            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,107,000</font></div>
            </td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
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          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">UK
                Net Operating Loss Carryforwards at statutory rate</font></div>
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            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">703,000</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">462,000</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,810,000</font></div>
            </td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">462,000</font></div>
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          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Less
                Valuation Allowance</font></div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,810,000</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(462,000</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                Deferred Tax assets</font></div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">A
      reconciliation of the provision (benefit) for income taxes to the amount
      computed by applying the statutory income tax rate to the loss before income
      taxes is as follows: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="95%">

          <tr>
            <td align="left" valign="middle" width="40%">&#160;</td>
            <td align="left" valign="middle" width="12%">&#160;</td>
            <td width="1%">&#160;</td>
            <td align="left" valign="middle" width="11%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>April&#160;30,</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>April&#160;30,</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2005</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
                tax (benefit) expense at statutory rate</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1,701,000</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(450,000</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Non
                Deductible Expenses at statutory rate</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">335,000</font></div>
            </td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(12,000</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other</font></div>
            </td>
            <td align="left" valign="bottom" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">18,000</font></div>
            </td>
            <td width="1%">&#160;</td>
            <td align="left" valign="bottom" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
                in valuation allowance at statutory rate</font></div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1,348,000</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">462,000</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company has established a valuation allowance against its deferred tax asset,
      due to the uncertainty of the realization of the asset. Management periodically
      evaluates the recoverability of the deferred tax asset. At such time as it
      is
      determined that it is more likely than not that deferred tax assets are
      realizable, the valuation allowance will be reduced. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">At
      April&#160;30, 2006 and 2005, the Company had US net operating loss
      carryforwards of approximately $3,256,000 and $0 respectively, which may be
      available to offset future taxable income for tax purposes. These net operating
      loss carryforwards expire in 2026. At April&#160;30, 2006 and 2005, the Company
      also had UK net operating loss carryforwards of approximately $2,696,000 and
      $1,776,000 respectively. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Internal Revenue Code limits the availability of net operating losses that
      arose
      prior to certain cumulative changes in a corporation&#8217;s ownership resulting in a
      change of control of the Company. The Company&#8217;s use of $167,000 of its prior net
      operating loss carryforwards will be significantly limited, because the Company
      underwent &#8220;ownership changes&#8221; during the fiscal year ended April&#160;30, 2006.
      Further, the use of UK net operating loss carryforwards may be limited.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">186</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>9.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>STOCKHOLDERS&#8217;
      TRANSACTIONS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Common
      Stock </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">From
      inception through April&#160;30, 2003, the Company financed its operations
      through the sale of 4,314,461 shares of common stock to individual investors
      at
      prices in United Kingdom Pounds translated into US Dollars ranging from
      approximately $0.03, to $1.10, for a total of $155,570. Of this total, $5,728
      remained unpaid at the end April&#160;30, 2003 and was recorded as subscription
      receivable. In addition, 733,684 shares were issued at $0.03 for the services
      of
      consultants, for a total of $17,007.&#160;Of this total, $9,975 was recorded to
      deferred equity-based expense, because some services were performed in the
      subsequent years.&#160;The services were accounted for at the fair value of the
      common stock issued, measured at the dates the commitments for service were
      reached with the contractors.&#160;The fair value of these shares was determined
      as equal to the value at which shares were being sold to unaffiliated investors
      at the times of the commitments for service. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      year ending April&#160;30, 2004, the Company completed additional sales of
      350,164 shares of common stock at approximately $1.23 for a total of $436,987.
      At the end of April&#160;30, 2004, the amount remaining unpaid for all prior
      equity sales was $84,283 and was recorded as subscription receivable.&#160;The
      Company issued 22,233 shares of common stock at approximately $1.23 for the
      services of a consultant, for a total of $27,985.&#160;Of this total, $25,216
      was recorded as deferred equity-based expense. During the year ended
      April&#160;30, 2004, 146,007 issued shares were purchased by the President and
      Chief Executive Officer of the Company from an individual who had not paid
      for
      the shares.&#160;The fair value of these shares, was determined as equal to the
      value at which shares were being sold to all other unaffiliated investors at
      the
      time of this share purchase. The Company recorded the difference between the
      purchase price and the fair value of the shares as compensation expense
      amounting to $181,371. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      year ending April&#160;30, 2005, the Company sold 374,074 shares to individual
      investors at approximately $1.33, for a total of $494,443.&#160;In this period,
      21,901 shares of common stock were issued at approximately $1.23 per share
      for
      the services of a consultant, for a total of $26,955. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">During
      the year ended April&#160;30, 2006, the Company sold 12,669 shares to an
      individual investor at approximately $1.57, for a total of $19,834. In this
      period, 3,650 shares of common stock were issued at approximately $1.50 in
      satisfaction of the shares to be issued at April&#160;30, 2005 for a balance of
      $5,465. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Stock
      Options </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Board
      of Directors adopted and the stockholders approved the 2005 Equity Incentive
      Plan in June 2005.&#160;The plan was adopted to recognize the contributions made
      by the Company&#8217;s employees, officers, consultants, and directors, to provide
      those individuals with additional incentive to devote themselves to its future
      success, and to improve the Company&#8217;s ability to attract, retain and motivate
      individuals upon whom the Company&#8217;s growth and financial success
      depends.&#160;Under the plan, stock options may be granted as approved by the
      Board of Directors or the Compensation Committee.&#160;There are 8,000,000
      shares reserved for grants of options under the plan, of which 2,204,701 have
      been issued as substitutions with exact same terms for the 2,204,701 previously
      issued options outstanding as of April&#160;30, 2005. Stock options vest
      pursuant to individual stock option agreements.&#160;No options granted under
      the plan are exercisable after the expiration of ten years (or less in the
      discretion of the Board of Directors or the Compensation Committee) from the
      date of the grant.&#160;The plan will continue in effect until terminated or
      amended by the Board of Directors or until expiration of the plan on
      August&#160;31, 2015. As of April&#160;30, 2006, 4,174,751 shares were available
      for future grants. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      year ended April&#160;30, 2005, options to purchase 2,204,701 shares were
      granted with an exercise price of $1.23, equal to the fair market value of
      the
      stock in that period. In accordance with FASB Statement No.&#160;123, the
      Company has expensed $257,515, the fair value of the vested options that year.
      The fair value was estimated using the Black-Scholes valuation method, assuming
      a dividend yield of zero, a volatility factor of zero, risk-free interest rates
      prevailing at the option grant dates which ranged from 4.1% to 4.7%, and
      expected option lives ranging from 3.5 to 5.7 years. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
      the
      year ended April&#160;30, 2006, options to purchase 1,781,170 shares were
      granted with an exercise price of $0.60, equal to the fair market value of
      the
      stock in that period. In accordance with FASB Statement No.&#160;123, the
      Company has expensed $300,615, the fair value of the vested options that year.
      The fair value was estimated using the Black-Scholes valuation method, assuming
      a dividend yield of zero, volatility factors ranging from zero to 101.8%,
      risk-free interest rates prevailing at the option grant dates which ranged
      from
      4.1% to 4.8%, and expected option lives ranging from 6 to 7 years. The fair
      market value of the stock used in the Black-Scholes valuation model was equal
      to
      the most recent value at which shares were being sold to unaffiliated investors.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">187</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table summarizes activity for stock options issued to employees and
      directors for the years ended April&#160;30, 2006 and 2005: </font></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Wtd.&#160;Avg</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Price</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                April&#160;30, 2004</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,204,701</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1.23</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercised</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expired</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                April&#160;30, 2005</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,204,701</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1.23</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,781,170</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">.60</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercised</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(160,622</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1.23</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expired</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                April&#160;30, 2006</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,825,249</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">.94</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table summarizes information about Company stock options outstanding
      as of April&#160;30, 2006: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" id="ftable" width="95%">

          <tr>
            <td align="left" colspan="10" valign="bottom" width="43%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Options
                Outstanding</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="5" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Options
                Exercisable</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Range&#160;of</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Prices</strong></font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Number</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Outstanding</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Wtd.
                Avg</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Remaining</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Contr.&#160;Life</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Wtd.&#160;Avg</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Number</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercisable</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Wtd.&#160;Avg</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">$.60-$1.23</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,825,249</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">7.9
                years</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">.94</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,976,121</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1.22</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Stock
      Warrants </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Through
      the year ended April&#160;30, 2005, the Company issued no warrants. During the
      year ended April&#160;30, 2006, the Company issued warrants to non-employees to
      purchase up to 6,952,838 common shares over periods ranging from 5 to 7 years
      at
      prices ranging from $0.01 to $2.25. Included in the warrants issued were
      warrants to a non-employee to purchase up to 9,987 common shares over a five
      year period at a price of $2.25. In accordance with EITF 96-18, the Company
      determined that the fair value of the equity instrument issued was more reliably
      measured because it was difficult to determine the value of the services
      performed. In accordance with FASB Statement No.&#160;123, the Company has
      expensed the fair value of all the warrants issued during the year. The fair
      value was estimated using the Black-Scholes valuation method. The assumptions
      utilized in the valuation model were a dividend yield of zero, volatility
      factors ranging from 76.5 to 97.2%, the risk-free interest rates prevailing
      at
      the warrant issuance dates, which ranged from 4.1 to 4.9%, and expected warrant
      lives ranging from 2.5 to 3.5 years. The fair market value of the warrants
      used
      in the Black-Scholes valuation model was equal to the most recent value at
      which
      shares were being sold to unaffiliated investors. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table summarizes the activity for warrants issued during the year
      ended April&#160;30, 2006. The Company issued no warrants during the years ended
      April&#160;30, 2005 and 2004. </font></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" id="ftable" width="95%">

          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Wtd.&#160;Avg.</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Price</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                April 30, 2005</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,952,838</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">.62</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercised</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expired</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="40%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                April 30, 2006</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,952,838</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">.62</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following table summarizes information about warrants outstanding as of
      April&#160;30, 2006: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" id="ftable" width="95%">

          <tr>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" colspan="10" valign="bottom" width="42%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Warrants
                Outstanding</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="5" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Warrants
                Exercisable</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Prices</strong></font></td>
            <td width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Number</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Outstanding</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Wtd.
                Avg</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Remaining</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Contr.&#160;Life</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Wtd.&#160;Avg</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Number</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercisable</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Wtd.&#160;Avg</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Price</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td width="1%">&#160;</td>
            <td width="1%">&#160;$</td>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.01</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,016,534</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6.6
                years</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.01</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,016,534</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.01</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td width="1%">&#160;</td>
            <td width="1%">&#160;$</td>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.60</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">987,720</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5.8
                years</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.60</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">987,720</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.60</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td width="1%">&#160;</td>
            <td width="1%">&#160;$</td>
            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0.75</font></div>
            </td>
            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,938,597</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5.8
                years</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.75</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,938,597</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.75</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td width="1%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.25</font></div>
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            <td width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4.1
                years</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2.25</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">9,987</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2.2</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">188</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>10.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SHARE
      EXCHANGE AGREEMENT AND PLAN OF MERGER AGREEMENT </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      August&#160;22, 2005, Somanta Limited, a company organized under the laws of
      England and Wales, became a wholly-owned subsidiary of Bridge Oncology Products,
      Inc. (&#8220;BOPI&#8221;), a privately held Delaware corporation pursuant to a share
      exchange with BOPI.&#160;BOPI was formed in February 2005, and its only
      operation was to in-license a product development candidate for development
      outside the United States and Canada. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Under
      the
      terms of a Share Exchange Agreement by and among BOPI, Somanta Limited, and
      the
      shareholders and option holders of Somanta Limited, BOPI (i)&#160;issued
      5,832,834 shares of BOPI to the twenty-five holders of 79,898,686 ordinary
      shares of Somanta Limited and (ii)&#160;issued substitute options to purchase
      2,032,166 shares of BOPI to the eleven holders of Somanta Limited options
      covering 27,836,800 ordinary shares of Somanta Limited. The exchange ratio
      in
      the share exchange was 1 share of BOPI for each 13.698 shares of Somanta
      Limited. As a result of this share exchange, the shareholders of Somanta Limited
      owned 50% of the fully diluted ownership of BOPI, and the holders of BOPI owned
      the remaining 50%. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      Limited options were all priced at 5 pence pursuant to Somanta Limited&#8217;s Board
      resolution dated May&#160;18, 2005. These option grant prices were converted
      into US dollars at the exchange rate on June&#160;13, 2005, to $0.09 per
      share.&#160;After the exchange ratio from the share exchange was applied, these
      options now have an exercise price of $1.232828 per share for each BOPI option
      issued in the share exchange. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      acquisition was accounted for as a recapitalization, as described in FASB 141,
      17-3. This transaction is treated as a capital transaction in substance, rather
      than a business combination. That is, the transaction is equivalent to Somanta
      Limited issuing stock for the net monetary assets of BOPI, accompanied by a
      recapitalization. The assets of BOPI were recorded at the historical value.
      The
      intangible asset on BOPI&#8217;s books was written off to the income statement on the
      date of the acquisition (August 22, 2005).&#160;Accordingly, the historical
      financial statements of Somanta Limited became the historical financial
      statements of BOPI after this transaction. In accounting for this transaction,
      since Somanta Limited is deemed to be the purchaser and surviving company,
      its
      net assets have been included in the consolidated balance sheets at their
      historical book values. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      August&#160;24, 2005, the name of BOPI was changed to Somanta Incorporated
      (&#8220;SI&#8221;). </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      September&#160;7, 2005, SI entered into a letter of intent to effect a merger
      with Hibshman Optical Corp (&#8220;Hibshman&#8221;), a New Jersey corporation, and a public
      reporting company that did not have a market for its common stock.&#160;Hibshman
      was formed in 1991 under the name PRS Sub I, Inc., as a subsidiary of People
      Ridesharing Systems, Inc. (&#8220;PRS&#8221;), a public corporation that had filed for
      Bankruptcy in 1989. In March 1992 the name of PRS Sub I was changed to Service
      Lube, Inc., in anticipation of becoming an operating business. In April 1992
      the
      name was changed to Fianza Commercial Corp. Again in April 1992 the name was
      changed to Hibshman. Hibshman never had an operating business, its stock never
      traded publicly, and its shareholders never received stock certificates.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      September&#160;27, 2005, Hibshman, pursuant to an action taken by the written
      consent of its board and shareholders, adopted an Agreement and Plan of Merger
      to effect the reincorporation of Hibshman into Delaware prior to the merger
      with
      SI.&#160;Hibshman formed a new Delaware corporation which was a wholly owned
      subsidiary of Hibshman (&#8220;Delaware NewCo&#8221;).&#160;At the closing of the
      reincorporation, Hibshman merged into Delaware NewCo and each outstanding
      Hibshman share was exchanged for .01305340 of Delaware NewCo shares with each
      registered holder of a fractional share being issued 50 Delaware NewCo shares
      in
      lieu of such fractional share.&#160;Delaware NewCo was the surviving entity and
      the successor issuer under the Exchange Act and had 576,700 outstanding
      shares.&#160;Delaware NewCo was named &#8220;Somanta Pharmaceuticals, Inc.&#8221;
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January&#160;31, 2006, pursuant to an Agreement and Plan of Merger by and among
      Delaware NewCo, SI, and Somanta Merger Sub (&#8220;Merger Sub&#8221;), a wholly-owned
      subsidiary of Delaware NewCo, SI merged with Merger Sub and became a
      wholly-owned subsidiary of Delaware NewCo.&#160;In connection with this merger
      transaction, Delaware NewCo issued to the holders of SI capital stock an
      aggregate of 13,697,834 shares of Delaware NewCo common stock and assumed the
      SI
      2005 Equity Incentive Plan and all options outstanding thereunder which options
      became options to purchase 3,831,864 shares of Delaware NewCo common stock.
      As a
      result, (i)&#160;the shareholders and optionholders of SI owned approximately
      97% of the total outstanding common stock of Delaware NewCo on a fully diluted
      basis, (ii)&#160;Delaware NewCo assumed the SI 2005 Equity Incentive Plan and
      reserved 8,000,000 common shares for issuance under the Plan, and
      (iii)&#160;Delaware NewCo changed its name to Somanta Pharmaceuticals, Inc.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">189</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
      summarize, Hibshman has merged into Delaware NewCo, which changed its name
      to
      Somanta Pharmaceuticals, Inc.&#160;Somanta Pharmaceuticals created a subsidiary
      known as Merger Sub.&#160;Merger Sub merged into Somanta Incorporated and
      Somanta Incorporated became the wholly-owned subsidiary of Somanta
      Pharmaceuticals, Inc. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      acquisition was accounted for as a recapitalization, as described in FASB 141,
      17-3. This transaction is treated as a capital transaction in substance, rather
      than a business combination. That is, the transaction is equivalent to Somanta
      Incorporated issuing stock for the net monetary assets of Hibshman Optical
      Corp., accompanied by a recapitalization. Accordingly, the historical financial
      statements of Somanta Incorporated became the historical financial statements
      of
      Hibshman Optical Corp. after this transaction. In accounting for this
      transaction, since Somanta Incorporated is deemed to be the purchaser and
      surviving company, its net assets have been included in the consolidated balance
      sheets at their historical book values. Somanta Pharmaceuticals, Inc., elected
      to change the fiscal year end from December&#160;31 to April&#160;30 of Somanta
      Incorporated. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>11.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>CONVERTIBLE
      NOTE </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      August&#160;23, 2005, Bridge Oncology Products, Inc. (&#8220;BOPI&#8221;) issued a
      $1,000,000 secured convertible note to SCO Capital Partners LLC
      (&#8220;SCO&#8221;).&#160;The note was secured by BOPI&#8217;s assets, carries an annual interest
      rate of 7.5%, and was due at the earlier of (i)&#160;BOPI&#8217;s completion of a
      qualified equity financing of at least $10,000,000 or (ii)&#160;August&#160;23,
      2006.&#160;SCO had the option to be repaid in cash or to convert the debt into
      the shares of a qualified equity financing at the lowest price paid by
      institutional investors. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      November&#160;7, 2005, SCO agreed to expand its secured convertible note to SI
      from $1,000,000 up to $1,250,000. Under the terms of the revised arrangement
      with SI, the security and interest rate remained unchanged.&#160;The terms were
      amended to require repayment at the earlier of (i)&#160;SI&#8217;s completion of an
      equity financing of at least $5,000,000 or (ii)&#160;February&#160;28,
      2006.&#160;Consistent with the secured convertible note above, SCO had the
      option to be repaid in cash or to convert the debt into the shares of a
      qualified equity financing at the lowest price paid by institutional investors.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      addition, for each $50,000 borrowed on the additional $250,000 line of credit,
      the Company agreed to issue a six-year warrant to purchase 173,307 shares of
      common stock in the amount of 1% of the Company&#8217;s fully diluted common shares
      outstanding at an exercise price of $0.01 per share.&#160;SI has drawn an
      additional $250,000 under this arrangement, for a total amount outstanding
      of
      $1,250,000 and has issued warrants to purchase a total of 866,534 shares of
      common stock to SCO. These warrants are immediately exercisable upon issuance
      and expire on November&#160;8, 2012. The fair market value of these warrants, as
      discussed further below, was estimated to be $0.59 per share at the issuance
      date and re-measured at $0.59 as of April&#160;30, 2006. The assumptions used in
      the Black-Scholes model were risk-free interest rate of 4.5% at the time of
      issuance and 4.95% at April&#160;30, 2006, volatility factors of 97.24% at the
      issuance and 76.63% at April&#160;30, 2006, calculated as the weighted average
      of the stock price volatility of ranked comparable public companies, and
      contractual terms equal to the exercise periods of the respective warrants.
      The
      fair value of the common stock as used in this calculation was $.60 per share,
      as negotiated between the Company and the Series A Convertible Preferred Stock
      investors. None of these warrants have been exercised as of April&#160;30, 2006.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">These
      warrants have registration rights for the underlying shares. The investor rights
      agreement for the warrant requires the Company pay a penalty in cash as
      liquidated damages if the underlying shares are not registered in a Registration
      Statement and such Registration Statement is not declared effective on or prior
      to the 90</font><font style="DISPLAY: inline; FONT-SIZE: 6pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif;"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">
      day following the initial closing date. The Company will be required to pay,
      in
      cash, liquidated damages for such failure, equal to 1% of the holder&#8217;s
      subscription amount.&#160;Pursuant to Emerging Issues Task Force (EITF) No.
      00-19, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><em>Accounting
      for Derivative Financial Instruments Indexed to, and Potentially Settled in,
      a
      Company&#8217;s Own Stock</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">,
      the fair value of the warrants at the issuance was recorded as a warrant
      liability, as 1) the shares are required to be registered and 2) net cash
      settlement could occur.&#160;EITF 00-19 provides that contracts that include
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><em>any</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">
      provision that could require net-cash settlement cannot be accounted for as
      equity of the Company. The warrant agreements require net cash settlement,
      at
      the option of the holders, in the event the Company fails to issue and deliver
      common stock on exercise of the warrants within three business days of receipt
      of a written exercise notice by a holder and the holder purchases shares of
      common stock to deliver in satisfaction of a sale of the shares of warrants
      stock which the holder anticipated to receive upon exercise. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with Statement of Financial Accounting Standards No.&#160;133,
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Accounting
      for Derivative Instruments and Hedging Activities</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      (&#8220;FASB
      133&#8221;), the Company determined that the conversion feature of the notes did not
      meet the criteria for bifurcation of the conversion option, as the debt met
      the
      definition of &#8220;conventional convertible debt&#8221;, as defined under EITF 00-19, and
      therefore the conversion feature of the debt did not need to be bifurcated
      and
      accounted for as a derivative. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with EITF No. 00-27, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Application
      of Issue No.&#160;98-5 to Certain Convertible Instruments, </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">which
      provides guidance on the calculation of a beneficial conversion feature on
      a
      convertible instrument, the Company has determined that the convertible note
      payable had a non-cash beneficial conversion feature of $364,721, which was
      determined once the qualified equity financing was finalized. The beneficial
      conversion feature was calculated on the note commitment date but recognized
      when the contingency of conversion was resolved and was determined based on
      the
      difference between the calculated conversion value after the allocation of
      the
      full fair value of the warrants of $514,981 to the debt as debt discount and
      the
      fair value of the Company&#8217;s common stock of $0.60 per share.&#160;The value of
      the Company&#8217;s common stock of $0.60 per share was based on the value of common
      stock obtained through negotiation for independent sales of common stock to
      unaffiliated investors.&#160;After the allocation of proceeds between the debt
      and warrants are made, conversion price of $0.425 was calculated based on the
      allocated amount to debts divided by 2,083,333, the total number of shares
      into
      which the note is convertible. The calculated amount of $0.175, the difference
      of the fair value of the common stock of $0.60 and the effective conversion
      price of $0.425, represents the beneficial value per share. This beneficial
      value was applied to the total shares into which the note is convertible, to
      calculate the beneficial conversion feature. The proceeds of $1,250,000 on
      the
      note were recorded net of the discount of $364,721 on account of the beneficial
      conversion feature and discount of $514,981 on account of the full fair value
      of
      the warrants. In conjunction with the private placement (Note 12), the debt
      and
      accrued interest was converted into 128.6318 shares of Series A Convertible
      Preferred Stock. The discounts on account of the beneficial conversion feature
      and fair value of the warrants have been recognized as additional interest
      expense on conversion. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>12.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>PRIVATE
      PLACEMENT </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January&#160;31, 2006, Somanta Pharmaceuticals, Inc.&#160;completed a private
      placement of&#160;592.6318 shares of its&#160;Series A Convertible Preferred
      Stock (&#8220;Series A Preferred&#8221;) at a price of $10,000 per share, including six-year
      warrants to purchase an additional 4,938,598 shares of its common
      stock.&#160;The Series A Preferred shares consisted of 464 shares purchased by
      investors which are convertible into 7,733,333 shares of common stock and
      128.6318 shares that gave effect to the conversion amount of $1,286,318,
      representing the value of the converted note of $1,250,000 (Note 11) and the
      associated accrued interest of $36,318.&#160;The total 592.6318 preferred shares
      are convertible into 9,877,197 common shares. Gross proceeds to Somanta were
      $4,640,000, including $3,671,209 in cash, payments to various vendors amounting
      $968,791, which included cash payment of $624,105 to SCO Securities, LLC, its
      placement agent.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Series A Preferred is initially convertible into 9,877,197 shares of the
      Company&#8217;s common stock at a conversion price of $0.60 per share. The conversion
      value is subject to adjustment. The exercise price for the warrants is $0.75
      per
      share and they are immediately exercisable upon issuance. The fair market value
      of these warrants, as discussed further below, was estimated to be $0.41 per
      share at the issuance date .&#160;The warrants expire on January&#160;31,
      2012.&#160;None of the warrants have been exercised as of April&#160;30, 2006.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Holders
      of the Series A Preferred stock are entitled to receive dividends at 8%&#160;per
      annum. Dividends will accrue and will be cumulative from the date of issuance,
      whether or not earned or declared by the Board of Directors. Dividends can
      be
      paid at the Company&#8217;s option either in cash or shares of the Company&#8217;s common
      stock on April&#160;30 and October&#160;31 of each year.&#160;The holders of the
      Series A Preferred stock have full voting rights and powers, subject to the
      Beneficial Ownership Cap, equal to the voting rights and powers of the Common
      stock holders. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Series A Preferred stockholders have a liquidation preference, in the event
      of
      any voluntary or involuntary liquidation, dissolution or winding up of the
      Corporation, senior to the holders of common stock in an amount equal to $10,000
      per share of preferred stock plus any accumulated and unpaid dividends on the
      preferred stock.&#160;In the alternative, the holders of the Series A Preferred
      may elect to receive the amount per share that would be distributed among the
      holders of the preferred stock and common stock pro rata based on the number
      of
      shares of the common stock held by each holder assuming conversion of all
      preferred stock, if such amount is greater than the amount such holder would
      receive pursuant to the liquidation preference. A change of Control of the
      Corporation will not be deemed a liquidation. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Series A Preferred Stock is not redeemable for cash.&#160;The holder of any
      share or shares of Series A Preferred can, at the holder&#8217;s option, at any time
      convert all or any lesser portion of such holder&#8217;s shares of Series A Preferred
      stock into such number of shares of common stock as is determined by dividing
      the aggregate liquidation preference of the shares of preferred stock to be
      converted plus accrued and unpaid dividends thereon by the conversion value
      then
      in effect for such Preferred Stock (&#8220;Conversion Value&#8221;). The Company can, on the
      occurrence of a conversion triggering event, elect to convert all of the
      outstanding preferred stock into common stock. A conversion triggering event
      is
      (i)&#160;a time when the registration statement covering the shares of common
      stock into which the Series A Preferred is convertible is effective and sales
      may be made pursuant thereto or all of the shares of common stock into which
      the
      Series A Preferred is convertible may be sold without restriction pursuant
      to
      Rule 144(k) promulgated by the SEC and the daily market price of the common
      stock, after adjusting for stock splits, reverse splits, stock dividends and
      the
      like is $5 or more for&#160;a period of 30 of the immediately preceding 60
      consecutive trading days and the volume of common stock traded on the applicable
      stock exchange on each such trading day is not less than 100,000 shares, or
      (ii)&#160;a time when the Company consummates a sale of common stock in a firm
      commitment underwritten public offering in which the offering price before
      deduction of expenses of the common stock is greater than 200% of the Conversion
      Value and the aggregate gross proceeds of the offering to the Company are
      greater than $25 million. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">191</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
      the
      outstanding preferred stock will be automatically converted to common stock
      upon
      an occurrence of a qualified change of control provided that upon consummation
      of a qualified change of control the holders of the shares issuable on automatic
      conversion shall be entitled to receive the same per share consideration as
      the
      qualified change of control transaction consideration. The holders of the Series
      A Preferred may require the Company to redeem the shares upon the Company&#8217;s
      failure or refusal to convert any shares of Preferred Stock in accordance with
      the terms of issue, or by providing a written notice to that effect.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Series A Preferred has been classified as equity, as the Series A Preferred
      stock is not redeemable.&#160;In accordance with EITF No. 00-27, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Application
      of Issue No.&#160;98-5 to Certain Convertible Instruments, </em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
      Company has determined that the Series A Preferred had a beneficial conversion
      feature of $1,522,317 as of the date of issuance. As such, the Company recorded
      a non-cash deemed dividend of $1,522,317 resulting from the difference between
      the conversion price determined after allocation of the full fair value of
      the
      warrants of $0.41 at the issuance date ,revalued at $0.39 as of April&#160;30,
      2006 , and the fair value of common stock of $0.60. The carrying value of the
      Series A Preferred of $5,926,318 was recorded net of the deemed dividend of
      $1,522,317 and a discount of $2,048,531 at the issuance date. The change in
      fair
      value of the warrants was recorded as other income in the consolidated statement
      of operations for the year ended April&#160;30, 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      holders of the Series A Preferred and warrants have registration rights which
      obligate the Company to file a registration statement with the Securities and
      Exchange Commission (&#8220;SEC&#8221;) covering the resale of the common stock issuable
      upon conversion of the Series A Preferred and the common stock issuable upon
      exercise of the warrants (as well as certain other securities of the Company)
      within 30 days after the closing of the private placement. In the event the
      registration statement is not filed within such thirty day period or if the
      registration statement is not effective within 120 days after the date it is
      filed, or a registration statement, once declared effective ceases to remain
      effective during the period that the securities covered by the agreement are
      not
      sold, the Company will be required to pay, in cash, liquidated damages for
      such
      failure, equal to 1% of the holders of the Series A Preferred investment amount
      for each thirty day period in which the registration statement is not filed
      or
      effective, or maintained effective, as the case may be. The Company has filed
      the registration statement with the SEC but it has not yet been declared
      effective.&#160;This penalty obligation expires on January&#160;31, 2007.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with EITF Issue 05-4, </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>The
      Effect of a Liquidated Damages Clause on a Freestanding Financial Instrument
      Subject to Issue No. 00-19</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
      the
      Company believes that the effect of the liquidated damages should be treated
      under the first view (View A), which states that a registration rights agreement
      should be treated as a combined unit together with the underlying financial
      instruments, warrants and derivative debenture and evaluated as a single
      instrument under EITF Issue 00-19 and FAS 133. The Company concluded that this
      view is the most appropriate for the transaction.&#160;The Registration Rights
      Agreement and the financial instruments to which it pertains (the warrants
      and
      the preferred stock) were considered a combined instrument and accounted for
      accordingly. In accordance with SFAS 5, the Company did not accrue any
      liquidated damages as of April&#160;30, 2006, since the incurrence of damages
      was neither probable nor estimable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company also issued six year warrants to its placement agent to purchase 987,720
      common shares at $0.60 per share to SCO Securities LLC, as part of the success
      fees of 10% of the aggregate value of the transaction at sales price of common
      stock. These warrants are immediately exercisable upon issuance. The fair value
      of these warrants at the date of issuance was estimated to be $0.44 per share
      and revalued at $0.41 as of April&#160;30, 2006 and has been recorded as
      issuance costs and offset against the proceeds of the Series A Preferred.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      fair
      value of warrants issued in connection with the issue of convertible debt and
      convertible preferred stock, including the agent warrants, was estimated at
      the
      date of grant and revalued at April&#160;30, 2006 using a Black Scholes option
      pricing model with the following assumptions: a risk free interest rate of
      approximately 4.50% at the issuance date and 4.95% at April&#160;30, 2006, no
      dividend yield, volatility factors of 81.89% and 97.24% at the issuance date
      and
      76.48% to 76.63% at April&#160;30, 2006, contractual terms of 6 and 7 years and
      expected terms based upon the formula prescribed in SEC Staff Accounting
      Bulletin 107 of 3 years and 3.5 years.&#160;These assumptions use the interest
      rate prevailing at the time of issuance, volatility factors calculated as the
      weighted average of the stock price volatility of ranked comparable public
      companies, and contractual terms equal to the exercise periods of the respective
      warrants. The fair value of the common stock as used in this calculation was
      $.60 per share, as negotiated between the Company and unaffiliated third party
      Series A investors. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">192</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      fair
      value of the above warrants has been classified as a liability pursuant to
      EITF
      00-19 as described in Note 5. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      fair
      value of the warrants was reassessed at the end of the fiscal year 2006 with
      changes in fair value recorded in earnings and disclosed in the financial
      statements. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      holders of the Series A Preferred Stock are entitled to receive, when, if and
      as
      declared by the Board, dividends at 8%&#160;per annum cumulative from the date
      of issuance of the shares of Preferred Stock. The board did not declare the
      dividends as of April&#160;30 2006. Therefore, a dividend of $115,604 on the
      Preferred Stock has not been recorded in the consolidated financial statements,
      but in accordance with SFAS No.&#160;129, the dividend amount has been included
      in the calculation of net loss per share. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>13.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>COMMITMENTS&#8212;EMPLOYMENT
      AND CONSULTING AGREEMENTS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company entered into a service agreement with its Executive Chairman on
      January&#160;10, 2005. The Company agreed to pay a monthly cash retainer of
      $10,000 for any director&#8217;s or other fees receivable by the executive chairman.
      The agreement was terminated with the closing of the share exchange with Bridge
      Oncology (see Note 10) and was replaced by an Executive Employment agreement
      in
      January 2006. In January 2006, the Company entered into employment agreements
      with the Company&#8217;s President and Chief Executive Officer (&#8220;CEO&#8221;), and with the
      Company&#8217;s Executive Chairman, for one year terms. Under these agreements, the
      President and Executive Chairman are to be paid annual base salaries of $275,000
      and $248,000, respectively. Both officers are eligible to receive annual bonuses
      and additional stock option grants at the discretion of the Company&#8217;s board of
      directors. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      January 2006, the Company entered into an employment agreement with the
      Company&#8217;s Chief Financial Officer (&#8220;CFO&#8221;).&#160;Under the agreement, the CFO is
      to be paid an annual base salary of $215,000 and also entitled to receive an
      annual bonus and additional stock option grants at the discretion of the
      Company&#8217;s board of directors. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      November 2005, the Company entered into two monthly consulting agreements:
      (i)&#160;a Service Provision Agreement with Pharma Consultancy Limited (PCL), a
      UK company controlled by one of the Company&#8217;s stockholders pursuant to which the
      Company will pay PCL approximately $278,000 per year, for services rendered
      by
      to the Company as an independent consultant in connection with the management
      of
      the Company&#8217;s clinical activities, that will terminate on December&#160;31, 2006
      unless extended by a mutual written agreement of the parties and may be
      terminated, with or without cause, by giving the other party thirty
      (30)&#160;days&#8217; prior written notice; and (ii)&#160;a Service Provision
      Agreement with an independent consultant pursuant to which the Company will
      pay
      approximately $156,000 per year for services rendered by the consultant to
      the
      Company as an independent consultant in connection with the pre-clinical
      activities related to the manufacturing of the Company&#8217;s product candidates,
      that will terminate on December&#160;31, 2006 unless extended by a mutual
      written agreement of the parties and that may be terminated, with or without
      cause, by giving the other party thirty (30)&#160;days&#8217; prior written notice.
      This agreement was amended in April 2006 to include GTE Consultancy Limited
      (GTE), a company organized under the laws of United Kingdom and owned by the
      consultant, as the service provider pursuant to the agreement. With the approval
      of the Company&#8217;s board of directors, both PCL and GTE may also be granted cash
      bonuses and stock options in the future. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">One
      of
      the Company&#8217;s former directors and current President and CEO of Advanced
      Cardiovascular Devices LLC (Notes 6 and 10) resigned in August 2005, in
      connection with the closing of the share exchange agreement with Bridge
      Oncology. Concurrently he entered into a consulting arrangement with the Company
      under which he was paid $5,000 per month. On February&#160;27, 2006, the Company
      terminated this consulting arrangement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company&#8217;s former CFO resigned in August 2005, in connection with the closing of
      the share exchange agreement with Bridge Oncology. In January 2006, he entered
      into a monthly consulting arrangement with the Company under which he is paid
      $5,000 per month retroactive to June 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
      to a financial advisory agreement dated March 2005 between Bridge Oncology
      and
      SCO Financial Group LLC (SCO), which the Company has assumed, the Company
      compensates SCO with a monthly fee of $12,500 and an annual grant of warrants
      to
      purchase 150,000 shares of Company common stock at an exercise price of $0.01
      for the term of the agreement for financial advisory services (Note 6). The
      agreement extends 24 months beyond the last financial transaction for which
      the
      Company compensates SCO pursuant to the agreement. </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>14.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SIGNIFICANT
      CONTRACTS AND LICENSES </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>IN-LICENSING
      AGREEMENTS </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Cypomics,
      Ltd. </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      November&#160;1, 2001, the Company and Cypomics entered into a shareholder and
      intellectual property rights agreement for the Company to fund a research and
      development program conducted by Cypomics. On July&#160;20, 2005, this agreement
      was terminated. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>De
      Montfort University </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      November 2001, the Company entered into a Patent and Know-how Assignment and
      License Agreement with De Montfort University of Leicester, England, pursuant
      to
      which De Montfort University agreed to assign to the Company the key patent
      related to chloroethylaminoanthraquinone, a cytotoxic small molecule and to
      exclusively license to the Company certain know-how related to this molecule
      for
      use in field of the treatment of cancer. In March 2003, the Company amended
      and
      restated that agreement to extend the time period in which the assignment and
      license would be triggered. In October 2005, De Montfort University formally
      assigned the patent that covers the molecule to the Company. Pursuant to the
      agreement with De Montfort University, the Company paid De Montfort an initial
      assignment fee of $42,815 in March 2004 and issued 219,010 shares of common
      stock to De Montfort valued at $4,677 in December 2001. The Company is not
      obligated to make any royalty payments to De Montfort based on the sale of
      any
      product that is based on this small molecule, but it is obligated to pay De
      Montfort certain milestone payments based on the achievement of agreed upon
      clinical milestones. If the Company successfully achieves each of these
      milestones, it would be obligated to pay De Montfort a total aggregate amount
      of
      milestone payments of GBP 250,000, or approximately $445,832. The Company is
      obligated to use its commercial best efforts to achieve these agreed upon
      clinical milestones. The Company has the right to terminate its agreement with
      De Montfort on 90 days advance notice, and either party has the right to
      terminate the agreement for breach by the other party upon 90 days advance
      notice (60 days for payment failures), if such breach is not cured within the
      notice period. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Immunodex,
      Inc. </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      January&#160;25, 2002, the Company entered into a Patent Know-How and License
      Option Agreement with Immunorex, Inc. (later renamed Immunodex, Inc.) giving
      it
      a worldwide, exclusive sublicense, with the right to further sublicense, to
      all
      human radioimmunotherapy applications of certain patents on BrE3 and Mc3
      monoclonal antibodies for use in breast cancer and other types of cancer.
      Pursuant to this agreement, the Company paid Immunodex an initial license fee
      of
      $10,000 and sold 292,012 shares of common stock to Immunodex for $5,638.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      August
      2005, the Company entered into a Patent and Know-how Exclusive Sublicense
      Agreement with Immunodex, Inc. which had essentially the same terms and
      conditions as the 2002 agreement and which superseded that agreement. It also
      superseded prior agreements dated March&#160;1, 2002 and September&#160;17, 2002
      related to the same subject matter. Pursuant to this August 2005 agreement,
      the
      Company paid Immunodex an initial license fee of $300,000. In addition, the
      Company is obligated to pay Immunodex $150,000 upon the delivery by Immunodex
      of
      each cell line that is necessary to manufacture each of the BrE3 and Mc3
      monoclonal antibodies. The Company is further obligated to pay Immunodex annual
      license maintenance fees and all costs and expenses associated with the
      prosecution and maintenance of each of the patents licensed to the Company
      under
      the agreement. The Company&#8217;s obligation to pay this fee is reduced at such time
      as it begins to sell a product based on either of the antibodies, and terminates
      in its entirety at such time as the Company is selling products based on both
      antibodies. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Assuming
      the Company begins to sell products based on both antibodies 15 years after
      the
      date of the August 2005 agreement, or August 2020, which is the anticipated
      development timetable, the Company would have to pay to Immunodex an additional
      $4,050,000 in maintenance fees and cell line transfer fees during that time
      period. In addition, the Company is obligated to pay Immunodex a royalty based
      on the net sales, if any, of products based on the antibodies. Further, the
      Company is obligated to develop both antibodies on an agreed-upon timetable.
      If
      the Company fails to achieve any of the agreed-upon clinical development and
      regulatory milestones, Immunodex would then have the right to terminate the
      August 2005 agreement with respect to the product candidate for which the
      failure occurred, and if such a termination occurs, the Company would be
      obligated to pay Immunodex a termination fee of up to $500,000 for each product
      candidate so terminated. The Company are also entitled to terminate the
      agreement with respect to either antibody, or both, upon 90 days advance notice
      to Immunodex. Notwithstanding the foregoing, the Company does not have to pay
      a
      termination fee with respect to either antibody if the agreement is terminated
      due to: (i)&#160;negative results of toxicity testing for the applicable drug
      candidate that the FDA indicates would preclude further testing of such drug
      candidate, (ii)&#160;a third party being granted orphan drug status by the FDA
      for a drug that would preclude the Company from receiving orphan drug status
      with respect to the applicable drug candidate, or (iii)&#160;the Company&#8217;s
      inability to achieve commercially viable yields with respect to the manufacture
      of the applicable drug candidate. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      the
      Company sublicenses its rights with respect to either antibody, the Company
      would be obligated to pay to Immunodex a sublicensing fee not to exceed
      $1,000,000 for each such sublicense granted based on payments received from
      each
      such sub-licensee. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      term
      of the August 2005 agreement expires on the later to occur of: (i)&#160;the
      expiration of the last to expire licensed patent, or (ii)&#160;fifteen
      (15)&#160;years after the first commercial sale of a product covered by the
      licensed patents. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      August
      2005, the Company made a deposit of $150,000 into an escrow account pursuant
      to
      this agreement. In December 2005, this $150,000 was released from escrow and
      paid to Immunodex and recorded as R&amp;D expense, based on the successful
      completion of the huBrE-3 mAb testing. In February, 2006, the Company made
      a
      deposit of $150,000 into an escrow account pursuant to this agreement and
      presented as restricted funds in the consolidated balance sheet. The release
      of
      these funds is contingent upon successful completion of the huMc3 mAb testing.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>The
      School of Pharmacy, University of London (SOP) </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      March
      2004, the Company entered into a Patent and Know-how Assignment and License
      Option Agreement with The School of Pharmacy, University of London. The
      Agreement granted to the Company an option to acquire the rights to the key
      patent application related to di-N-oxides of chloroethylaminoanthraquinone
      as a
      bioreductive prodrug and an exclusive worldwide license to the related know-how
      for development and commercialization in the field of the treatment of cancer.
      Pursuant to this agreement, the Company paid an initial option fee of $44,575
      and issued 131,505 shares of common stock valued at $2,630 to The School of
      Pharmacy. In September 2005, The School of Pharmacy formally assigned to the
      Company the rights to the key patent application and the relevant know-how
      in
      the field of the treatment of cancer. The Agreement obligate the Company to
      pay
      The School of Pharmacy certain milestone payments based on the achievement
      of
      agreed upon clinical milestones with respect to the prodrug. If the Company
      successfully achieve each of these milestones, it would be obligated to pay
      The
      School of Pharmacy a total aggregate amount of milestone payments of
      GBP&#160;275,000, or approximately $490,415. The Company is obligated to use its
      commercial best efforts to achieve these agreed upon clinical milestones. If
      the
      Company fails to achieve any of these agreed upon clinical milestones, The
      School of Pharmacy would have the right to terminate the know-how license under
      the agreement. In addition, the Company is obligated to pay The School of
      Pharmacy a royalty on net sales, if any, of products based on the prodrug.
      The
      Company has the right to terminate the agreement with the The School of Pharmacy
      on 90 days advance notice, and either party has the right to terminate the
      agreement for breach by the other party upon 90 days advance notice (60 days
      for
      payment failures), if such breach is not cured within the notice period. In
      February, 2006, SOP waived the condition in the agreement that the Company
      assign the patent back to SOP if the Company was unable to complete a
      substantial funding by December&#160;31, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Virium
      Pharmaceuticals, Inc. (Virium) </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      February 2005, Bridge Oncology Products, Inc. (BOPI), entered into a
      Phenylbutyrate Co-development and Sublicense Agreement with Virium
      Pharmaceuticals, Inc. covering the worldwide rights, excluding the United States
      and Canada, for the treatment of cancer, autoimmune diseases and other clinical
      indications. BOPI paid an upfront license fee of $50,000. As a result of the
      exchange agreement with BOPI, the Company has succeeded to the rights and
      obligations under this Agreement. The Company&#8217;s single largest stockholder, SCO
      Capital Partners, LLC, is also the single largest stockholder of Virium
      Pharmaceuticals, Inc., and the companies share a common director (Note 6).
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Virium
      is
      also a party to a sublicense agreement with VectraMed, Inc. for the rights
      to
      develop and commercialize PB worldwide for the treatment of cancer, autoimmune
      diseases and other clinical indications. In turn, VectraMed has obtained its
      rights to the product under an Exclusive Patent License Agreement dated
      May&#160;25, 1995 with the U.S. Public Health Service (&#8220;PHS&#8221;) representing the
      National Institutes of Health. VectraMed subsequently assigned all its rights
      to
      PB to Virium pursuant to a novation agreement dated May&#160;10, 2005. Virium is
      in the process of obtaining PHS approval for this agreement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company is responsible for the conduct of clinical trials and patent prosecution
      outside the United States and Canada and payment of royalties to Virium on
      net
      product sales until such time as the patents covering such products
      expire.&#160;These patents expire at various times between 2011 and 2016.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Company&#8217;s agreement with Virium does not fully comply with the sublicensing
      requirements set forth in Virium&#8217;s agreement with the National Institutes of
      Health because it does not expressly incorporate by reference all of the
      relevant sections of Virium&#8217;s license with NIH.&#160;The Company is currently
      seeking to amend its agreement with Virium to bring it into full compliance
      with
      such sublicensing requirements and to permit the Company to become a direct
      licensee of the NIH, should Virium default on its license with the NIH.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      </div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>COLLABORATIONS
      </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Cancer
      Research Institute of Contra Costa (CRICC) </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      August
      2005, the Company entered into an Agreement Regarding Academic Clinical Study
      with the Cancer Research Institute of Contra Costa to provide financial support
      for an on-going Phase I-II clinical trial of patients with recurrent, metastatic
      breast cancer using the humanized monoclonal antibody BrE-3, labeled with
      Yttrium-90. In this trial, the antibody is being administered to patients in
      combination with the chemotherapeutic drug, Xeloda</font><font style="DISPLAY: inline; FONT-SIZE: 6pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif;"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">.
      This
      agreement superseded a similar agreement signed in October 2003, which related
      to the same subject matter. Pursuant to this agreement, the Company is obligated
      to reimburse the Cancer Research Institute of Contra Costa over the twenty-four
      moths after the date of the agreement for the costs associated with the
      treatment of at least 10 patients with recurrent, metastatic breast cancer
      that
      are enrolled in the current Phase I/II clinical trial of Phoenix, which is
      being
      conducted at New York University/Bellevue Hospital. The Company does not expect
      these reimbursement payments to exceed $300,000 in the aggregate. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>The
      School of Pharmacy, University of London (SOP) </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      March&#160;10, 2004, the Company and SOP entered into an agreement for the
      Company to fund a research and development project staffed by SOP scientists
      to
      develop di-N-oxides of chloroethylaminoanthraquinone as a bioreductive prodrug,
      and to evaluate them as candidates for clinical trials. The initiation of this
      project was a condition of the perfection of a license option granted to the
      Company by SOP (see </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>In-Licensing
      Agreements</em></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">)
      on
      March&#160;16, 2004. On September&#160;21, 2005, the Company and SOP mutually
      terminated this agreement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>University
      of Bradford (UoB) </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      March&#160;1, 2006, the Company entered into an agreement with University of
      Bradford, England for the Company to fund a two-year research and development
      project staffed by UoB scientists to evaluate di-N-oxides of
      chloroethylaminoanthraquinone as a bioreductive prodrug and to evaluate and
      provide data on chloroethylaminoanthraquinone to support the requirements to
      initiate clinical trials. The Company accrued $55,000 for project costs based
      on
      this agreement as of April&#160;30, 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>OUT-LICENSING
      AGREEMENT </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Advanced
      Cardiovascular Devices LLC (ACD) </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
      August&#160;31, 2004, the Company entered into a research collaboration and
      license agreement with ACD. Under the agreement Somanta granted to ACD an
      exclusive license to use Somanta&#8217;s intellectual property, including the licensed
      patent and know-how related to chloroethlylaminoanthraquinone (see De Montfort
      University), a cytotoxic small molecule, in the field of vascular disorders
      using stents and devices in that field. The term of this agreement expires
      when
      the underlying patent expires in 2015. ACD agreed to pay Somanta a licensing
      fee
      at such time as ACD had received funding, plus milestones, and royalties on
      future product sales. In August, 2005, ACD paid the Company a non-refundable
      licensing fee of $10,000. In addition, ACD is obligated to develop a product
      based on the small molecule pursuant to an agreed-upon timetable. If ACD fails
      to achieve any of the agreed upon milestones, the Company would have the right
      to terminate the agreement; provided, however, that ACD could prevent the
      Company from so terminating the agreement with respect to the applicable failure
      by paying the Company a fee not to exceed $500,000 to reinstate its rights
      under
      the agreement. In addition, ACD is also obligated to pay the Company a royalty
      based on net sales, if any, of products based on the small molecule. Either
      party may terminate this agreement on 30 days advance notice for breach by
      the
      other party if the breach is not cured within such 30 day period. In addition,
      ACD may terminate the agreement upon written notice to the Company and without
      any further obligation if the licensed technology does not perform to the
      reasonable satisfaction of ACD or cannot be commercialized because of safety
      or
      efficacy reasons or because ACD is unable to raise the funds necessary to
      develop a product based on the licensed technology. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>15.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SUBSEQUENT
      EVENTS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>LEASES
      </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      lease
      on the Company&#8217;s London office space was renewed on May&#160;16, 2006, to expire
      on May&#160;16, 2007. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>CHANGES
      IN EMPLOYMENT AND CONSULTING AGREEMENTS </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      of
      June&#160;30, 2006, the Company terminated its employment agreement with its
      current Chief Financial Officer. As of that date, the Company vested 25% of
      this
      employee&#8217;s options to purchase the Company&#8217;s common stock and will permit the
      employee to exercise his option to purchase common stock at any time within
      the
      subsequent twelve months. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effective
      June&#160;1, 2006, the Company changed the consulting arrangement made in
      January 2006 with the Company&#8217;s former CFO, under which he was paid $5,000 per
      month, to $100 per hour worked and granted options to acquire 25,000 shares
      of
      the Company&#8217;s common stock at $0.60 per share. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">196</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>INDEX
        TO</strong><strong> SOMANTA </strong><strong>UNAUDITED QUARTERLY FINANCIAL
        STATEMENTS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SOMANTA
        PHARMACEUTICALS, INC. AND SUBSIDIARIES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Table
        of
        Contents</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">January
        31, 2007</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">FINANCIAL
                  INFORMATION</div>
              </td>
              <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">Page</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="59%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Consolidated
                  Balance Sheets at January 31, 2007 and April 30,
                  2006</div>
              </td>
              <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">198</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Consolidated
                  Statements of Operations for the three and nine
                  months ended January 31, 2007, January 31, 2006, and for the Period
                  from
                  Inception of Operations (April 19, 2001) to January 31, 2007 </div>
              </td>
              <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;199</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">&#160;</td>
              <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Condensed
                  Consolidated Statement of Stockholders&#8217; Deficit for
                  the Period from Inception of Operations (April 19, 2001) to January
                  31,
                  2007</div>
              </td>
              <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">200</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Consolidated
                  Statements of Cash Flows for the nine months ended
                  January 31, 2007, January 31, 2006, and for the Period from Inception
                  of
                  Operations (April 19, 2001) to January 31, 2007</div>
              </td>
              <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;204</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="59%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Notes
                  to Consolidated Unaudited Quarterly Financial Statements
                  </div>
              </td>
              <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">206&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">197</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        condensed consolidated unaudited </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">financial
        statements of Somanta for the three months </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">and
        nine
        months ended January 31, 2007, follow:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      Pharmaceuticals, Inc. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Formerly
      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(A
      Development Stage Company) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Condensed
      Consolidated Balance Sheets </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="center">
        <table border="0" cellpadding="0" cellspacing="0" width="101%" style="WIDTH: 101.94%; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 0in 0in 0in">

            <tr>
              <td width="492" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 369.05pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td width="102" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 76.2pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0pt 0pt 9pt; TEXT-INDENT: -9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>&#160;&#160;&#160;&#160;&#160;
                  &#160;(Unaudited)</strong></font></div>
                <div style="MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>&#160;
                  January 31, 2007</strong></font></div>
              </td>
              <td width="91" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 68.55pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>(Audited)</strong></font></div>
                <div style="MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>April,
                  30</strong></font></div>
                <div style="MARGIN: 0in 0pt 0pt; TEXT-INDENT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font size="2"><strong>Assets</strong></font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font size="2"><strong>Current
                  assets:</strong></font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Cash.............................................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  129,104</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  1,587,751</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">VAT
                  receivable..........................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  &#8212;&#160;&#160;</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  1,628</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Other
                  receivable.........................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">537</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  &#8212;&#160;&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Prepaid
                  expenses.......................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">13,157</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  91,075</font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 60pt; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Total
                  current
                  assets........................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">142,798</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  1,680,454</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2"><strong>Office
                  equipment</strong>, net of accumulated depreciation
                  of $5,405 and $1,532 for the period ended January 31, 2007 and
                  April&#160;30, 2006,
                  respectively......................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">17,906</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  23,400</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font size="2"><strong>Other
                  assets:</strong></font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Restricted
                  funds.........................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">5,027</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  152,048</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Deposits......................................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  &#8212;&#160;&#160;</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  2,700</font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 60pt; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Total
                  other
                  assets...........................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">5,027</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  154,748</font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                </div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 1.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2"><strong>Total
                  assets</strong>................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  165,731</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  1,858,602</font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font size="2"><strong>Liabilities
                  and Stockholders&#8217;
                  Deficit</strong></font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font size="2"><strong>Current
                  liabilities:</strong></font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Accounts
                  payable.....................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 67.0pt decimal 69.0pt"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  668,819</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  265,800</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Due
                  to related
                  parties................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">181,552</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  &#8212;&#160;&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Accrued
                  expenses.....................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">563,489</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  157,584</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Accrued
                  research and development
                  expenses......................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">532,821</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  155,694</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Liquidated
                  damages related to Series A preferred stock and
                  warrants............................. </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">35,200</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  &#8212;&#160;&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Deferred
                  revenue.......................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">7,500</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  8,572</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Warrant
                  liabilities.......................................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">5,236,750</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  2,855,726</font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 60pt; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Total
                  current
                  liabilities....................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">7,226,131</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  3,443,376</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font size="2"><strong>Stockholders&#8217;
deficit:</strong></font></div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt"><font size="2">Preferred
                  stock - $0.001 par value, 20,000,000 shares authorized<br>Series A
                  Convertible Preferred Stock, $.001 par value, 2,000 shares designated,
                  592.6318 issued and outstanding as of January 31, 2007 and April&#160;30,
                  2006</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">1</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  1</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Common
                  stock, $.001 par value, 100,000,000 shares authorized,
                  14,274,534 shares issued and outstanding as of January 31, 2007
                  and
                  April&#160;30, 2006.............................. </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">14,275</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  14,275</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Additional
                  paid-in
                  capital.........................................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">6,879,504</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  6,701,458</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Deficit
                  accumulated during development
                  stage....................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">(13,954,180)</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  (8,300,508)</font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                </div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 60pt; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2">Total
                  stockholders&#8217;
                  deficit.............................................................................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 67.0pt decimal 69.0pt" align="right"><font size="2">(7,060,400)</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  (1,584,774)</font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
            </tr>
            <tr>
              <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-LEFT: 1.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 413.0pt"><font size="2"><strong>Total
                  liabilities and stockholders&#8217;
                  deficit</strong>.............................................
                  </font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 67.0pt decimal 69.0pt"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  165,731</font></div>
              </td>
              <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN-BOTTOM: 0.75pt; tab-stops: right 58.0pt decimal 60.0pt"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  1,858,602</font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
              <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                  <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">198</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      Pharmaceuticals, Inc. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Formerly
      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(A
      Development Stage Company) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Condensed
      Consolidated Statements of Operations </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Three
      Months and Nine Months Ended January 31, 2007 and 2006 and for the Period
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>from
      Inception of Operations </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(April
      19, 2001) to January 31, 2007 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Unaudited)&#160;
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div align="center">
        <div align="center">
          <div align="center">
            <div align="center">
              <div align="center">
                <table border="0" cellpadding="0" cellspacing="0" width="109%" style="WIDTH: 109.62%; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 0in 0in 0in">

                    <tr>
                      <td width="259" style="BORDER-BOTTOM: #ffffff solid">
                        <div>&#160;</div>
                      </td>
                      <td colspan="2" width="184" style="BORDER-BOTTOM: black 2px solid">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">&#160;<strong>Three
                          Months&#160;Ended</strong></font></div>
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>January
                          31,</strong></font></div>
                      </td>
                      <td colspan="2" width="184" style="BORDER-BOTTOM: black 2px solid">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>Nine
                          Month s Ended </strong></font></div>
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>October
                          31, </strong></font></div>
                      </td>
                      <td width="108" style="BORDER-BOTTOM: #ffffff 2px solid">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>From
                          Inception of Operations </strong></font></div>
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>(April
                          19, 2001) to</strong></font></div>
                      </td>
                    </tr>
                    <tr>
                      <td width="259" style="BORDER-BOTTOM: #ffffff solid">
                        <div style="MARGIN: 0in 0in 0pt">&#160;</div>
                      </td>
                      <td width="92" style="BORDER-BOTTOM: black 2px solid">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>&#160;2007</strong></font></div>
                      </td>
                      <td width="92" style="BORDER-BOTTOM: black 2px solid">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>&#160;2006</strong></font></div>
                      </td>
                      <td width="92" style="BORDER-BOTTOM: black 2px solid">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><strong>&#160;<font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">2007</font></strong></div>
                      </td>
                      <td width="92" style="BORDER-BOTTOM: black 2px solid">
                        <div style="MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 27pt"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font></div>
                      </td>
                      <td width="108" style="BORDER-BOTTOM: black 2px solid">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><strong>&#160;<font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">January
                          31, 2007</font></strong></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Revenue...................................................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#160;&#160; 357</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          357</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          1,072</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          1,071</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          2,500</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font size="2">Operating
                          expenses:</font></div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">General
                          and administrative.........................
</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(450,120)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(652,387)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(2,150,479)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,706,345)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(6,174,937)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Research
                          and development........................ </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(214,127)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(327,634)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,115,479)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(915,627)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(2,976,980)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Loss
                          from operations.............................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(663,890)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(979,664)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(3,264,886)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(2,620,901)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(9,149,417)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt"><font size="2">Other
                          income (expense):</font></div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Interest
                          income.............................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">2,305</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">30,859</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">43,207</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Interest
                          expense...........................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,001,354)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,016,021)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(1,016,020)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Liquidated
                          damages.....................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(35,200)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(35,200)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Change
                          in fair value of warrant liabilities. </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(2,775,348)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(2,381,024)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(2,243,481)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Gain
                          on settlement of debt..........................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">5,049</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">5,049</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 0.5in; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Currency
                          translation loss............................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,169)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(98)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(3,171)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(29,196)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(33,412)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Loss
                          before income taxes......................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(3,438,102)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,981,116)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(5,653,422)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(3,661,069)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(12,429,274)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Income
                          taxes............................................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(250)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(250)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(2,589)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Net
                          loss....................................................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(3,438,102)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,981,116)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(5,653,672)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(3,661,319)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(12,431,863)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Deemed
                          dividends on convertible preferred
                          stock....................................................................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,522,317)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          &#8212;&#160;&#160;</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">(1,522,317)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">(1,522,317)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Net
                          loss applicable to common shareholders..... </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;
                          (3,438,102)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;
                          (3,503,433)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;
                          (5,653,672)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;
                          (5,183,636)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          (13,954,180)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Net
                          loss per share-basic and diluted...................
                          </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          (0.25)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          (0.25)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          (0.42)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          (0.36)</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                          (1.09)</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt; TEXT-ALIGN: right" align="right">&#160;</div>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="top" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; tab-stops: right dotted 227.0pt"><font size="2">Weighted
                          average number of shares outstanding&#8212;basic and
                          diluted..................... </font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">14,274,534</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">14,274,534</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">14,274,534</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 60.0pt decimal 62.0pt" align="right"><font size="2">14,274,252</font></div>
                      </td>
                      <td nowrap valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN-BOTTOM: 0.75pt; TEXT-ALIGN: right; tab-stops: right 1.0in decimal 74.0pt" align="right"><font size="2">13,202,903</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="MARGIN: 0in 0in 0pt">&#160;</div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                        </div>
                      </td>
                      <td valign="bottom" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0.1in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
                        <div style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 2.25pt double; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 1pt; BORDER-BOTTOM: medium none">
                          <div style="MARGIN: 1pt 0in 0pt">&#160;</div>
                        </div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">199</font></div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      Pharmaceuticals, Inc. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Formerly
      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(A
      Development Stage Company) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Condensed
      Consolidated Statement of Stockholders&#8217; Deficit </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>For
      the Period from Inception of Operations (April 19, 2001) to January 31, 2007
      (Unaudited) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
      <div><br>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td align="left" valign="middle" width="31%">&#160;</td>
                <td align="left" valign="middle" width="9%">&#160;</td>
                <td align="left" valign="middle" width="9%">&#160;</td>
                <td align="left" valign="middle" width="11%">&#160;</td>
                <td align="left" valign="middle" width="9%">&#160;</td>
                <td align="left" valign="middle" width="11%">&#160;</td>
                <td align="left" valign="middle" width="9%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td colspan="2" valign="bottom" width="18%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Preferred
                    Stock</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                </td>
                <td colspan="2" valign="bottom" width="19%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Common
                    Stock</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                </td>
                <td rowspan="2" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Additional</strong></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Paid-
                    in</strong></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Capital</strong></font></div>
                </td>
                <td rowspan="2" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Shares&#160;to</strong></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>be
                    Issued</strong></font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                </td>
                <td valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                </td>
                <td valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                </td>
                <td valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Amount</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                    at April&#160;19, 2001 (Inception)</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for cash at $.0326</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4,299,860</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4,300</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">135,680</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for services at $.0139</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">514,674</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">515</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">11,801</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                    of deferred expense</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Comprehensive
                    loss&#8212;foreign currency translation adjustment</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                    loss for the period from inception to April&#160;30, 2002</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">&#160;</td>
                <td align="left" valign="bottom" width="9%">&#160;</td>
                <td align="left" valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                    at April&#160;30, 2002</font></div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4,814,534</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4,815</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">147,481</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for cash at $1.0677</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">14,601</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">15</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">15,575</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for services at $.0214</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">219,010</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">219</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4,472</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                    of deferred expense</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Receipt
                    of cash for subscription receivable</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Comprehensive
                    loss&#8212;foreign currency translation adjustment</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                    loss for the year ended April&#160;30, 2003</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">&#160;</td>
                <td align="left" valign="bottom" width="9%">&#160;</td>
                <td align="left" valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                    at April&#160;30, 2003</font></div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
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                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,048,145</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,049</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">167,528</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for cash at $1.2479</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">350,164</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">350</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">436,637</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for services at $1.2587</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">22,233</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">22</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">27,962</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                    of deferred expense</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Exchange
                    for loan payment and compensation</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">181,371</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Comprehensive
                    loss&#8212;foreign currency translation adjustment</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                    loss for the year ended April&#160;30, 2004</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">&#160;</td>
                <td align="left" valign="bottom" width="9%">&#160;</td>
                <td align="left" valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
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              <tr>
                <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                    at April&#160;30, 2004</font></div>
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                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
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                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,420,541</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,421</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">813,498</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
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          </table>
        </div>
        <div>&#160;</div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">200</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
        <div>&#160;</div>
        <div>&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for cash at $1.3218</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">374,073</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">374</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">494,069</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for services at $1.2308</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">21,901</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">22</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">26,933</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3,650
                    shares to be issued for service at $1.4973</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,465</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                    of deferred expense</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Receipt
                    of cash for subscription receivable</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Options
                    issued for services</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">257,515</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Comprehensive
                    loss&#8212;foreign currency translation adjustment</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                    loss for the year ended April&#160;30, 2005</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">&#160;</td>
                <td align="left" valign="bottom" width="9%">&#160;</td>
                <td align="left" valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                    at April&#160;30, 2005</font></div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,816,515</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,817</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1,592,015</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,465</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Write
                    off foreign currency translation adjustment</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for cash at $1.5656</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">12,669</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">13</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">19,821</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                    issued for prior service</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3650</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,462</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5,465</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                    of deferred expense</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Options
                    issued for services</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">300,616</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Recapitalization
                    with Bridge Oncology</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">7,865,000</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">7,865</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(92,335</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Beneficial
                    conversion feature associated with convertible debt
                    financing</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">364,721</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Convertible
                    Series A Preferred shares issued for cash at $10,000 (net of
                    issuance
                    costs of $544,169)</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">464</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">0.464</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4,095,830</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Convertible
                    Series A Shares issued on conversion of notes payable</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">128.6318</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">0.1286</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1,286,318</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Deemed
                    dividend on account of beneficial conversion feature associated
                    with
                    issuance of Convertible Series A Preferred Shares</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1,522,317</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Issuance
                    costs on warrants issued to placement agent in connection with
                    the
                    Convertible Series A Preferred stock</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(429,757</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Discount
                    on warrant issued with Convertible Series A Preferred
                    stock</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(2,048,531</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Recapitalization
                    with Hibshman Optical Corp.</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">576,700</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">577</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(7,708</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Warrant
                    expense</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">92,689</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                    loss for the year ended April&#160;30, 2006</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                    at April&#160;30 , 2006</font></div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">592.6318</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">.5926</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">14,274,534</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">14,275</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">6,701,458</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Options
                    issued for services</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">178,046</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                    loss for the nine months ended January 31, 2007</font></div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: #ffffff 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                    at January 31, 2007 (unaudited)</font></div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">592.6318</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">.5926</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">14,274,534</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">14,275</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">6,879,504</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="31%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
                <td valign="bottom" width="11%">&#160;</td>
                <td valign="bottom" width="9%">&#160;</td>
              </tr>

          </table>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">201</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      Pharmaceuticals, Inc. </strong></font></div>
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      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(A
      Development Stage Company) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Condensed
      Consolidated Statement of Stockholders&#8217; Deficit </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>For
      the Period from Inception of Operations (April 19, 2001) to January 31, 2007
      (Unaudited) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="middle" width="27%">&#160;</td>
              <td align="left" valign="middle" width="11%">&#160;</td>
              <td align="left" valign="middle" width="13%">&#160;</td>
              <td align="left" valign="middle" width="12%">&#160;</td>
              <td align="left" valign="middle" width="12%">&#160;</td>
              <td align="left" valign="middle" width="12%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="27%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Subscription</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Receivable</strong></font></div>
              </td>
              <td valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Deferred&#160;Equity-</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Based
                  Expense</strong></font></div>
              </td>
              <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Accumulated</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Other</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Comprehensive</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Loss-
                  Foreign</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Currency</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Translation</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Adjustment</strong></font></div>
              </td>
              <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Deficit</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Accumulated</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>During</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Development</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Stage</strong></font></div>
              </td>
              <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Total</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Stockholders&#8217;</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Equity/(Deficit)</strong></font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: #ffffff 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                  at April&#160;19, 2001 (Inception)</font></div>
              </td>
              <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for cash at $.0326</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(97,245</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">42,735</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for services at $.0139</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(11,177</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1,139</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                  of deferred expense</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">521</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">521</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Comprehensive
                  loss&#8212;foreign currency translation adjustment</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">29,905</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">29,905</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                  loss for the period from inception to April&#160;30, 2002</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(95,901</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(95,901</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="27%">&#160;</td>
              <td valign="bottom" width="11%">&#160;</td>
              <td valign="bottom" width="13%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: #ffffff 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                  at April&#160;30, 2002</font></div>
              </td>
              <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(97,245</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(10,656</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">29,905</font></div>
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              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(95,901</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(21,601</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for cash at $1.0677</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">15,590</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for services at $.0214</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(3,127</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1,564</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                  of deferred expense</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3,808</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3,808</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Receipt
                  of cash for subscription receivable</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">91,517</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">91,517</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Comprehensive
                  loss&#8212;foreign currency translation adjustment</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1,534</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1,534</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                  loss for the year ended April&#160;30, 2003</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(111,456</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(111,456</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="27%">&#160;</td>
              <td valign="bottom" width="11%">&#160;</td>
              <td valign="bottom" width="13%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: #ffffff 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                  at April&#160;30, 2003</font></div>
              </td>
              <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5,728</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(9,975</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">31,439</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(207,357</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(19,044</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for cash at $1.2479</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(81,464</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">355,523</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for services at $1.2587</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(25,216</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2,768</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                  of deferred expense</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">7,691</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">7,691</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Exchange
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              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2,909</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">184,280</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Comprehensive
                  loss&#8212;foreign currency translation adjustment</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(51,651</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(51,651</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                  loss for the year ended April&#160;30, 2004</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
              </td>
              <td align="left" valign="bottom" width="13%">
              </td>
              <td align="left" valign="bottom" width="12%">
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(439,453</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(439,453</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="27%">&#160;</td>
              <td valign="bottom" width="11%">&#160;</td>
              <td valign="bottom" width="13%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: #ffffff 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                  at April&#160;30, 2004</font></div>
              </td>
              <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(84,283</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(27,500</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(20,212</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(646,810</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">40,114</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for cash at $1.3218</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
              </td>
              <td align="left" valign="bottom" width="13%">
              </td>
              <td align="left" valign="bottom" width="12%">
              </td>
              <td align="left" valign="bottom" width="12%">
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">494,443</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for services at $1.2308</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">26,955</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3,650
                  shares to be issued for service at $1.4973</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5,465</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                  of deferred expense</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">26,939</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">26,939</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Receipt
                  of cash for subscription receivable</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">84,283</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">84,283</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Options
                  issued for services</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">257,515</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Comprehensive
                  loss&#8212;foreign currency translation adjustment</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5,719</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5,719</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
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              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(1,129,290</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(1,129,290</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            <tr>
              <td align="left" valign="bottom" width="27%">&#160;</td>
              <td valign="bottom" width="11%">&#160;</td>
              <td valign="bottom" width="13%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
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            <tr>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: #ffffff 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                  at April&#160;30, 2005</font></div>
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              <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(561</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(25,931</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(1,776,100</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(199,295</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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            </tr>

        </table>
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      <div>&#160;</div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">202</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
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      <div>&#160;</div>
      <div>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Write
                  off foreign currency translation adjustment</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">25,931</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">25,931</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for cash at $1.5656</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">19,834</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
                  issued for prior service</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Amortization
                  of deferred expense</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">561</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">561</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Options
                  issued for services</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">300,616</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Recapitalization
                  with Bridge Oncology</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(84,470</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Beneficial
                  conversion feature associated with convertible debt
                  financing</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">364,721</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Convertible
                  Series A Preferred shares issued for cash at $10,000 (net of issuance
                  costs of $544,169)</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4,095,830</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Convertible
                  Series A Shares issued on conversion of notes payable</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1,286,318</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Deemed
                  dividend on account of beneficial conversion feature associated
                  with
                  issuance of Convertible Series A Preferred Shares</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(1,522,317</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Issuance
                  costs on warrants issued to placement agent in connection with
                  the
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              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(429,757</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Discount
                  on warrant issued with Convertible Series A Preferred
                  stock</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(2,048,531</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Recapitalization
                  with Hibshman Optical Corp.</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(7,131</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Warrant
                  expense</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">92,689</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                  loss for the year ended April&#160;30, 2006</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5,002,091</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5,002,091</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="27%">&#160;</td>
              <td valign="bottom" width="11%">&#160;</td>
              <td valign="bottom" width="13%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: #ffffff 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                  at April&#160;30, 2006</font></div>
              </td>
              <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(8,300,508</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(1,584,774</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Options
                  issued for services</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">178,046</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Net
                  loss for the nine months ended January 31, 2007</font></div>
              </td>
              <td align="left" valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="right" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5,653,672)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
              <td align="right" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5,653,672)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="27%">&#160;</td>
              <td valign="bottom" width="11%">&#160;</td>
              <td valign="bottom" width="13%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: #ffffff 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Balance
                  at January 31, 2007 (unaudited)</font></div>
              </td>
              <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8212;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(13,954,180)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(7,060,400</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="bottom" width="27%">&#160;</td>
              <td valign="bottom" width="11%">&#160;</td>
              <td valign="bottom" width="13%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
              <td valign="bottom" width="12%">&#160;</td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">203</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Somanta
      Pharmaceuticals, Inc. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(Formerly
      Hibshman Optical Corp.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(A
      Development Stage Company) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Condensed
      Consolidated Statements of Cash Flows </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Nine
      Months Ended January 31, 2007 and 2006 and for the Period from Inception of
      Operations </strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>(Unaudited)
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="5" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>Nine
                Months Ended
                January&#160;31,</strong>&#160;</div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>From
                Inception of</strong></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>Operations</strong></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>(April&#160;19,&#160;2001)&#160;to</strong></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>January
                31, 2007</strong></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>2007</strong>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>2006</strong>&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>Cash
                flows provided by (used for) operating
                activities:</strong></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Net
                loss</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(5,653,672</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(3,661,319</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">$</div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(12,431,863</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>Adjustments
                to reconcile net loss to net cash provided
                by (used for) operating activities:</strong></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Depreciation</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">4,116</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">775</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">5,648</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Gain
                on sale of equipment</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(622</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(622</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Amortization
                of stock based expense</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">562</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">39,520</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Write
                off foreign currency translation adjustment</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">25,931</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">25,931</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Change
                in fair value of warrant liabilities</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2,381,024</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2,243,481</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Shares
                issued for services and compensation</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">219,262</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Gain
                on settlement of debts</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(5,049</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(5,049</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
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            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">178,046</div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">233,310</div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">736,177</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Warrants
                expense</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">92,689</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Interest
                expense related to beneficial conversion feature on
                convertible note</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">364,721</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">364,721</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Interest
                expense related to warrants issued on convertible
                note</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">514,981</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">514,981</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>Changes
                in assets and liabilities:</strong></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>(Increase)
                decrease in assets -</strong></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">VAT
                receivable</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,628</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">61,871</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">3,444</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Other
                receivable</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(537</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(537</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Restricted
                funds</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">147,021</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,247</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(5,027</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Prepaid
                expenses</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">77,918</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(21,058</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(12,886</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Deposits</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2,700</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>Increase
                (decrease) in liabilities:</strong></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Accounts
                payable</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">440,568</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">566,430</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">701,069</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Accrued
                liabilities</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">783,032</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">349,638</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,084,450</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Liquidated
                damages</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">35,200</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">35,200</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Deferred
                revenue</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,072</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">8,929</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">7,500</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Due
                to related parties</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">144,003</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">201,607</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">6,109</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Net
                cash used for operating activities</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,460,647</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(1,359,918</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(6,375,802</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>Cash
                flows used for investing
                activities:</strong></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Purchase
                of equipment</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(5,601</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(24,824</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Proceeds
                from sale of equipment</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2,000</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2,000</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Net
                cash used for investing activities</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">2,000</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(5,601</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(22,824</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong>Cash
                flows provided by financing
                activities:</strong></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Loan
                payable&#8212;related party</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">79,402</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Loan
                payment-related party</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">(7,637</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">)</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Proceeds
                from convertible note-related party</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,250,000</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,250,000</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Proceeds
                from issuance of common stock</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">19,834</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">928,125</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Proceeds
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            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">4,095,831</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Cash
                received for subscription receivable</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">175,801</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Net
                cash provided by financing activities</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#8212;</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">1,269,834</div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">6,521,792</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>

      </table>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">204</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div>&#160;</div>
      </div>
      <div><br>
        <div>
          <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Effect
                    of exchange rate changes on cash</strong></font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,938</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Increase
                    (decrease) in cash</strong></font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,458,647</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(95,684</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">129,104</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cash</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">,
                    beginning of period</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,587,751</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">102,885</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Cash,
                    </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">end
                    of period</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">129,104</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">7,201</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">129,104</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Supplemental
                    disclosure of cash flow information:</strong></font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                    paid</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;S</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">&#8212;&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
                    tax paid</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;$</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">&#8212;&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Supplemental
                    disclosure of non-cash operating and financing
                    activities:</strong></font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loan
                    reduction with shares</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;"><strong>$</strong></font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;"><strong>&#8212;
                    </strong></font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;"><strong>$</strong></font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;"><strong>&#8212;
                    </strong></font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;"><strong>$</strong></font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,909</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Receivable
                    from issuance of convertible stock</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">__</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,640,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">___</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Issuance
                    of warrants in conjunction with convertible preferred
                    stock</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,478,288</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,341,785</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deemed
                    dividends related to convertible preferred stock</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,522,317</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,522,317</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Conversion
                    of note and accrued interest</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">1,286,318&#160;</td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,286,318</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
                    issuance costs related to convertible stock</font></div>
                </td>
                <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">___</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">411,605</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">___</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
              </tr>

          </table>
        </div><br></div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">205</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><br></font>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">SOMANTA
        PHARMACEUTICALS, INC. AND SUBSIDIARIES </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">NOTES
        TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">(Unaudited)<strong>&#160;</strong></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">1.&#160;ORGANIZATION,
        BASIS OF PRESENTATION, AND NATURE OF OPERATIONS
</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Organization&#160;</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        Pharmaceuticals, Inc. is a Delaware corporation that was formed for the purpose
        of effecting the reincorporation of Hibshman Optical Corp., a New Jersey
        corporation, into the State of Delaware and for the purpose of consummating
        a
        business combination via a reverse merger of Somanta Incorporated and Hibshman
        Optical Corp. Pursuant to this reverse merger, Somanta Incorporated became
        the
        wholly-owned subsidiary of Somanta Pharmaceuticals, Inc. and the sole operating
        subsidiary of Somanta Pharmaceuticals, Inc. For financial reporting purposes,
        this transaction has been reflected in the accompanying financial statements
        as
        a recapitalization of Somanta Incorporated and the financial statements of
        Somanta Pharmaceuticals, Inc. reflect the historical financial information
        of
        Somanta Incorporated. References herein to the &#8220;Company&#8221; or &#8220;Somanta&#8221; are
        intended to refer to each of Somanta Pharmaceuticals, Inc. and its wholly
        owned
        subsidiary Somanta Incorporated, as well as Somanta Incorporated&#8217;s wholly-owned
        subsidiary Somanta Limited. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Hibshman
        Optical Corp. was originally incorporated in the State of New Jersey in 1991
        under the name PRS Sub I, Inc. The name subsequently changed to Service Lube,
        Inc., then to Fianza Commercial Corp. and then to Hibshman Optical Corp.
        The
        business plan since that time had been to seek to enter into a business
        combination with an entity that had ongoing operations through a reverse
        merger
        or other similar type of transaction. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        Incorporated was incorporated as Somantis Limited under the laws of England
        and
        Wales on April 19, 2001. Somantis Limited changed its name to Somanta Limited
        on
        March 14, 2005, and performed business as a United Kingdom entity through
        the
        fiscal year ending April 30, 2005. On August 22, 2005, Somanta Limited became
        a
        wholly owned subsidiary of Bridge Oncology Products, Inc. (&#8220;BOPI&#8221;), a privately
        held Delaware corporation, pursuant to a share exchange with BOPI; however,
        Somanta Limited was deemed the accounting acquirer in this share exchange
        transaction. On August 24, 2005, the name of BOPI was changed to Somanta
        Incorporated. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        Pharmaceuticals, Inc. is a development stage biopharmaceutical company engaged
        in the development of products for the treatment of cancer. The Company has
        in-licensed four product development candidates from academic and research
        institutions in the United States and Europe designed for use in anti-cancer
        therapy in order to advance them along the regulatory and clinical pathways
        toward commercial approval. The Company intends to obtain approval from the
        United States Food and Drug Administration (&#8220;FDA&#8221;) and from the European
        Medicines Evaluation Agency (&#8220;EMEA&#8221;) for the products. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
        is a development stage enterprise since the Company has not generated revenue
        from the sale of its products, and its efforts have been principally devoted
        to
        identification, licensing and clinical development of its products as well
        as
        raising capital through January 31, 2007. Accordingly, the financial statements
        have been prepared in accordance with the provisions of Statement of Financial
        Accounting Standards (SFAS) No. 7, &#8220;Accounting and Reporting by Development
        Stage Enterprises.&#8221; </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Basis
        of Presentation</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        accompanying unaudited condensed interim consolidated financial statements
        have
        been prepared in accordance with accounting principles generally accepted
        in the
        United States of America for interim financial information and with the
        instructions to Form 10-QSB and Article 10 of Regulation S-X. Accordingly,
        they
        do not include all of the information and footnotes required by accounting
        principles generally accepted in the United States of America for complete
        financial statements. These condensed consolidated financial statements should
        be read in conjunction with the consolidated financial statements and notes
        for
        the years ended April 30, 2006 and 2005. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        preparation of financial statements in conformity with generally accepted
        accounting principles requires management to make estimates and assumptions
        that
        affect the amounts reported in the financial statements and accompanying
        notes.
        Actual results could differ from those estimates. In the opinion of management,
        all adjustments (consisting solely of normal recurring adjustments) considered
        necessary for a fair presentation have been included. Operating results for
        the
        three and nine months ended January 31, 2007 are not necessarily indicative
        of
        the results that may be expected for the full fiscal year ending April 30,
        2007.&#160;</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">206</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          Company reported a net loss and net loss applicable to common stockholders
          of
          $5,653,672 for the nine month period ended January 31, 2007. The net loss
          from
          date of inception, April 19, 2001 to January 31, 2007, totaled $12,431,863
          (net
          loss applicable to common stockholders of $13,954,180). The Company&#8217;s operating
          activities have used cash since its inception. These losses raise substantial
          doubt about the Company&#8217;s ability to continue as a going concern. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Continued
          operations will depend on whether the Company is able to raise additional
          funds
          through various potential sources, such as equity and debt financing. Such
          additional funds may not become available on acceptable terms, and there
          can be
          no assurance that any additional funding that the Company obtains will
          be
          sufficient to meet its needs in the long term. Through January 31, 2007,
          a
          significant portion of the Company&#8217;s financing has been through private sales of
          capital stock. The Company will continue to fund operations from cash on
          hand
          and through the sources of capital previously described. The Company can
          give no
          assurance that any additional capital that it is able to obtain will be
          sufficient to meet future needs. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          Company will not have sufficient cash to fund operations through the fourth
          quarter of the fiscal year beginning May 1, 2006, given the current and
          desired
          pace of clinical development of its product candidates. If cash reserves
          are not
          sufficient to sustain operations during that period, management plans to
          raise
          additional capital by selling shares of capital stock or other securities.
          There
          can be no assurance that such capital will be available on favorable terms
          or at
          all. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
          financial statements do not include any adjustments to reflect the possible
          future effects on the recoverability and classification of assets or the
          amounts
          and classification of liabilities that may result from the possible inability
          of
          the Company to continue as a going concern. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Reclassifications</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">For
          comparative purposes, prior periods&#8217; consolidated financial statements have been
          reclassified to conform with report classifications of the current period.
          The
          Company has reclassified certain expenses related to the in-licensing of
          product
          candidates, milestone and license maintenance payments and patent expense
          from
          general and administrative expense to research and development expense.
          </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Share-Based
          Payments </strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
          December 16, 2004, the FASB issued SFAS No. 123 (revised 2004), &#8220;Share-Based
          Payment&#8221; (SFAS 123R). SFAS 123R eliminates the alternative of applying the
          intrinsic value measurement provisions of APB 25 to stock compensation
          awards
          issued to employees. Rather, the new standard requires enterprises to measure
          the cost of employee services received in exchange for an award of equity
          instruments based on the grant-date fair value of the award. That cost
          will be
          recognized over the period during which an employee is required to provide
          services in exchange for the award, known as the requisite service period
          (usually the vesting period). On April 14, 2005, the Securities and Exchange
          Commission announced the adoption of a rule that defers the required effective
          date of SFAS 123R. The SEC rule provides that SFAS 123R is now effective
          for
          registrants as of the beginning of the first fiscal year beginning after
          June
          15, 2005. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effective
          May 1, 2006, the Company adopted SFAS 123R and accordingly has adopted
          the
          modified prospective application method. Under this method, SFAS 123R is
          applied
          to new awards and to awards modified, repurchased, or cancelled after the
          effective date. Additionally, compensation cost for the portion of awards
          that
          are outstanding as of the date of adoption for which the requisite service
          has
          not been rendered (such as unvested options) is recognized over a period
          of time
          as the remaining requisite services are rendered. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prior
          to
          May 1, 2006, the Company accounted for its employee stock option plan in
          accordance with the provisions of SFAS No. 123, &#8220;Accounting for Stock-Based
          Compensation,&#8221; and SFAS No. 148, &#8220;Accounting for Stock-Based Compensation -
          Transition and Disclosure.&#8221; </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Fair
          Value of Financial Instruments</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Statement
          of Financial Accounting Standard No. 107, Disclosures About Fair Value
          of
          Financial Instruments, requires that the company disclose estimated fair
          values
          of financial instruments. The carrying amounts reported in the balance
          sheets
          for current assets and current liabilities qualifying as financial instruments
          are a reasonable estimate of fair value. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">207</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div>&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Basic
          and diluted net loss per share</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Net
          loss per
          share is calculated in accordance with the Statement of Financial Accounting
          Standards No. 128 (SFAS No. 128). Basic net loss per share is based upon
          the
          weighted average number of common shares outstanding. Diluted net loss
          per share
          is based on the assumption that all potential dilutive convertible shares
          and
          stock options or warrants were </font></div>
      </div>
      <div><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">converted
        or exercised. The calculation of diluted net loss per share excludes potential
        common stock equivalents if the effect is anti-dilutive. The Company&#8217;s weighted
        common shares outstanding for basic and dilutive were the same since the
        effect
        of common stock equivalents was anti-dilutive. </font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div>&#160;</div>
        <div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
            Company has the following dilutive convertible shares, stock options
            and
            warrants as of January 31, 2007 and 2006 which were excluded from the
            calculation since the effect is anti-dilutive. </font><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
            <div>
              <table cellpadding="0" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2007
</div>
                    </td>
                    <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">2006
</div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="bottom" width="60%">
                    </td>
                    <td valign="bottom" width="12%">
                    </td>
                    <td valign="bottom" width="11%">&#160;</td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="60%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Convertible
                        preferred stock </div>
                    </td>
                    <td align="left" valign="bottom" width="12%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;9,877,194
</div>
                    </td>
                    <td align="left" valign="bottom" width="11%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">9,877,194
</div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="60%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Stock
                        options </div>
                    </td>
                    <td align="left" valign="bottom" width="12%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;3,608,332
</div>
                    </td>
                    <td align="left" valign="bottom" width="11%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">3,831,849
</div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Warrants</div>
                    </td>
                    <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;6,952,838
</div>
                    </td>
                    <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">6,802,839</div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="60%" style="BORDER-BOTTOM: #ffffff solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">Total
</div>
                    </td>
                    <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black double">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;20,438,364
</div>
                    </td>
                    <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">20,511,882</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
              Company&#8217;s undeclared dividends on its Preferred Stock amounting to $119,500
              for
              the three months ended January 31, 2007 and $358,500 for the nine months
              ended
              January 31, 2007 are included in the computation of net loss per share
              for the
              period ended January 31, 2007 in accordance with SFAS No. 129. </font></div>
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            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Aggregate
              undeclared dividends on Preferred Stock amounting to $474,104 are included
              in
              the computation of net loss per share for the period from inception
              (April 19,
              2001) to January 31, 2007. </font></div>
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            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Recent
              Accounting Pronouncements</strong></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              May
              2005, the FASB issued FASB Statement No. 154, &#8220;Accounting Changes and Error
              Corrections.&#8221; This new standard replaces APB Opinion No. 20, Accounting Changes,
              and FASB Statement No. 3, Reporting Accounting Changes in Interim Financial
              Statements, and represents another step in the FASB&#8217;s goal to converge its
              standards with those issued by the IASB. Among other changes, Statement
              154
              requires that a voluntary change in accounting principle be applied
              retrospectively with all prior period financial statements presented
              on the new
              accounting principle, unless it is impracticable to do so. Statement
              154 also
              provides that (1) a change in method of depreciating or amortizing
              a long-lived
              nonfinancial asset be accounted for as a change in estimate (prospectively)
              that
              was effected by a change in accounting principle, and (2) correction
              of errors
              in previously issued financial statements should be termed a &#8220;restatement.&#8221; The
              new standard is effective for accounting changes and correction of
              errors made
              in fiscal years beginning after December 15, 2005. Early adoption of
              this
              standard is permitted for accounting changes and correction of errors
              made in
              fiscal years beginning after June 1, 2005. Management believes that
              changes
              resulting from adoption of the FASB do not have a material effect on
              the
              financial statements taken as a whole. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              June
              2005, the EITF reached a consensus on Issue 05-6, &#8220;Determining the Amortization
              Period for Leasehold Improvements,&#8221; which requires that leasehold improvements
              acquired in a business combination or purchased subsequent to the inception
              of a
              lease be amortized over the lesser of the useful life of the assets
              or a term
              that includes renewals that are reasonably assured at the date of the
              business
              combination or purchase. EITF 05-6 is effective for periods beginning
              after June
              29, 2005. Earlier application is permitted in periods for which financial
              statements have not been issued. The adoption of this Issue did not
              have an
              impact on the Company&#8217;s financial statements. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              February 2006, the FASB issued SFAS 155 &#8220;Accounting for Certain Hybrid Financial
              Instruments,&#8221; an amendment of FASB Statements No. 133 and in February 2006, the
              FASB issued SFAS 155, &#8220;Accounting for Certain Hybrid Financial Instruments,&#8221; an
              amendment of FASB Statements No. 133 and 140. This Statement amends
              FASB
              Statements No. 133, &#8220;Accounting for Derivative Instruments and Hedging
              Activities,&#8221; and No. 140, &#8220;Accounting for Transfers and Servicing of Financial
              Assets and Extinguishments of Liabilities&#8221;. This Statement resolves issues
              addressed in Statement 133 Implementation Issue No. D1, Application
              of Statement
              133 to Beneficial Interests in Securitized Financial Assets. This Statement:
              </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="LINE-HEIGHT: 1.25;">
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                    <td align="left">
                      <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Permits
                        fair value remeasurement for any hybrid financial instrument
                        that contains
                        an embedded derivative that otherwise would require bifurcation;
                        </font></div>
                    </td>
                  </tr>

              </table>
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            <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">b.&#160;Clarifies
              which interest-only strips and principal-only strips are not subject
              to the
              requirements of Statement 133; </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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                  <tr valign="top" style="LINE-HEIGHT: 1.25;">
                    <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">c.</font></td>
                    <td align="left">
                      <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Establishes
                        a requirement to evaluate interests in securitized financial
                        assets to
                        identify interests that are freestanding derivatives or that
                        are hybrid
                        financial instruments that contain an embedded derivative
                        requiring
                        bifurcation; </font></div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        </div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">208</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
          <div>&#160;</div>
          <div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">d.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 2.55pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Clarifies
              that concentrations of credit risk in the form of subordination are
              not embedded
              derivatives; and </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                  <tr valign="top" style="LINE-HEIGHT: 1.25;">
                    <td align="left" style="WIDTH: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">e.</font></td>
                    <td align="left">
                      <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amends
                        Statement 140 to eliminate the prohibition on a qualifying
                        special-purpose
                        entity from holding a derivative financial instrument that
                        pertains to a
                        beneficial interest other than another derivative financial
                        instrument.
                        </font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
              Statement is effective for all financial instruments acquired or issued
              after
              the beginning of an entity&#8217;s first fiscal year that begins after September 15,
              2006. The fair value election provided for in paragraph 4(c) of this
              Statement
              may also be applied upon adoption of this Statement for hybrid financial
              instruments that had been bifurcated under paragraph 12 of Statement
              133 prior
              to the adoption of this Statement. Earlier adoption is permitted as
              of the
              beginning of an entity&#8217;s fiscal year, provided the entity has not yet issued
              financial statements, including financial statements for any interim
              period for
              that fiscal year. Provisions of this Statement may be applied to instruments
              that an entity holds at the date of adoption on an instrument-by-instrument
              basis. The Company is currently evaluating the impact of SFAS 155.
</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              March
              2006, the FASB issued SFAS No. 156 (&#8220;FAS 156&#8221;), &#8220;Accounting for Servicing of
              Financial Assets-An Amendment of FASB Statement No. 140.&#8221; Among other
              requirements, FAS 156 requires a company to recognize a servicing asset
              or
              servicing liability when it undertakes an obligation to service a financial
              asset by entering into a servicing contract under certain situations.
              Under FAS
              156 an election can also be made for subsequent fair value measurement
              of
              servicing assets and servicing liabilities by class, thus simplifying
              the
              accounting and providing for income statement recognition of potential
              offsetting changes in the fair value of servicing assets, servicing
              liabilities
              and related derivative instruments. The Statement will be effective
              beginning
              the first fiscal year that begins after September 15, 2006. The Company
              does not
              expect the adoption of FAS 156 will have a material impact on the financial
              position or results of operations. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              June
              2006, the FASB issued FASB Interpretation (FIN) No. 48, &#8220;Accounting for
              Uncertainty in Income Taxes,&#8221; that provides guidance on the accounting for
              uncertainty in income taxes recognized in financial statements. The
              interpretation will be adopted by us on May 1, 2007. The Company is
              currently
              evaluating the impact of adopting FIN 48; however, the Company does
              not expect
              the adoption of this provision to have a material effect on the financial
              position, results of operations or cash flows. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              July
              2006, the FASB issued FASB Staff Position (FSP) No. FAS 13-2, &#8220;Accounting for a
              Change or Projected Change in the Timing of Cash Flows Relating to
              Income Taxes
              Generated by a Leveraged Lease Transaction,&#8221; that provides guidance on how a
              change or a potential change in the timing of cash flows relating to
              income
              taxes generated by a leveraged lease transaction affects the accounting
              by a
              lessor for the lease. This staff position will be adopted by us on
              May 1, 2007.
              The Company is currently evaluating the impact of adopting this FSP;
              however,
              the Company does not expect the adoption of this provision to have
              a material
              effect on the financial position, results of operations or cash flows.
              </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              September 2006, the FASB issued Statement No. 157, &#8220;Fair Value Measurements&#8221;
(SFAS 157). This Statement defines fair value, establishes a framework
              for
              measuring fair value in generally accepted accounting principles (GAAP),
              and
              expands disclosures about fair value measurements. This Statement applies
              under
              other accounting pronouncements that require or permit fair value measurements,
              the Board having previously concluded in those accounting pronouncements
              that
              fair value is the relevant measurement attribute. Accordingly, this
              Statement
              does not require any new fair value measurements. However, for some
              entities,
              the application of this Statement will change current practice. This
              Statement
              is effective for financial statements issued for fiscal years beginning
              after
              November 15, 2007, and interim periods within those fiscal years. The
              Company
              does not expect the adoption of SFAS No. 157 to have a material impact
              on the
              consolidated financial statements. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              September 2006, the FASB issued Statement No. 158, &#8220;Employers&#8217; Accounting for
              Defined Benefit Pension and Other Postretirement Plans&#8212;an amendment of FASB
              Statements No. 87, 88, 106, and 132(R)&#8221; (SFAS 158). This Statement improves
              financial reporting by requiring an employer to recognize the over
              funded or
              under funded status of a defined benefit postretirement plan (other
              than a
              multiemployer plan) as an asset or liability in its statement of financial
              position and to recognize changes in that funded status in the year
              in which the
              changes occur through comprehensive income of a business entity or
              changes in
              unrestricted net assets of a not-for-profit organization. This Statement
              also
              improves financial reporting by requiring an employer to measure the
              funded
              status of a plan as of the date of its year-end statement of financial
              position,
              with limited exceptions. This Statement is effective as of the end
              of the fiscal
              year ending after December 15, 2006. The Company does not have any
              defined
              benefit plans, or other post-retirement plans. Therefore, the Company
              does not
              expect SFAS No. 158 to have any impact on the consolidated financial
              statements.
</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">209</font></div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
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              <div>&#160;</div>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font></strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SIGNIFICANT
              CONTRACTS AND LICENSES</strong></font></div>
          </div>
          <div><br>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>The
              School of Pharmacy, University of London (SOP)</strong></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;In
              September
              2005, The School of Pharmacy formally assigned to the Company the rights
              to a
              key patent application and the relevant know-how in the field of the
              treatment
              of cancer. The Agreement obligates the Company to pay The School of
              Pharmacy
              certain milestone payments based on the achievement of agreed upon
              clinical
              milestones with respect to the prodrug covered by the patent application.
              If the
              Company successfully achieves each of these milestones, it would be
              obligated to
              pay The School of Pharmacy a total aggregate amount of milestone payments
              of GBP
              275,000, or approximately $539,000 at current exchange rates. The Company
              is
              obligated to use its commercial best efforts to achieve these agreed
              upon
              clinical milestones. If the Company fails to achieve any of these agreed
              upon
              clinical milestones, The School of Pharmacy would have the right to
              terminate
              the know-how license under the agreement. In addition, the Company
              is obligated
              to pay The School of Pharmacy a royalty on net sales, if any, of products
              based
              on the prodrug. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em><strong>Immunodex</strong></em></font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
              August
              16, 2005, Somanta Incorporated and Immunodex entered into a patent
              know-how and
              exclusive sublicense agreement. In August 2005, the Company made a
              deposit of
              $150,000 into an escrow account pursuant to this agreement. In December
              2005,
              this $150,000 was released from escrow and paid to Immunodex and recorded
              as
              R&amp;D expense, based on the successful completion of the huBrE-3 mAb testing.
              In February 2006, the Company made a deposit of $150,000 into an escrow
              account
              pursuant to the agreement. This amount was presented as restricted
              funds in the
              consolidated balance sheet for the period ended October 31, 2006. This
              amount
              was released on November 7, 2006. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Effective
              November 3, 2006, the Company entered into a Side Amendment to Patent
              and
              Know-how Exclusive Sublicense Agreement with Immunodex and the Cancer
              Research
              Institute of Contra Costa (&#8220;CRICC&#8221;) (the &#8220;Side Amendment&#8221;). Pursuant to the Side
              Amendment, the Company has agreed with Immunodex and CRICC to reduce
              the amount
              of the annual maintenance fee under the License Agreement from $250,000
              to
              $200,000 and to defer the annual maintenance fee that was due in August,
              2006
              until the earlier of (i) the closing of a fundraising resulting in
              gross
              proceeds to us of at least $5,000,000, or (ii) January 31, 2007 (the
&#8220;2006
              Annual Maintenance Fee&#8221;). If the Company is unable to timely pay the 2006 Annual
              Maintenance Fee, the annual maintenance fee due under the License Agreement
              would revert to $250,000. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              addition, the Company elected to terminate the License Agreement with
              respect to
              huBrE-3 mAb product candidate. As a result, the Company has terminated
              all
              development activities with respect to huBrE-3 mAb and returned the
              related cell
              lines to Immunodex. In connection therewith, the Company has terminated
              its
              financial support of the clinical trial currently being conducted at
              New York
              University with respect to huBrE-3 mAB (the &#8220;huBrE-3 mAb Clinical Trial&#8221;). The
              Company has agreed to pay a total of $31,400 to CRICC for the two patients
              that
              were dosed in the huBrE-3 mAb Clinical Trial, which amount shall become
              due and
              payable at the time the Company becomes obligated to make the 2006
              Annual
              Maintenance Fee payment. Subject to the timely payment of the 2006
              Annual
              Maintenance Fee, Immunodex has waived any cancellation fee related
              to the
              termination of the license with respect to huBrE-3 mAb, and Immunodex
              and CRICC
              have waived any further payments under the License Agreement or the
              Clinical
              Trial Agreement with respect to the huBrE-3 mAb Clinical Trial. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
              Company has retained its rights with respect to huMc-3 mAb and its
              product
              candidate Angiolix; however, the Company has agreed to suspend the
              development
              of Angiolix until such time as the Company has paid the 2006 Annual
              Maintenance
              Fee. In addition, each of the product development milestones with respect
              to
              Angiolix set forth in the License Agreement has been reset to begin
              at such time
              as we make the 2006 Annual Maintenance Fee payment. </font></div>
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            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
              addition, the Company agreed to reimburse Immunodex for certain out
              of pocket
              expenses in the aggregate amount of approximately $21,000, which amount
              was
              payable upon the execution of the Side Amendment. </font></div>
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              January
              18, 2007 the Company entered into an Amendment to the Side Amendment
              which
              defers the amounts due on January 31, 2007, including the 2006 Annual
              Maintenance Fee, until July 31, 2007. In consideration for the deferral,
              the
              Company will pay $12,000 for each month of the deferral. In addition,
              the
              Company paid $2,050 of patent annuity payments.</font></div>
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            <div>&#160;</div>
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                <div style="WIDTH: 100%; TEXT-ALIGN: center">
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            <div>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;On
                November
                8, 2006, the Company made application to the National Institutes
                of Health for a
                non-exclusive license to certain patents held by NIH related to the
                humanization
                of Angiolix (huMc-3 mAb). On December 5, 2006 NIH provided the Company
                with
                proposed terms for a non-exclusive license. The Company is in discussion
                with
                NIH on those proposed terms and conditions.&gt;</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>University
                of Bradford (&#8220;UoB&#8221;)</em></strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
                March
                1, 2006, the Company entered into an agreement with the University
                of Bradford,
                Leeds, United Kingdom for the Company to fund a two-year research
                and
                development project staffed by UoB scientists to evaluate di-N-oxides
                of
                chloroethylaminoanthraquinones as a bioreductive prodrug and to evaluate
                and
                provide data on chloroethylaminoanthraquinones to support the requirements
                to
                initial clinical trials. The Company paid $84,835 and accrued $207,403
                for
                project costs based on this agreement as of January 31, 2007. </font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Imperial
                College of Science, Technology and Medicine (&#8220;Imperial
                College&#8221;)</em></strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
                July
                27, 2006, the Company entered into an agreement with Imperial College
                and a
                post-graduate student for the Company to fund a three-year pre-clinical
                research
                project staffed by Imperial College scientists to evaluate Angiolix
                (huMc-3 mAb)
                for anti-vascular cancer therapy. The Company has incurred $61,508for
                the
                project costs in the nine months ended January 31, 2007. </font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong><em>Virium
                Pharmaceuticals, Inc. (&#8220;Virium&#8221;) </em></strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                February 2005, the Company entered into a Phenylbutyrate Co-development
                and
                Sublicense Agreement with Virium Pharmaceuticals, Inc., pursuant
                to which Virium
                granted the Company an exclusive, worldwide sublicense to PB, excluding
                the U.S.
                and Canada, for the treatment of cancer, autoimmune diseases and
                other clinical
                indications. The Company paid Virium a license fee of $50,000. Virium
                retained
                all rights with respect to PB inside the U.S. and Canada. The Company&#8217;s single
                largest stockholder, SCO Capital Partners, LLC, is also the single
                largest
                stockholder of Virium Pharmaceuticals, Inc. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Virium
                is
                also a party to a sublicense agreement with VectraMed, Inc. for the
                rights to
                develop and commercialize PB worldwide for the treatment of cancer,
                autoimmune
                diseases and other clinical indications. VectraMed obtained its rights
                to the
                product under an Exclusive Patent License Agreement dated May 25,
                1995 with the
                U.S. Public Health Service, representing the National Institutes
                of Health.
                VectraMed subsequently assigned all its rights to PB to Virium pursuant
                to a
                novation agreement dated May 10, 2005. </font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
                to our agreement with Virium, we are responsible for the conduct
                of clinical
                trials and patent prosecution related to PB outside of the U.S. and
                Canada. The
                Virium agreement also requires the Company to pay Virium a royalty
                on the sales
                of PB products until such time as the patents covering such products
                expire.
                These patents expire at various times between 2011 and 2016. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                Company&#8217;s agreement with Virium does not fully comply with the sublicensing
                requirements set forth in Virium&#8217;s agreement with the National Institutes of
                Health because it does not expressly incorporate by reference all
                of the
                relevant sections of Virium&#8217;s license with NIH. The Company is currently seeking
                to amend the agreement with Virium to bring it into full compliance
                with such
                sublicensing requirements and to permit the Company to become a direct
                licensee
                of the NIH should Virium default on its license with the NIH. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
                October 20, 2006, NIH conditionally consented to the sublicense to
                the Company.
                However, the NIH conditions include an amendment to the Virium license
                to
                reflect an updated Virium development plan and milestones, the payment
                of
                $216,971 in past due patent expenses and the payment of a $5,000
                sublicense
                royalty. Based on the information provided by NIH, it appears that
                about
                $200,000 relates to foreign patent expenses for calendar 2005 which
                would be the
                Company&#8217;s responsibility under its license agreement with Virium. Of that
                amount, approximately $12,000 relates to foreign patent maintenance
                fees and
                $197,000 largely relates to foreign patent legal expenses. The Company
                accrued
                approximately $266,000 as patent legal expense for the nine month
                period ended
                January 31, 2007. Virium has not advised the Company that the conditions
                to the
                NIH&#8217;s approval of the Company&#8217;s sublicense have been met. </font></div>
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                <div>&#160;</div>
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;On
                December
                6, 2006, the Company signed a letter of intent (LOI) pertaining to
                a license and
                collaboration agreement with Virium covering all formulations or
                drug
                combinations where Phenylbutyrate is an active ingredient. Pursuant
                to the LOI,
                in addition to current worldwide rights, excluding North America,
                involving the
                current formulation of Phenylbutyrate, Somanta would obtain a participation
                in
                any revenue or royalties derived from sales in North America. In
                return, we
                would grant Virium a reciprocal participation in Europe. In the rest
                of the
                world, Somanta and Virium would share revenues and royalties equally.
                The LOI&#8217;s
                terms provide that both companies will, among other things, share
                data
                and</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">jointly
                undertake the necessary pre-clinical and clinical studies, seek regulatory
                approvals and file for patent protection in all territories. It also
                provides
                for the formation of a joint development committee to oversee all
                aspects of the
                development and commercialization of Phenylbutyrate. Completion of
                the
                transaction contemplated by the LOI remains subject to the negotiation
                and
                execution of a definitive agreement.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font></strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>PRIVATE
                  PLACEMENT</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
                  January 31, 2006, Somanta Pharmaceuticals, Inc. completed a private
                  placement of
                  592.6318 shares of its Series A Convertible Preferred Stock (&#8220;Series A
                  Preferred&#8221;) at a price of $10,000 per share, including six-year warrants
                  to
                  purchase an additional 4,938,598 shares of its common stock. The
                  Series A
                  Preferred shares consisted of 464 shares purchased by investors
                  which are
                  convertible into 7,733,333 shares of common stock and 128.6318
                  shares that gave
                  effect to the conversion amount of $1,286,318, representing the
                  value of the
                  converted note of $1,250,000 and the associated accrued interest
                  of $36,318. The
                  total 592.6318 preferred shares are convertible into 9,877,197
                  common shares.
                  Gross proceeds to Somanta were $4,640,000, including $3,671,209
                  in cash,
                  payments to various vendors amounting $968,791, which included
                  cash payment of
                  $624,105 to SCO Securities, LLC, its placement agent. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                  Series A Preferred is initially convertible into 9,877,197 shares
                  of the
                  Company&#8217;s common stock at a conversion price of $0.60 per share. The conversion
                  value is subject to adjustment. The exercise price for the warrants
                  is $0.75 per
                  share and they are immediately exercisable upon issuance. The fair
                  market value
                  of these warrants, as discussed further below, was estimated to
                  be $0.41 per
                  share. The warrants expire on January 31, 2012. None of the warrants
                  have been
                  exercised as of January 31, 2007. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Holders
                  of the Series A Preferred stock are entitled to receive dividends
                  at 8% per
                  annum. Dividends will accrue and will be cumulative from the date
                  of issuance,
                  whether or not earned or declared by the Board of Directors. Dividends
                  can be
                  paid at the Company&#8217;s option either in cash or shares of the Company&#8217;s common
                  stock on April 30 and October 31 of each year. The holders of the
                  Series A
                  Preferred stock have full voting rights and powers, subject to
                  the Beneficial
                  Ownership Cap, equal to the voting rights and powers of the Common
                  stock
                  holders. The Board of Directors did not declare the dividends as
                  of October 31,
                  2006. Therefore, a dividend of $115,604 for the year ended April
                  30, 2006, and
                  $358,500 for the nine months ended January 31, 2007 on the Preferred
                  Stock have
                  not been recorded in the consolidated financial statements, but
                  in accordance
                  with SFAS No. 129, the dividend amount has been included in the
                  calculation of
                  the net loss per share. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                  Series A Preferred stockholders have a liquidation preference,
                  in the event of
                  any voluntary or involuntary liquidation, dissolution or winding
                  up of the
                  Corporation, senior to the holders of common stock in an amount
                  equal to $10,000
                  per share of preferred stock plus any accumulated and unpaid dividends
                  on the
                  preferred stock. In the alternative, the holders of the Series
                  A Preferred may
                  elect to receive the amount per share that would be distributed
                  among the
                  holders of the preferred stock and common stock pro rata based
                  on the number of
                  shares of the common stock held by each holder assuming conversion
                  of all
                  preferred stock, if such amount is greater than the amount such
                  holder would
                  receive pursuant to the liquidation preference. A change of control
                  of the
                  Corporation will not be deemed a liquidation. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                  Series A Preferred Stock is not redeemable for cash. The holder
                  of any share or
                  shares of Series A Preferred can, at the holder&#8217;s option, at any time convert
                  all or any lesser portion of such holder&#8217;s shares of Series A Preferred Stock
                  into such number of shares of common stock as is determined by
                  dividing the
                  aggregate liquidation preference of the shares of preferred stock
                  to be
                  converted plus accrued and unpaid dividends thereon by the conversion
                  value then
                  in effect for such Preferred Stock (&#8220;Conversion Value&#8221;). The Company can, on the
                  occurrence of a conversion triggering event, elect to convert all
                  of the
                  outstanding preferred stock into common stock. A conversion triggering
                  event is
                  (i) a time when the registration statement covering the shares
                  of common stock
                  into which the Series A Preferred is convertible is effective and
                  sales may be
                  made pursuant thereto or all of the shares of common stock into
                  which the Series
                  A Preferred is convertible may be sold without restriction pursuant
                  to Rule
                  144(k) promulgated by the SEC and the daily market price of the
                  common stock,
                  after adjusting for stock splits, reverse splits, stock dividends
                  and the like
                  is $5 or more for a period of 30 of the immediately preceding 60
                  consecutive
                  trading days and the volume of common stock traded on the applicable
                  stock
                  exchange on each such trading day is not less than 100,000 shares,
                  or (ii) a
                  time when the Company consummates a sale of common stock in a firm
                  commitment
                  underwritten public offering in which the offering price before
                  deduction of
                  expenses of the common stock is greater than 200% of the Conversion
                  Value and
                  the aggregate gross proceeds of the offering to the Company are
                  greater than $25
                  million. </font></div>
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                <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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                    </div>
                  </div>
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                    <div style="WIDTH: 100%; TEXT-ALIGN: center">
                      <hr style="COLOR: black" noshade size="2">
                    </div>
                  </div>
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                    <div id="GLHDR" style="WIDTH: 100%" align="right">
                    </div>
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                  <div>&#160;</div>
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">All
                  the
                  outstanding preferred stock will be automatically converted to
                  common stock upon
                  an occurrence of a qualified change of control provided that upon
                  consummation
                  of a qualified change of control the holders of the shares issuable
                  on automatic
                  conversion shall be entitled to receive the same per share consideration
                  as the
                  qualified change of control transaction consideration. The holders
                  of the Series
                  A Preferred may require the Company to redeem the shares</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">upon
                  the
                  Company&#8217;s failure or refusal to convert any shares of Preferred Stock in
                  accordance with the terms of issue, or by providing a written notice
                  to that
                  effect. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                    Series A Preferred has been classified as equity, as the Series
                    A Preferred
                    stock is not redeemable. In accordance with EITF No. 00-27, Application
                    of Issue
                    No. 98-5 to Certain Convertible Instruments, the Company has
                    determined that the
                    Series A Preferred had a beneficial conversion feature of $1,522,317
                    as of the
                    date of issuance. As such, the Company recorded a non-cash deemed
                    dividend of
                    $1,522,317 resulting from the difference between the conversion
                    price determined
                    after allocation of the full fair value of the warrants of $0.45
                    and the fair
                    value of common stock of $0.60. The carrying value of the Series
                    A Preferred of
                    $5,926,318 was recorded net of the deemed dividend of $1,522,317
                    and a discount
                    of $2,048,531 on account of the full fair value of the warrants
                    at the issuance
                    date. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                    fair
                    value of the above warrants has been classified as a liability
                    pursuant to EITF
                    00-19. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font></strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>LIQUIDATED
                    DAMAGES AND WARRANT LIABILITIES</strong></font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                    connection with the additional $250,000 line of credit drawn
                    pursuant to a
                    convertible note which was converted into Series A Preferred
                    on January 31, 2006
                    (Note 4), the Company issued warrants to purchase a total of
                    866,534 shares of
                    common stock at an exercise price of $0.01 per share to SCO.
                    The warrants are
                    immediately exercisable upon issuance and expire on November
                    8, 2012. The fair
                    market value of these warrants, as discussed further below, was
                    estimated to be
                    $0.59 per share. The assumptions used in the Black-Scholes model
                    were risk-free
                    interest rate of 4.5% at the time of issuance, volatility factors
                    of 97.24%
                    calculated as the weighted average of the stock price volatility
                    of ranked
                    comparable public companies, and contractual terms equal to the
                    exercise periods
                    of the respective warrants. The fair value of the common stock
                    as used in this
                    calculation was $.60 per share, as negotiated between the Company
                    and the Series
                    A Convertible Preferred Stock investors. None of these warrants
                    have been
                    exercised as of January 31, 2007. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                    holders of the Series A Preferred and warrants have registration
                    rights which
                    obligate the Company to file a registration statement with the
                    Securities and
                    Exchange Commission (&#8220;SEC&#8221;) covering the resale of the common stock issuable
                    upon conversion of the Series A Preferred and the common stock
                    issuable upon
                    exercise of the warrants (as well as certain other securities
                    of the Company)
                    within 30 days after the closing of the private placement. In
                    the event the
                    registration statement is not filed within such thirty day period
                    or if the
                    registration statement is not effective within 120 days after
                    the date it is
                    filed, or a registration statement, once declared effective ceases
                    to remain
                    effective during the period that the securities covered by the
                    agreement are not
                    sold, the Company will be required to pay, in cash, liquidated
                    damages for such
                    failure, equal to 1% of the holders of the Series A Preferred
                    investment amount
                    for each thirty day period in which the registration statement
                    is not filed or
                    effective, or maintained effective, as the case may be. This
                    penalty obligation
                    expired on January 31, 2007 since the SEC declared the Registration
                    Statement
                    effective on August 10, 2006.</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                    accordance with EITF Issue 05-4, The Effect of a Liquidated Damages
                    Clause on a
                    Freestanding Financial Instrument Subject to Issue No. 00-19,
                    the Company
                    believes that the effect of the liquidated damages should be
                    treated under the
                    first view (View A), which states that a registration rights
                    agreement should be
                    treated as a combined unit together with the underlying financial
                    instruments,
                    warrants and derivative debenture and evaluated as a single instrument
                    under
                    EITF Issue 00-19 and FAS 133. The Company concluded that this
                    view is the most
                    appropriate for the transaction. The Registration Rights Agreement and the
                    financial instruments to which it pertains (the warrants and
                    the preferred
                    stock) were considered a combined instrument and accounted for
                    accordingly. The
                    SEC declared the Registration Statement effective on August 10,
                    2006. As a
                    result, during the quarter ended July 31, 2006, the Company accrued
                    a liability
                    of liquidated damages of $120,502. During the quarter ended October
                    31, 2006 an
                    agreement was reached with SCO on the liquidated damages matter.
                    The agreement
                    concluded that since the securities owned by SCO Capital Partners,
                    LLC were not
                    registered because SCO voluntarily withdrew them from the Registration
                    because
                    of the resale restrictions required by the SEC, the Company is
                    not obligated for
                    any liquidated damages pertaining specifically to SCO Capital
                    Partners, LLC.
                    Accordingly, the Company reversed out $85,302 of liquidated damages
                    in the prior
                    quarter ended October 31, 2006. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                    Company also issued six year warrants to its placement agent
                    to purchase 987,720
                    common shares at $0.60 per share to SCO Securities LLC, as part
                    of the success
                    fees of 10% of the aggregate value of the transaction at sales
                    price of common
                    stock. These warrants are immediately exercisable upon issuance.
                    The fair value
                    of these warrants at the date of issue was estimated to be $0.44
                    per share and
                    has been recorded as issuance costs and offset against the proceeds
                    of the
                    Series A Preferred. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div id="FTR">
                      <div id="GLFTR" style="WIDTH: 100%" align="left">
                      </div>
                    </div>
                    <div id="PN" style="PAGE-BREAK-AFTER: always">
                      <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">213</font></div>
                      <div style="WIDTH: 100%; TEXT-ALIGN: center">
                        <hr style="COLOR: black" noshade size="2">
                      </div>
                    </div>
                    <div id="HDR">
                      <div id="GLHDR" style="WIDTH: 100%" align="right">
                      </div>
                    </div>
                    <div>&#160;</div>
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;The
                    fair
                    value of warrants issued in connection with the issue of convertible
                    debt and
                    convertible preferred stock, including the agent warrants, was
                    estimated at the
                    date of grant and revalued at January 31, 2007 using a Black
                    Scholes option
                    pricing model with the following assumptions: a risk free interest
                    rate of
                    approximately 4.5% at the issuance date and 4.9% on January 31,
                    2007, no
                    dividend yield, volatility factors of 81.89% to 97.24% at the
                    issuance date and
                    60.22% to</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">62.32%
                    at
                    January 31, 2007, contractual terms of 6 and 7 years and expected
                    terms based
                    upon the formula prescribed in SEC Staff Accounting Bulletin
                    107 of 3 years and
                    3.5 years. These assumptions use the interest rate prevailing
                    at the time of
                    issuance, volatility factors calculated as the weighted average
                    of the stock
                    price volatility of ranked comparable public companies, and contractual
                    terms
                    equal to the exercise periods of the respective warrants. The
                    fair value of the
                    common stock as used in this calculation was $.60 per share at
                    the issuance
                    date, as negotiated between the Company and unaffiliated third
                    party Series A
                    investors, and $1.10 on January 31, 2007. The change in fair
                    value of the
                    warrants for the three months and nine months ended January 31,
                    2007 of
                    $2,775,348 and $2,381,024, respectively, was reported in loss
                    and disclosed in
                    the financial statements.</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                      following table summarizes the activity for warrants issued
                      during the nine
                      month period ended January 31, 2007. </font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                      <table cellpadding="0" cellspacing="0" width="100%">

                          <tr>
                            <td align="left" valign="middle" width="61%">&#160;</td>
                            <td align="left" valign="middle" width="11%">&#160;</td>
                            <td align="left" valign="middle" width="9%">&#160;</td>
                          </tr>
                          <tr>
                            <td align="left" valign="bottom" width="61%" style="BORDER-BOTTOM: #ffffff solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                            </td>
                            <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Number
                                of</strong></font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>shares</strong></font></div>
                            </td>
                            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Weighted</strong></font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Average</strong></font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise</strong></font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Price</strong></font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="61%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Balance&#8212;April
                                30, 2006 </font></div>
                            </td>
                            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;6,952,838
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;0.62
                                </font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="61%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#8212;
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#8212;
                                </font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="61%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercised
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#8212;
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#8212;
                                </font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="61%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#8212;
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#8212;
                                </font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="61%" style="BORDER-BOTTOM: #ffffff solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">E</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">xpired
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#8212;
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#8212;
                                </font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="61%" style="BORDER-BOTTOM: #ffffff solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Balance&#8212;
                                January 31, 2007 </font></div>
                            </td>
                            <td align="left" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;6,952,838
                                </font></div>
                            </td>
                            <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;0.62
                                </font></div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                        following table summarizes information about warrants outstanding
                        as of January
                        31, 2007. </font></div><br></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
                      <div align="center">
                        <table cellpadding="0" cellspacing="0" width="50%">

                            <tr>
                              <td colspan="5" valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Warrants
                                  Outstanding and Exercisable</strong></font></div>
                              </td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="10%">&#160;</td>
                              <td align="left" valign="bottom" width="2%">&#160;</td>
                              <td align="left" valign="bottom" width="10%">&#160;</td>
                              <td align="left" valign="bottom" width="2%">&#160;</td>
                              <td align="left" valign="bottom" width="10%">&#160;</td>
                            </tr>
                            <tr>
                              <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise
                                  prices</strong></font></div>
                              </td>
                              <td valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Number
                                  Outstanding and Exercisable</strong></font></div>
                              </td>
                              <td valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Weighted
                                  Average Remaining Contractual Life (years)</strong></font></div>
                              </td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="10%">&#160;</td>
                              <td align="left" valign="bottom" width="2%">&#160;</td>
                              <td align="left" valign="bottom" width="10%">&#160;</td>
                              <td align="left" valign="bottom" width="2%">&#160;</td>
                              <td align="left" valign="bottom" width="10%">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;$
                                  0.01 </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;1,016,534
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">
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                                  </font></div>
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                            <tr>
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                              <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">
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                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">
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                              </td>
                            </tr>

                        </table>
                      </div>
                    </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  </div>
                </div>
              </div>
            </div>
            <div>&#160;</div>
            <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
              <div id="FTR">
                <div id="GLFTR" style="WIDTH: 100%" align="left">
                </div>
              </div>
              <div id="PN" style="PAGE-BREAK-AFTER: always">
                <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">214</font></div>
                <div style="WIDTH: 100%; TEXT-ALIGN: center">
                  <hr style="COLOR: black" noshade size="2">
                </div>
              </div>
              <div id="HDR">
                <div id="GLHDR" style="WIDTH: 100%" align="right">
                </div>
              </div>
              <div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font></strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>EMPLOYMENT
                  AND CONSULTING AGREEMENTS</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                  January 2006, the Company entered into employment agreements with
                  the Company&#8217;s
                  President and Chief Executive Officer (&#8220;CEO&#8221;), and with the Company&#8217;s Executive
                  Chairman, for one year terms. These agreements were automatically
                  renewed for an
                  additional on year term on January 31, 2007. Under these agreements,
                  the
                  President and Executive Chairman are to be paid annual base salaries
                  of $275,000
                  and $248,000, respectively. Both officers are eligible to receive
                  annual bonuses
                  and additional stock option grants at the discretion of the Company&#8217;s board of
                  directors. In July 2006, the Company&#8217;s CEO and Executive Chairman agreed to
                  defer 50% of their base salaries until the completion of the Company&#8217;s next fund
                  raising at which time the deferred amounts would be repaid and
                  the deferrals
                  would cease. Effective October 1, 2006, the Company&#8217;s CEO and Executive Chairman
                  agreed to defer 100% of their base salaries until the completion
                  of the
                  Company&#8217;s next fund raising, or the completion of a merger or other
                  consolidation with another company, at which time the deferred
                  amounts would be
                  repaid and the deferrals would cease. Effective June 30, 2006,
                  our Executive
                  Chairman was appointed by our Board to be our Chief Financial Officer,
                  Secretary
                  and Treasurer. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                  January 2006, the Company entered into an employment agreement
                  with the
                  Company&#8217;s Chief Financial Officer (&#8220;CFO&#8221;). Under the agreement, the CFO was to
                  be paid an annual base salary of $215,000 and also entitled to
                  receive an annual
                  bonus and additional stock option grants at the discretion of the
                  Company&#8217;s
                  board of directors. In June 2006, the Company&#8217;s CFO resigned. The Company is not
                  obligated to pay him any severance or other payments as the result
                  of his
                  departure; however, the board agreed to amend the terms of his
                  stock option
                  agreement to immediately vest him in twenty five percent (25%)
                  of the shares
                  covered by the option, or 101,668 shares, and enable him to exercise
                  such option
                  until June 30, 2007. Based on FAS 123R, no incremental expense
                  was recorded for
                  these options with accelerated vesting as the fair value of the
                  modified options
                  was less than the fair value of the original options calculated
                  immediately
                  before the terms were modified. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
                  November 2005, the Company entered into two consulting agreements:
                  (i) a Service
                  Provision Agreement with Pharma Consultancy Limited, a UK company
                  controlled by
                  Luiz Porto, one of the Company&#8217;s stockholders pursuant to which the Company will
                  pay Dr. Porto approximately $278,000 per year, for services rendered
                  by Dr.
                  Porto to the Company as an independent consultant in connection
                  with the
                  management of the Company&#8217;s clinical activities, that will terminate on December
                  31, 2006 unless extended by a mutual written agreement of the parties
                  and may be
                  terminated, with or without cause, by giving the other party thirty
                  (30) days&#8217;
prior written notice; and (ii) a Service Provision Agreement with
                  Gary Bower
                  pursuant to which the Company will pay Mr. Bower approximately
                  $156,000 per year
                  for services rendered by Mr. Bower to the Company as an independent consultant
                  in connection with the pre-clinical activities related to the manufacturing
                  of
                  the Company&#8217;s product candidates, that will terminate on December 31, 2006
                  unless extended by a mutual written agreement of the parties and
                  that may be
                  terminated, with or without cause, by giving the other party thirty
                  (30) days&#8217;
prior written notice. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                  agreement with Mr. Bower was amended in April 2006 to include GTE
                  Consultancy
                  Limited, a company organized under the laws of United Kingdom and
                  owned by Mr.
                  Bower, as the service provider pursuant to the agreement. With
                  the approval of
                  the Company&#8217;s board of directors, both Dr. Porto and Mr. Bower may also be
                  granted cash bonuses and stock options in the future. In July 2006,
                  Pharma
                  Consultancy Limited and GTE Consultancy Limited amended their agreements
                  to
                  reduce, effective September 1, 2006, their consulting services
                  to the Company by
                  33%, which in turn, will reduce the Company&#8217;s payments by approximately $91,000
                  and $51,000, respectively, on an annualized basis. Both agreements
                  expired by
                  there terms on December 31, 2006 and were not renewed.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                  Company&#8217;s former CFO resigned in August 2005, in connection with the closing
                  of
                  the share exchange agreement with Bridge Oncology. In January 2006,
                  he entered
                  into a consulting arrangement with the Company under which he is
                  paid $5,000 per
                  month retroactive to June 2005. Effective June 1, 2006, the former
                  CFO agreed to
                  modify his consulting arrangement to provide his services for $100
                  per hour in
                  lieu of a fixed retainer and was granted options to acquire 25,000
                  of the
                  Company&#8217;s common stock at $.60 per share vesting quarterly over twenty
                  four
                  months. </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font></strong><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>STOCK-
                  BASED COMPENSATION</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                  Board
                  of Directors adopted and the stockholders approved the 2005 Equity
                  Incentive
                  Plan in June 2005. The plan was adopted to recognize the contributions
                  made by
                  the Company&#8217;s employees, officers, consultants, and directors, to provide those
                  individuals with additional incentive to devote themselves to its
                  future
                  success, and to improve the Company&#8217;s ability to attract, retain and motivate
                  individuals upon whom the Company&#8217;s growth and financial success depends. Under
                  the plan, stock options may be granted as approved by the Board
                  of Directors or
                  the Compensation Committee. There are 8,000,000 shares reserved
                  for grants of
                  options under the plan, of which 2,204,701 have been issued as
                  substitutions
                  with the exact same terms for the 2,204,701 previously issued options
                  outstanding as of April 30, 2005. Stock options vest pursuant to
                  individual
                  stock option agreements. No options granted under the plan are
                  exercisable after
                  the expiration of ten years (or less in the discretion of the Board
                  of Directors
                  or the Compensation Committee) from the</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">date
                  of
                  the grant. The plan will continue in effect until terminated or
                  amended by the
                  Board of Directors or until expiration of the plan on August 31,
                  2015.
</font></font></div>
              </div>
              <div>&#160;</div>
              <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                <div id="FTR">
                  <div id="GLFTR" style="WIDTH: 100%" align="left">
                  </div>
                </div>
                <div id="PN" style="PAGE-BREAK-AFTER: always">
                  <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">215</font></div>
                  <div style="WIDTH: 100%; TEXT-ALIGN: center">
                    <hr style="COLOR: black" noshade size="2">
                  </div>
                </div>
                <div id="HDR">
                  <div id="GLHDR" style="WIDTH: 100%" align="right">
                  </div>
                </div>
                <div>&#160;</div>
                <div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">FAS
                    123(R) requires the use of a valuation model to calculate the
                    fair value of each
                    stock-based award. Since May 1, 2003, the Company has used the
                    Black-Scholes
                    model to estimate the fair value of stock options granted. For
                    the valuation of
                    stock-based awards granted in the nine months ended January 31,
                    2007, the
                    Company used the following significant assumptions: </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Compensation
                    Amortization Period. All stock-based compensation is amortized
                    over the
                    requisite service period of the options, which is generally the
                    same as the
                    vesting period of the options. For all stock options, the Company
                    amortizes the
                    fair value on a straight-line basis over the service periods.
</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                    Term or Life. The expected term or life of stock options granted
                    or stock
                    purchase rights issued represents the expected weighted average
                    period of time
                    from the date of grant to the estimated date that the stock option
                    would be
                    fully exercised. To calculate the expected term, the Company
                    used the total of
                    one-half of the option term and one-half of the vesting period.
</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                    Volatility. Expected volatility is a measure of the amount by
                    which the
                    Company&#8217;s stock price is expected to fluctuate. The Company&#8217;s stock is currently
                    traded on the over-the -counter bulletin board under the trading
                    symbol &#8220;SMPM&#8221;.
                    The Company estimated the expected volatility of the stock options
                    at grant date
                    using the daily stock price of three comparable companies over
                    a recent
                    historical period equal to the Company&#8217;s expected term. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Risk-Free
                    Interest Rate. The risk-free interest rate used in determining
                    the fair value of
                    our stock-based awards is based on the implied yield on U.S.
                    Treasury
                    zero-coupon issues with remaining terms equivalent to the expected
                    term of our
                    stock-based awards. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                    Dividends. The Company has never paid any cash dividends on common
                    stock and
                    does not anticipate paying any cash dividends in the foreseeable
                    future.
                    Consequently, the Company used an expected dividend yield of
                    zero in valuation
                    models. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                    Forfeitures. As stock-based compensation expense recognized in
                    the Condensed
                    Consolidated Statements of Income for the nine months ended January
                    31, 2007 is
                    based on awards that are ultimately expected to vest, it should
                    be reduced for
                    estimated forfeitures. FAS 123(R) requires forfeitures to be
                    estimated at the
                    time of grant and revised, if necessary, in subsequent periods
                    if actual
                    forfeitures differ from those estimates. Pre-vesting forfeitures
                    were estimated
                    to be 0% for stock options granted for the nine months ended
                    January 31, 2007
                    based upon historical forfeitures. </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Summary
                    of Significant Assumptions of the Valuation of Stock-Based Awards.
                    The
                    weighted-average estimated fair value of stock options granted
                    during the nine
                    months ended January 31, 2007 and 2006 was $0.43 and $0.42 per
                    share,
                    respectively. The weighted-average estimated fair value of stock
                    options granted
                    during the three months ended January 31, 2007 and 2006 was $0
                    since no option
                    was granted in this quarter and $0.51 per share, respectively.
                    The fair value
                    for these stock options was estimated at the date of grant with
                    the following
                    weighted-average assumptions for the three and nine months ended
                    January 31,
                    2007 and 2006: </font><br></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                    <div align="left">
                      <table border="0" cellpadding="0" cellspacing="0" width="100%">

                          <tr>
                            <td align="left" valign="middle" width="25%">&#160;</td>
                            <td align="left" valign="middle" width="8%">&#160;</td>
                            <td align="left" valign="middle" width="8%">&#160;</td>
                            <td align="left" valign="middle" width="11%">&#160;</td>
                            <td align="left" valign="middle" width="9%">&#160;</td>
                          </tr>
                          <tr>
                            <td align="left" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                            </td>
                            <td colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Three
                                months ended</strong></font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>January
                                31,</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                            </td>
                            <td colspan="2" valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Nine
                                months ended</strong></font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>January
                                31,</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2007</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                            </td>
                            <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2007</strong></font></div>
                            </td>
                            <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>2006</strong></font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="25%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                                volatility </font></div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">n/a</font></div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">101.80%</font></div>
                            </td>
                            <td valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">80.17%
                                - 81.38%</font></div>
                            </td>
                            <td valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">101.80%</font></div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="25%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted-average
                                volatility </font></div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">n/a</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">101.80%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">80.41%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">78.48%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="25%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                                dividend yield </font></div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">n/a</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">0%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="25%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expected
                                term in years </font></div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">n/a</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6.0
                                to 7.0</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6.0</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">6.0
                                to 7.0</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                          </tr>
                          <tr>
                            <td align="left" valign="top" width="25%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Risk-free
                                interest rate </font></div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">n/a</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.5%
                                to 4.6%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.8%
                                to 5.1%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                            <td valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.1%
                                to 4.7%</font></div>
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;During
                      the
                      three months ended January 31, 2007 and 2006, the Company recognized
                      compensation costs related to stock options of $53,670 and
                      $64,817,
                      respectively. During the nine months period ended January 31,
                      2007 and 2006, the
                      Company recognized compensation costs related to stock options
                      of $178,046 and
                      $233,310, respectively. As of January 31, 2007, there was $497,215
                      of
                      unrecognized compensation cost related to stock options which
                      is expected to be
                      recognized over a weighted-average period of 5.72 years.
</font></div>
                  </div>
                </div>
                <div>&#160;</div>
                <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                  <div id="FTR">
                    <div id="GLFTR" style="WIDTH: 100%" align="left">
                    </div>
                  </div>
                  <div id="PN" style="PAGE-BREAK-AFTER: always">
                    <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">216</font></div>
                    <div style="WIDTH: 100%; TEXT-ALIGN: center">
                      <hr style="COLOR: black" noshade size="2">
                    </div>
                  </div>
                  <div id="HDR">
                    <div id="GLHDR" style="WIDTH: 100%" align="right">
                    </div>
                  </div>
                  <div>&#160;</div>
                  <div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;The
                      following
                      table summarizes activity for stock options issued to employees,
                      consultants and
                      directors for the nine month period ended January 31, 2007
                      (unaudited):
</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>
                      <div>
                        <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                              </td>
                              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Weighted</strong></font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Average</strong></font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exercise
                                  Price</strong></font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Weighted</strong></font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Average</strong></font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Remaining</strong></font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Contractual</strong></font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Term
                                  (Years)</strong></font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Aggregate</strong></font></div>
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Intrinsic
                                  Value</strong></font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                                  at April 30, 2006 </font></div>
                              </td>
                              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,825,249
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                              </td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.94</font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">7.9
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                              </td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-0-
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted</font></div>
                              </td>
                              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">122,500
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.60
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercised</font></div>
                              </td>
                              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited
                                  </font></div>
                              </td>
                              <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(339,417</font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.60
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expired</font></div>
                              </td>
                              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">&#8212;
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Outstanding
                                  at January 31, 2007 </font></div>
                              </td>
                              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,608,332</font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                              </td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.96</font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6.9
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                              </td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">512,646
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                            </tr>
                            <tr>
                              <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exercisable
                                  at January 31, 2007 </font></div>
                              </td>
                              <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,451,361
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                              </td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1.09</font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5.7
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                              </td>
                              <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: #ffffff solid">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-0-
                                  </font></div>
                              </td>
                              <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
                            </tr>

                        </table>
                      </div>
                      <div>&#160;</div>
                      <div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                          aggregate intrinsic value represents the difference between
                          the stock price on
                          the last day of the quarter, January 31, 2007, which was
                          $1.10, and the exercise
                          price multiplied by the number of options outstanding.
                          The aggregate intrinsic
                          values for stock options outstanding at April 30, 2006
                          and for stock options
                          exercisable at January 31, 2007 are negative, and are shown
                          as $-0- in the table
                          above.</font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                          following table summarizes information about non-vested
                          Company stock options as
                          of January 31, 2007 (unaudited): </font></div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                      </div>
                      <div><br>
                        <div align="center">
                          <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="100%">

                              <tr>
                                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" colspan="2" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              </tr>
                              <tr>
                                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                                </td>
                                <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
                                <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black double">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Shares</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                                </td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black double">&#160;</td>
                                <td align="left" colspan="2" valign="bottom" width="2%" style="BORDER-BOTTOM: black double">&#160;</td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black double">&#160;</td>
                                <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black double">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Weighted
                                    Average</strong></font></div>
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Grant
                                    Date Fair Value</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
                              </tr>
                              <tr>
                                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Non-vested
                                    at April 30, 2006 </font></div>
                                </td>
                                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,849,128
                                    </font></div>
                                </td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                                </td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.43</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              </tr>
                              <tr>
                                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Granted
                                    </font></div>
                                </td>
                                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">122,500
                                    </font></div>
                                </td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                                </td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.43</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              </tr>
                              <tr>
                                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Vested
                                    </font></div>
                                </td>
                                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(475,240</font></div>
                                </td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                                </td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.35</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              </tr>
                              <tr>
                                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Forfeited
                                    </font></div>
                                </td>
                                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(339,417</font></div>
                                </td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">)</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                                </td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                                </td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.15</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              </tr>
                              <tr>
                                <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Non-vested
                                    at January 31, 2007 </font></div>
                                </td>
                                <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,156,971
                                    </font></div>
                                </td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
                                </td>
                                <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.50</font></div>
                                </td>
                                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
                              </tr>

                          </table>
                        </div>
                        <div align="center">&#160;</div>
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br>
                          <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>7.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>RELATED
                            PARTY TRANSACTIONS </strong></font></div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Due
                            to Related Parties </strong></font></div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
                            Company recorded advisory service fees totaling $37,500
                            and $142,500 to SCO
                            Financial Group, LLC for the three and nine months ended
                            January 31, 2007,
                            respectively. The Company recorded board of director
                            fees of $12,000 and $56,000
                            for the three and nine months ended January 31, 2007.
                            Due to related parties at
                            January 31, 2007 consists of $75,000 payable to SCO,
                            and the remainder is
                            payable to members of the board of directors for their
                            fees and reimbursement of
                            expenses.</font></div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                          <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                            <div id="FTR">
                              <div id="GLFTR" style="WIDTH: 100%" align="left">
                              </div>
                            </div>
                            <div id="PN" style="PAGE-BREAK-AFTER: always">
                              <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">217</font></div>
                              <div style="WIDTH: 100%; TEXT-ALIGN: center">
                                <hr style="COLOR: black" noshade size="2">
                              </div>
                            </div>
                            <div id="HDR">
                              <div id="GLHDR" style="WIDTH: 100%" align="right">
                              </div>
                            </div>
                            <div>&#160;</div>
                          </div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>8.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27.05pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SUBSEQUENT
                            EVENTS </strong></font></div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
                            February 15, 2007, one of the Series A Preferred holders
                            converted one share of
                            Series A Preferred Shares together with all accrued and
                            unpaid dividends
                            attributable to such share into 18,069 shares.</font></div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
                            February15, 2007, the Company entered into a non-binding
                            letter of intent with
                            Access Pharmaceuticals, Inc. under which Access would
                            acquire all of the
                            outstanding equity securities of the Company for 1,500,000
                            shares of Access
                            common stock. Consummation of the transactions contemplated
                            by the non-binding
                            letter of intent is subject to the due </font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">diligence
                            of the parties, as well as the negotiation and execution
                            of one or more
                            definitive agreements and any closing conditions contained
                            therein.</font></div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">On
                              February 26, 2007, the Company issued, pursuant to
                              the terms of the financial
                              advisory agreement dated March 2005 between Bridge
                              Oncology and SCO Financial
                              Group LLC, which the Company assumed, an annual grant
                              of warrants to purchase
                              150,000 shares of the Company&#8217;s common stock at an exercise price of $0.01 per
                              share and is exercisable for 7 years. </font></div>
                          </div>
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        </div>
                      </div>
                    </div>
                  </div>
                  <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div id="FTR">
                      <div id="GLFTR" style="WIDTH: 100%" align="left">
                      </div>
                    </div>
                    <div id="PN" style="PAGE-BREAK-AFTER: always">
                      <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">218</font></div>
                      <div style="WIDTH: 100%; TEXT-ALIGN: center">
                        <hr style="COLOR: black" noshade size="2">
                      </div>
                    </div>
                    <div id="HDR">
                      <div id="GLHDR" style="WIDTH: 100%" align="right">
                      </div>
                    </div>
                    <div>&#160;</div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>UNAUDITED
      PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following unaudited pro forma condensed combined financial statements apply
      to
      the merger between Somanta, a Delaware corporation, and Access, a Delaware
      corporation, by which Somanta will become a wholly owned subsidiary of Access,
      and are based upon the historical condensed consolidated financial statements
      and notes thereto (as applicable) of Access and Somanta, which are incorporated
      by reference into this proxy statement/prospectus. The unaudited pro forma
      condensed combined balance sheet gives pro forma effect to the merger as if
      the
      merger had been completed on March&#160;31, 2007 and combines Access&#8217;s March 31,
      2007 audited consolidated balance sheet with Somanta&#8217;s&#160;January 31, 2007
      unaudited consolidated balance sheet. The unaudited pro forma condensed combined
      statement of operations gives pro forma effect to the merger as if it had been
      completed on January 1, 2006 and combines Access&#8217; audited&#160;consolidated
      statement of operations for the year ended December 31, 2006, with Somanta&#8217;s
      unaudited consolidated statement of operations for the twelve months ended
      January 31, 2007. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
      preferred and common stockholders are expected to receive 1,500,000 shares
      of
      Access common stock for Somanta common stock they own at the completion of
      the
      merger. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      pro
      forma adjustments are based upon available information and certain assumptions
      that Access believes are reasonable under the circumstances. A final
      determination of fair values relating to the merger, which cannot be made prior
      to the completion of the merger, may differ materially from the preliminary
      estimates and will include management&#8217;s final valuation of the fair value of
      assets acquired and liabilities assumed. This final valuation will be based
      on
      the actual net tangible assets of Somanta that exist as of the date of the
      completion of the merger. The final valuation may change the allocations of
      the
      purchase price, which could affect the fair value assigned to the assets and
      liabilities and could result in a change to the unaudited pro forma condensed
      combined financial statements data. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">These
      unaudited pro forma condensed combined financial statements should be read
      in
      conjunction with the historical consolidated financial statements and related
      notes contained in the annual, quarterly and other reports filed by Access
      and
      Somanta with the SEC. See &#8220;Additional Information&#8212;Where You Can Find More
      Information&#8221; beginning on page 232. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">219</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Pro
      Forma Condensed Combined Balance Sheet</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>As
      of March 31, 2007</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Unaudited)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Historical</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pro
                Forma</font></div>
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            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pro
                Forma</font></div>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">ASSETS</font></div>
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            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                assets</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Cash
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font></div>
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            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">129,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
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            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">488,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Short
                term investments, at cost</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,724,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,724,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Receivables</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">356,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">357,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Prepaid
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            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">357,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">13,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">370,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">143,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,939,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Property
                and equipment, net</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">207,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">18,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">225,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Patents
                net</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">836,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">836,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Licenses,
                net</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">12,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">12,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Other
                assets</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">25,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">30,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                assets</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,876,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">166,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,042,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accounts
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">455,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
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            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
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            <td width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">-&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">181,000&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">181,000&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Liquidated
                damages related to Series A</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">35,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(35,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(b</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrued
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            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">899,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">899,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Deferred
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            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">173,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">8,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">181,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Warrant
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            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,237,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,000,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">(a</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">)</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div>1,000,000</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">(5,237,000</td>
            <td align="left" valign="bottom" width="1%">)&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;
&#160;
(b</div>
            </td>
            <td align="left" valign="bottom" width="1%">)</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Current
                portion of long-term debt</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">net
                of discount</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">10,794,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">10,794,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                current liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">13,098,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">7,226,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">16,507,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Long-term
                debt</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,500,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">18,598,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">7,226,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">22,007,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stockholders&#8217;
                deficit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Preferred
                stock</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Common
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">35,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">15,000</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(a</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(b</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">50,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Additional
                paid-in capital</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">69,091,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,880,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,485,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,880,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(a</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(b</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">75,576,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notes
                receivable from stockholders</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,045,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,045,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Treasury
                stock, at cost</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
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            <td width="2%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">(81,799,000</td>
            <td align="left" valign="bottom" width="1%">)&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">(13,954,000</td>
            <td align="left" valign="bottom" width="1%">)</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">(7,500,000&#160;</td>
            <td align="left" valign="bottom" width="1%">)</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">(a</td>
            <td align="left" valign="bottom" width="1%">)</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="right" valign="bottom" width="9%">(91,542,000</td>
            <td align="left" valign="bottom" width="1%">)</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">
              </div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,788,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">13,954,000</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(455,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(b</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(b</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(c</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
              <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: 4px">
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                stockholders&#8217; deficit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(13,722,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,060,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(16,965,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                liabilities and stockholders&#8217;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">deficit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,876,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -2.5pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">166,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font></div>
            </td>
            <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: -5.4pt;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,042,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">See
      accompanying Notes to Pro Forma Condensed Combined Balance Sheet</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">220</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Notes
      to Pro Forma Condensed Combined Balance Sheet</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
      1:
      The above statement gives effect to the following pro forma adjustments
      necessary to reflect the merger of Access and Somanta, as if the transaction
      had
      occurred March 31, 2007. Somanta statements used were January 31,
      2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
                record the exchange, for accounting purposes, by Somanta shareholders
                of
                their common stock (valued at $7,500,000) for 1,500,000 shares of
                Access
                (or 1,500,000 shares valued at the estimated stock price of $5.00
                per
                share) and record $1,000,000 in new warrant liability. The value
                placed on
                the shares was determined based on negotiation between the companies
                of
                the amount of Access shares to issue to Somanta shareholders and
                the
                estimated stock price of $5.00 per share. The excess purchase price
                over
                the fair value of Somanta's assets acquired is being charged to
                deficit.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">b)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
                eliminate the shareholders equity section and warrant liabilities
                of
                Somanta in connection with the merger and credit the net equity to
                combined deficit.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">c)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Accrual
                of $455,000 of estimated legal, accounting and other professional
                fees
                relating to the merger.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">After
      the
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      issued.</font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">221</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Pro
      Forma Condensed Combined Statement of Operations</strong></font></div>
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      the Three Months Ended March 31, 2007</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Unaudited)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Historical</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" id="ftable" width="98%">

          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pro
                Forma</font></div>
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
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          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Revenue</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Research
                and development</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">413,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">214,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">627,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">General
                and administrative</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,139,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">450,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,589,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
                and amortization</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">75,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">75,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,627,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">664,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,291,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from operations</font></div>
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            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,627,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(664,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,291,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and miscellaneous income</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">35,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">37,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and other expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,535,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,535,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
                in fair value of warrant</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,775,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,775,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Currency
                translation loss</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,500,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,774,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,274,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,127,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,438,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,565,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Basic
                and diluted loss per</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">common
                share</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1.17</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(0.25</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1.50</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="55%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted
                average basic and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">diluted
                common shares</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">outstanding</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,535,197</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,274,534</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,035,197</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notes
      to
      Pro Forma Condensed Combined Statement of Operations</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
      1:
      The above statement gives effect to the merger of Access and Somanta, as if
      the
      merger had occurred on January 1, 2006. Somanta statements used were for the
      three months ended January 31, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
      2:
      The pro forma combined-weighted average number of common outstanding shares
      is
      based on the weighted average number of shares of common stock of Access during
      the period plus those shares to be issued in conjunction with the merger. A
      reconciliation between Access' historical weighted average shares outstanding
      and pro forma weighted average shares outstanding and pro forma weighted average
      shares outstanding is as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="left">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="58%">

          <tr bgcolor="white">
            <td width="45%">&#160;Historical&#160;<font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="3%">&#160;</td>
            <td width="10%">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3,535,197</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="45%" style="BORDER-BOTTOM: #ffffff solid">&#160;Somanta
              equivalent shares giving effect to the merger</td>
            <td width="3%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="10%" style="BORDER-BOTTOM: black 2px solid">&#160;1,500,000</td>
          </tr>
          <tr bgcolor="white">
            <td width="45%" style="BORDER-BOTTOM: #ffffff solid">&#160;Total</td>
            <td width="3%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="10%" style="BORDER-BOTTOM: black double">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">5,035,197</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">222</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Pro
      Forma Condensed Combined Statement of Operations</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>For
      the Twelve Months Ended December 31, 2006</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Unaudited)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Historical</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta</font></div>
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            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pro
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            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Revenue</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
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            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Research
                and development</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,053,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">1,362,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,415,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">General
                and administrative</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">2,813,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,392,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">6,205,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Depreciation
                and amortization</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">309,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">309,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Total
                expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,175,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">4,754,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">9,929,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from operations</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(5,175,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,753,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
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            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and miscellaneous income</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">294,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">43,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">337,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Interest
                and other expenses</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,436,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(7,436,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Liquidated
                damages</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(35,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(35,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Change
                in fair value of warrant</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">liabilities</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(1,107,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,243,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3,350,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Currency
                translation loss</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(8,249,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,239,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(10,488,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss before discontinued</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">operations
                and before tax benefit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(13,424,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,992,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(20,416,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Income
                tax benefit</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">173,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(2,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">171,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from continuing operations</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(13,251,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,994,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(20,245,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discontinued
                operations, net of</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">taxes
                of $173,000</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">377,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">377,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(12,874,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(6,994,000</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(19,868,000</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" colspan="5" valign="bottom" width="73%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Basic
                and diluted loss per common share</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Loss
                from continuing operations</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">allocable
                to common </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">stockholders</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3.76</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(0.49</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div>&#160;</div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(4.02</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
                </div><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Discontinued
                operations</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.11</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">-</font><font id="TAB2" style="MARGIN-LEFT: 0px; COLOR: black; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; LETTER-SPACING: 3.35pt;"></font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">0.07</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Net
                loss allocable to common</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stockholders</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3.65</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(0.49</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">$</font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font></div>
            </td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">(3.95</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: 4px">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: 4px">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="57%" style="BORDER-BOTTOM: #ffffff solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Weighted
                average basic and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">diluted
                common shares</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">outstanding</font></div>
            </td>
            <td width="2%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">3,531,934</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">14,274,534</font></div>
            </td>
            <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
            <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black double">
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><font id="TAB1" style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px;"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman;">5,031,934</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black double">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notes
      to
      Pro Forma Condensed Combined Statement of Operations</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
      1:
      The above statement gives effect to the merger of Access and Somanta, as if
      the
      merger had occurred on January 1, 2006. Somanta statements used were for the
      twelve months ended January 31, 2007.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
      2:
      The pro forma combined-weighted average number of common outstanding shares
      is
      based on the weighted average number of shares of common stock of Access during
      the period plus those shares to be issued in conjunction with the merger. A
      reconciliation between Access' historical weighted average shares outstanding
      and pro forma weighted average shares outstanding and pro forma weighted average
      shares outstanding is as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="58%">

          <tr bgcolor="white">
            <td width="45%">Historical&#160;<font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font></td>
            <td width="3%">&#160;</td>
            <td width="10%">&#160;&#160;3,531,934</td>
          </tr>
          <tr bgcolor="white">
            <td width="45%" style="BORDER-BOTTOM: #ffffff solid">&#160;Somanta
              equivalent shares giving effect to the merger</td>
            <td width="3%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="10%" style="BORDER-BOTTOM: black 2px solid">&#160;1,500,000</td>
          </tr>
          <tr bgcolor="white">
            <td width="45%" style="BORDER-BOTTOM: #ffffff solid">&#160;Total</td>
            <td width="3%" style="BORDER-BOTTOM: #ffffff solid">&#160;</td>
            <td width="10%" style="BORDER-BOTTOM: #ffffff solid">&#160;5,031,934</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">223</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>COMPARISON
      OF STOCKHOLDER RIGHTS AND CORPORATE GOVERNANCE MATTERS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Both
      Access and Somanta are incorporated under the laws of the State of Delaware
      and,
      accordingly, the rights of the stockholders of each are governed by the DGCL.
      Before the completion of the merger, the rights of Somanta stockholders are
      also
      governed by the Somanta certificate of incorporation, and the Somanta bylaws.
      Upon completion of the merger, Somanta stockholders will receive Access common
      stock in exchange for their shares of Somanta common stock. As a result, upon
      completion of the merger, the rights of Somanta stockholders who become Access
      stockholders in the merger will be governed by the DGCL, the Access certificate
      of incorporation, and the Access bylaws.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      following is a summary of material differences between the current rights of
      Access stockholders and the current rights of Somanta stockholders. While we
      believe that this summary covers the material differences between the two,
      this
      summary may not contain all of the information that is important to you. This
      summary is not intended to be a complete discussion of the respective rights
      of
      Access and Somanta stockholders and it is qualified in its entirety by reference
      to the various documents of Access and Somanta to which we refer in this
      summary. We urge you to carefully read this entire proxy statement/prospectus,
      the relevant provisions of the DGCL and the other documents to which we refer
      in
      this proxy statement/prospectus for a more complete understanding of the
      differences between being an Access stockholder and being a Somanta stockholder.
      Access and Somanta have filed with the SEC their respective documents referenced
      in this summary of stockholder rights and will send copies of these documents
      to
      you, without charge, upon your request. See &#8220;Additional Information&#8212;Where You
      Can Find More Information&#8221; beginning on page 231. </font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: windowtext 0.5pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 0.5pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 0.5pt solid; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 0.5pt solid">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Provision</strong></div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: windowtext 0.5pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 0.5pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 0.5pt solid; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Access
                Common Stock and</strong></div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Preferred
                Stock</strong></div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: windowtext 0.5pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 0.5pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 0.5pt solid; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Somanta
                Common Stock and Preferred
                Stock</strong></div>
            </td>
          </tr>
          <tr>
            <td colspan="3" valign="top" width="631" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 473.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="3" valign="top" width="631" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 473.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">ELECTIONS;
                VOTING PROCEDURAL MATTERS</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Authorized Capital Stock</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; certificate of incorporation
                authorizes the issuance of up to 102,000,000 shares, each with a
                par value
                of $0.01 per share. Of the total authorized shares, 100,000,000 shares
                shall be common stock and 2,000,000 shares shall be preferred
                stock.</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s certificate of incorporation
                authorizes the issuance of up to 120,000,000 shares, each with a
                par value
                of $0.001 per share. Of the total authorized shares, 100,000,000
                shares
                shall be common stock and 20,000,000 shares shall be preferred
                stock.</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Number of Directors</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; bylaws provide that the board of
                directors shall consist of between five (5) and fifteen (15) directors,
                and unless otherwise provided in the certificate of incorporation,
                the
                board of directors shall have the exclusive power to establish the
                size of
                the board of directors.&#160; Currently there are 12 members on the board
                of Access.&#160; </div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s bylaws provide that the board
                of directors shall have the exclusive power to establish the size
                of the
                board of directors.&#160; Currently there are five (5) members on the
                board of Somanta.&#160; </div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Stockholder Nominations and
                Proposals</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; most recent proxy statement dated
                April 16, 2007, provides that the 2008 annual meeting of stockholders
                is
                expected to be held on or about May 15, 2008. The Access board will
                make
                provisions for the presentation of proposals submitted by eligible
                stockholders who have complied with the relevant rules and regulations
                of
                the SEC. Proposals must be received by Access no later than December
                14,
                2007 to be considered for inclusion on the Access proxy statement
                and form
                of proxy relating to that meeting, and no later than March 4, 2008
                for all
                other proposals.&#160; </div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s bylaws provide that, in order
                for a stockholder to make a director nomination or propose business
                at an
                annual meeting of the stockholders, the stockholder must give timely
                written notice to Somanta&#8217;s secretary not later than the close of business
                on the 90th day nor earlier than the 120th day prior to the first
                anniversary of the preceding year&#8217;s annual meeting (with certain
                adjustments if the date of the annual meeting is advanced by more
                than 30
                days or delayed by more than 30 days from the first anniversary of
                the
                preceding year&#8217;s annual meeting). </div>
            </td>
          </tr>

      </table>
    </div>
    <div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">224</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Classified Board of Directors</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Except as otherwise provided in Access&#8217;
                bylaws or in its certificate of incorporation, the board of directors
                shall be divided into three (3) classes as nearly equal in number
                as
                possible.&#160; Each director will be elected at the appropriate annual
                meeting and will hold officer for a term of three (3) years and until
                his
                successor is elected and qualified or until his earlier resignation
                or
                removal.&#160; </div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s certificate of incorporation
                and bylaws do not provide for the division of the board of directors
                into
                classes.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Removal of Directors</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; certificate of incorporation
                provides that any director of the entire board of directors may be
                removed
                from office at any time, but only for cause and only upon the affirmative
                vote of the holders of at least 66 2/3% of the shares entitled to
                vote in
                the election of directors.&#160; </div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Under Somanta&#8217;s bylaws, subject to the
                certificate of incorporation, the board of directors or any individual
                director may be removed from office at any time without cause by
                the
                affirmative vote of the holders of at least a majority of the outstanding
                shares entitled to vote on such removal.</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Special Meetings of Stockholders</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; bylaws provide that a special
                meeting of the board of directors or any committee designated by
                the board
                may be called at any time by the chairman of the board, if any, by
                the
                president or by a majority of the members of the board of directors
                or any
                such committee as the case may be.&#160; </div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s bylaws provide that a special
                meeting of the stockholders may be called by the board of directors
                pursuant to a resolution adopted by a majority of the total number
                of
                authorized directors.&#160; </div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Cumulative Voting</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; bylaws provide that every
                stockholder entitled to vote for the election of directors shall
                have the
                right to vote the number of shares owned by him for as many persons
                as
                there are directors to be elected and cumulative voting in the election
                of
                such directors shall be permitted.&#160; </div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s bylaws provide that no person
                entitled to vote at an election for directors may cumulate their
                votes,
                unless at the time of the election, Somanta is subject to Section
                2115(b)
                of the CGCL.</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Vacancies</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; bylaws provide that, any vacancy
                or newly created directorships on the board of directors will be
                filled by
                the affirmative vote of a majority of the directors in office, although
                less than a quorum.</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s bylaws provide that, unless
                otherwise provided in the certificate of incorporation, and subject
                to the
                rights of the holders of any series of preferred stock, any vacancy
                or
                newly created directorships on the board of directors will be filled
                by
                the affirmative vote of a majority of the directors in office even
                if less
                than a quorum. </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">225</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Voting Stock</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Under Access&#8217; certificate of
                incorporation, each stockholder of common stock shall have one vote
                for
                each share of stock standing in his name on the books of Access and
                entitled to vote.&#160; </div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">Under Access&#8217; certificate of designation,
                a holder of Access Series A preferred stock (none of which is currently
                outstanding) would be entitled to 100 votes, for each share of Series
                A
                preferred stock held, on all matters submitted to a vote of the
                stockholders of Access, voting together with the common as a single
                class.</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">The number of shares a holder of
                Series A
                preferred stock would be entitled to vote is subject to adjustment
                for any
                dividends on common stock which are paid in common stock or combination
                or
                consolidation of the outstanding shares of common stock by
                reclassification or otherwise into a greater or lesser number of
                shares of
                common stock.</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Under Somanta&#8217;s certificate of
                incorporation the holders of common stock have the right to one vote
                per
                share of common stock.</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">Under Somanta&#8217;s certificate of
                designations, each holder of outstanding Series A preferred stock
                shall be
                entitled to cast the number of votes equal to the number of whole
                shares
                of common stock into which the Series A preferred stock is
                convertible.&#160; Except as provided in certain provisions in the
                certificate of designation with respect to the Series A preferred
                stock,
                the Series A preferred stock shall vote together with the holders
                of
                common stock as single class.</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Stockholder Action by Written
                Consent</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access bylaws provide that, any action
                required to be taken at a meeting of stockholders, or any action
                which may
                be taken at a meeting of stockholders, may be taken without a meeting,
                without prior notice and without a vote, if a consent in writing
                setting
                for the action so taken, shall be signed by the holders of outstanding
                stock having not less than the minimum number of votes that would
                be
                necessary to authorize or take such action at a meeting at which
                all
                shares entitled to vote thereon were present and voted.</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s bylaws provide that, unless
                otherwise provided in the certificate of incorporation, any action
                to be
                taken at any annual meeting of the stockholders, may be taken without
                a
                meeting, without prior notice and without a vote, if a consent in
                writing,
                setting forth the action, is signed by the holders of outstanding
                stock
                having not less that the minimum number of votes that would be necessary
                to take such action at a meeting at which all shares entitled to
                vote were
                present and voted.&#160; Prompt notice of the taking of the corporate
                action without a meeting by less than unanimous consent will be given
                to
                those stockholders who have not consented in writing.&#160;
                </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Notice of Meetings</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Under Access bylaws, written notice
                of
                each stockholder meeting must include the date, time and place of
                such
                meeting.&#160; Notice will be given not less than 10 nor more than 60 days
                prior to the date of the meeting to each stockholder entitled to
                vote at
                such meeting.&#160; </div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Under Somanta&#8217;s bylaws, written notice of
                each stockholder meeting must include the date, time and place of
                such
                meeting.&#160; Notice will be given not less than 10 nor more than 60 days
                prior to the date of the meeting to each stockholder entitled to
                vote at
                such meeting.&#160; In the case of a special meeting the purpose or
                purposes of the meeting shall be provided.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">226</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Stockholders Rights Plan</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access is a party to a&#160; stockholder
                rights agreement under which holders of Access common stock as of
                a
                certain date are entitled to the right to purchase Access Series A
                preferred stock. The right will become exercisable only if a person
                or
                group (a) acquires 15% (20% in the case of Heartland Advisors, Inc,
                or
                Oracle Partners LP) or more of Access&#8217; common stock or (b) announces a
                tender offer that would result in ownership of 15% (20% in the case
                of
                Heartland Advisors, Inc, or Oracle Partners LP) or more of the common
                stock. Each right may entitle its holder (other than the 15% person
                or
                group) to receive upon exercise of the right, a one one-hundredth
                of a
                share of Series A preferred Stock. Holders of such Series A preferred
                stock shall be entitled to certain rights including a minimum quarterly
                dividend payments, voting rights, and consideration upon a change
                in
                control of Access.</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
    </div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Conversion Rights and Protective
                Provisions</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Under Access&#8217; certificate of designation,
                each share of Series A preferred stock (none of which is currently
                outstanding) would be convertible into 100 shares of Access common
                stock
                subject to adjustment for any dividends on common stock which are
                paid in
                common stock or combination or consolidation of the outstanding shares
                of
                common stock by reclassification or otherwise into a greater or lesser
                number of shares of common stock.</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Under Somanta&#8217;s certificate of
                designations, each share of Series A preferred stock is convertible,
                at
                the option of the holder thereof at any time and shall convert at
                Somanta&#8217;s election upon a Conversion Triggering Event (as defined in the
                certificate of designation) and shall automatically convert upon
                a
                Qualified Change in Control (as defined in the certificate of
                designation). </div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s certificate of designations
                provides that, upon certain terms and conditions, the holders of
                Somanta
                Series A preferred stock shall have a right to participate with respect
                to
                the issuance or possible issuance by Somanta of any future equity
                or
                equity linked securities.</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s certificate of designations
                provides that upon a change in control (as defined in the certificate
                of
                designations) the successor corporation shall expressly assume the
                due and
                punctual observance and performance of each and every covenant and
                condition contained in the certificate of designations.</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">In accordance with the certificate
                of
                designations of Somanta&#8217;s Series A preferred stock, holders of a majority
                of the Series A preferred stock of Somanta have acknowledged and
                agreed
                that if the stockholders of Somanta approve the merger agreement
                and the
                transactions contemplated thereby, then each share of preferred stock
                will
                be exchanged for common stock of Access and all the rights, preferences
                and privileges associated with such Series A preferred stock will
                cease to
                exist as of the closing of the merger. </div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">227</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td colspan="3" valign="top" width="631" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 473.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">INDEMNIFICATION
                OF OFFEICERS AND DIRECTORS AND ADVANCEMENT OF
                EXPENSES; LIMITATION ON PERSONAL LIABILITY</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Indemnification</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; certificate of incorporation
                provides that Access shall indemnify all persons to the extent and
                in the
                manner permitted by the provisions of the DGCL, subject to any permissible
                expansion or limitation of such indemnification as may be set forth
                in the
                bylaws or any stockholder or director resolution or by contract.&#160;
                Additionally, no director of Access shall be liable to Access or
                its
                stockholders for monetary damages for a breach of fiduciary duty
                as a
                director, except for liability for: (i) breach of the director&#8217;s duty of
                loyalty, (ii) acts or omissions not in good faith or which involve
                intentional misconduct, (iii) unlawful payment of dividends or unlawful
                repurchases or redemptions, or (iv) any transaction from which the
                directors derived an improper personal benefit.&#160; </div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s bylaws provide that Somanta
                shall indemnify any director or officer and shall have the power
                to
                indemnify&#160; any employee or agent, to the fullest extent not
                prohibited by the DGCL or any other applicable law.&#160; Somanta shall
                not be required to indemnify any director or officer in connection
                with
                any proceeding initiated by such person unless (i) such indemnification
                is
                expressly required by law, (ii) the proceeding was authorized by
                the board
                of directors, (iii) such indemnification is provided by Somanta,
                in its
                sole discretion, pursuant to the powers vested in Somanta under DGCL
                or
                other applicable law, and (iv) such indemnification is order by any
                court
                of competent jurisdiction. </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Advancement of Expenses</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s bylaws provide that Somanta
                shall advance expenses to any person who was or is made a party or
                is
                threatened to be made a party to or is otherwise involved in any
                action,
                suit or proceeding, whether civil, criminal, administrative or
                investigative, by reason of being or having been a director or officer,
                of
                Somanta, or is or was serving at the request of Somanta as a director
                or
                officer of another corporation, partnership, joint venture, trust
                or other
                enterprise, provided, however, that if the DGCL so requires, such
                advancement of expenses shall be made only upon delivery to Somanta
                of any
                undertaking by such person to repay all amounts so advanced if there
                is a
                final judgment that such person is not entitled to be indemnified
                for such
                expenses.&#160; </div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">228</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td colspan="3" valign="top" width="631" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 473.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">DIVIDENDS</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Declaration and Payment of
                Dividends</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; bylaws provide that dividends
                shall be declared and paid out of any surplus or net profits for
                the
                fiscal year in which the dividend is declared, and/or the preceding
                fiscal
                year as often and at such times as the board of directors may
                determine.&#160; If the capital of Access is diminished by depreciation of
                property, or by losses, or otherwise, to an amount less than the
                aggregate
                amount of the capital represented by the issued and outstanding stock;
                the
                board of directors shall not declare and pay out of net profits any
                dividends upon any shares of its capital stock until the deficiency
                in the
                amount of capital represented by issued and outstanding stock shall
                have
                been repaired.&#160; </div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">While dividends will accrue on
                outstanding shares of preferred stock, subject to the provisions
                of
                Access&#8217; certificate of designation, Access shall be under no obligation to
                pay such accruing dividends, provided, however, that Access shall
                not
                declare, pay or set aside any dividends on any other shares of capital
                stock of Access unless the holders of preferred stock then outstanding
                shall first receive the dividend to which they are entitled pursuant
                to
                the terms of Access&#8217; certificate of designation.&#160; </div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s certificate of incorporation
                provides that when determined by the board of directors and subject
                to the
                preferential dividend rights of the preferred stock, dividends may
                be paid
                on the common stock from funds lawfully available for such purpose.
                &#160;While dividends will accrue on outstanding shares of preferred
                stock, subject to the provisions of Somanta&#8217;s certificate of designation,
                Somanta shall be under no obligation to pay such accruing dividends,
                provided, however, that Somanta shall not declare, pay or set aside
                any
                dividends on any other shares of capital stock of Somanta unless
                the
                holders of preferred stock then outstanding shall first receive the
                dividend to which they are entitled pursuant to the terms of Somanta&#8217;s
                certificate of designation.&#160; </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">229</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td colspan="3" valign="top" width="631" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 473.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">AMENDMENTS
                TO ARTICLES OF INCORPORATION, CERTIFICATE OF
                DESIGNATION OR BYLAWS</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table border="1" cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-alt: solid windowtext .5pt">

          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="160" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 119.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">General Provisions</div>
            </td>
            <td valign="top" width="232" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 173.7pt; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; certificate of incorporation
                provides that Access reserves the right to amend or repeal any provision
                of the certificate of incorporation.&#160; Certain provision of the
                certificate of incorporation may not be altered or amended without
                the
                affirmative vote of the holders of at least 66-2/3% of the shares
                entitled
                to vote. </div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">Access&#8217; bylaws provide that subject to
                repeal or change by action of the stockholders in accordance with
                the
                certificate of incorporation, the board of directors may amend, supplement
                or repeal the bylaws.</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
            </td>
            <td valign="top" width="240" bgcolor="transparent" style="BORDER-RIGHT: #d4d0c8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #d4d0c8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 2.5in; PADDING-TOP: 0in; BORDER-BOTTOM: #d4d0c8">
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s certificate of incorporation
                provides that Somanta reserves the right to amend or repeal any provision
                of the certificate of incorporation.&#160; Certain provision of the
                certificate of incorporation may not be altered or amended without
                the
                affirmative vote of the holders of at least 66-2/3% of the voting
                power of
                all the then outstanding&#160; shares of capital stock of Somanta entitled
                to vote, voting together as a single class.</div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s certificate of designation
                provides that the certificate may be amended, altered or repealed
                upon the
                affirmative vote of the holders of at least a majority of the shares
                of
                preferred stock outstanding.&#160; </div>
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">Somanta&#8217;s certificate of incorporation
                provides that Somanta&#8217;s board of directors is expressly empowered to
                adopt, amend or repeal the bylaws.&#160; The stockholders shall also have
                the power to adopt, amend or repeal the bylaws.&#160; Any adoption,
                amendment or repeal of the bylaws by the stockholders shall require,
                in
                addition to any vote of the holders of any class of series of stock
                of
                Somanta required to vote, the affirmative vote of 66-2/3% of the
                voting
                power of all the then outstanding&#160; shares of capital stock of Somanta
                entitled to vote, voting together as a single class.&#160;
                </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">230</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ADDITIONAL
      INFORMATION </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_109"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Stockholder
      Proposals </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
      to Rule 14a-8 under the Exchange Act, stockholders may present proposals for
      inclusion in a company&#8217;s proxy statement and for consideration at the next
      annual meeting of its stockholders by submitting their proposals to the company
      in a timely manner. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><em>Somanta
      </em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      the
      merger is not completed or if it would otherwise be required to do so under
      applicable law, Somanta will hold its 2007 annual meeting of stockholders.
      For
      any proposal to be considered for inclusion in the Somanta proxy statement
      and
      form of proxy for submission to the Somanta stockholders at the Somanta 2007
      annual meeting, it must comply with the requirements of Rule 14a-8 under the
      Exchange Act and be submitted in writing by notice delivered or mailed by
      first-class United States mail, postage prepaid, to Somanta Pharmaceuticals,
      Inc., 19200 Von Karman Avenue, Suite 400, Irvine, California 92612, Attention:
      Secretary. The submission of a stockholder proposal does not guarantee that
      it
      will be included in the Somanta 2007 proxy statement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with Somanta&#8217;s bylaws and SEC rule 14a-8, in order to be properly
      brought before the Somanta 2007 annual meeting, a stockholder&#8217;s notice of the
      matter the stockholder wishes to present, or the person or persons the
      stockholder wishes to nominate as a director, must be delivered to Somanta&#8217;s
      secretary at Somanta&#8217;s principal executive offices not less than 90 nor more
      than 120 days before Somanta&#8217;s 2007 annual meeting. As a result, any notice
      given by a stockholder pursuant to these provisions must be received no earlier
      than May&#160;9, 2007 and no later than June&#160;8, 2007, unless Somanta&#8217;s 2007
      annual meeting date is more than 30 days before or after September&#160;6, 2007.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">If
      Somanta&#8217;s 2007 annual meeting date is advanced or delayed by more than 30 days
      from September 6, 2007, then proposals must be received not less than 90 nor
      more than 120 before Somanta&#8217;s 2007 annual meeting or the 10</font><font style="DISPLAY: inline; FONT-SIZE: 6pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif;"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">
      day following the date on which the meeting date is publicly announced.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">To
      be in
      proper form, a stockholder&#8217;s notice must include the specified information
      concerning the proposal or nominee as described in Somanta&#8217;s bylaws. A
      stockholder who wishes to submit a proposal or nomination is encouraged to
      seek
      independent counsel about Somanta&#8217;s bylaws and SEC requirements. Somanta will
      not consider any proposal or nomination that does not meet the bylaw
      requirements and the SEC&#8217;s requirements for submitting a proposal or nomination.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Notices
      of intention to present proposals at Somanta&#8217;s 2007 annual meeting should be
      addressed to Somanta Pharmaceuticals, Inc., Attention: Secretary, 19200 Von
      Karman Avenue, Suite 400, Irvine, California 92612. Somanta reserve the right
      to
      reject, rule out of order, or take other appropriate action with respect to
      any
      proposal that does not comply with these and other applicable requirements.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_110"/><a name="toc46264_111"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Experts
      </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      consolidated financial statements incorporated in this proxy
      statement/prospectus by reference to the Access Annual Report on Form 10-KSB
      for
      the year ended December 31, 2006 have been so incorporated in reliance on the
      report of Whitley Penn LLP, an independent registered public accounting firm,
      given on the authority of said firm as experts in auditing and accounting.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        consolidated financial statements as of December 31, 2005 and for each of
        the
        two years in the period ended December 31, 2005 included in this registration
        statement have been audited by Grant Thornton LLP, independent registered
        public
        accountants, as indicated in their report with respect thereto, and are included
        herein in reliance upon the authority of said firm as experts in accounting
        and
        auditing. </font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      consolidated financial statements of Somanta as of April 30, 2007 and 2006,
      and
      for each of the years in the three-year period ended April 30, 2007 have been
      incorporated by reference herein and in the registration statement in reliance
      upon the reports of Stonefield Josephson, Inc., independent registered public
      accounting firm, incorporated by reference herein, and upon the authority of
      said firm as experts in accounting and auditing. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">None
      of
      the independent public registered accounting firms named above have any interest
      in the merger.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">231</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Householding
        of Proxy Materials</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
        SEC
        has adopted rules that permit companies and intermediaries (e.g. brokers)
        to
        satisfy the delivery requirements for proxy statements and annual reports
        to two
        or more stockholders sharing the same address by delivering a single proxy
        statement addressed to those stockholders. This process, which is commonly
        referred to as "householding," potentially means extra convenience for
        stockholders and cost savings for companies.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">This
        year, a number of brokers with account holders who are our stockholders will
        be
        "householding" our proxy materials. A single proxy statement will be delivered
        to multiple stockholders sharing an address unless contrary instructions
        have
        been received from affected stockholders. Once you have received notice from
        your broker that they will be "householding" communications to your address,
        "householding" will continue until you are notified otherwise or until you
        revoke your consent. If, at any time, you no longer wish to participate in
        "householding" and would prefer to receive a separate proxy statement and
        annual
        report, please notify your broker, and direct your written request to Somanta
        Pharmaceuticals, Inc., 19200 Von Karman Avenue, Suite 400, Irvine, California
        or
        call us at (949) 477-8090. Stockholders who currently receive multiple copies
        of
        the proxy statement at their address and would like to request "householding"
        of
        their communications should contact their broker.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a name="toc46264_112"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Where
      You Can Find More Information </strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      and Somanta file annual, quarterly and current reports, proxy statements and
      other information with the SEC. You may read and copy these reports, statements
      or other information filed by either Access or Somanta at the SEC&#8217;s Public
      Reference Room at 450 Fifth Street, N.W., Washington, D.C. 20549. Please call
      the SEC at 1-800-SEC-0330 for further information on the public reference rooms.
      The SEC filings of Access and Somanta are also available to the public from
      commercial document retrieval services and at the website maintained by the
      SEC
      at www.sec.gov. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has filed a registration statement on Form S-4 to register with the SEC the
      Access common stock to be issued to Somanta stockholders in the merger. This
      proxy statement/prospectus is a part of that registration statement and
      constitutes a prospectus of Access, in addition to being a proxy statement
      of
      Somanta for Somanta&#8217;s special meeting. The registration statement, including the
      attached annexes, exhibits and schedules, contains additional relevant
      information about Access, Access common stock and Somanta. As allowed by SEC
      rules, this proxy statement/prospectus does not contain all the information
      you
      can find in the registration statement or the exhibits to the registration
      statement. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      and Somanta incorporate by reference the agreement and plan of merger attached
      to this proxy statement/prospectus as Annex A. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      has supplied all information contained in or incorporated by reference into
      this
      proxy statement/prospectus relating to Access and Somanta has supplied all
      information contained in or incorporated by reference into this proxy
      statement/prospectus relating to Somanta. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">You
      may
      obtain copies of the information relating to Access, without charge, by sending
      an e-mail to akc@accesspharma.com or by calling (214) 905-5100. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">You
      may
      obtain copies of the information relating to Somanta, without charge, by sending
      an e-mail to&#160;t.bruggeman@somanta.com or by calling (949) 477-8090.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>IN
      ORDER FOR YOU TO RECEIVE TIMELY DELIVERY OF THE DOCUMENTS IN ADVANCE OF THE
      SOMANTA SPECIAL MEETING, ACCESS OR SOMANTA, AS APPLICABLE, SHOULD RECEIVE YOUR
      REQUEST NO LATER THAN _____, 2007. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We
      have
      not authorized anyone to give any information or make any representation about
      the merger or the companies that is different from, or in addition to, that
      contained in this proxy statement/prospectus or in any of the materials that
      are
      incorporated into this proxy statement/prospectus. Therefore, if anyone does
      give you information of this sort, you should not rely on it. If you are in
      a
      jurisdiction where offers to exchange or sell, or solicitations of offers to
      exchange or purchase, the securities offered by this proxy statement/prospectus
      or the solicitation of proxies is unlawful, or if you are a person to whom
      it is
      unlawful to direct these types of activities, then the offer presented in this
      proxy statement/prospectus does not extend to you. The information contained
      in
      this proxy statement/prospectus is accurate only as of the date of this document
      unless the information specifically indicates that another date applies.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">232</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Annex
      A </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>AGREEMENT
      AND PLAN OF MERGER </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>DATED
      AS OF April 18, 2007</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>BY
      AND AMONG </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ACCESS
      PHARMACEUTICALS, INC.,</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SOMANTA
      ACQUISITION CORPORATION,</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SOMANTA
      PHARMACEUTICALS, INC.,</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SOMANTA
      INCORPORATED,</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>AND</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SOMANTA
      LIMITED</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
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            <div style="WIDTH: 100%; TEXT-ALIGN: center">
            </div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
            </div>
            <div>
              <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
              <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
            </div>
            <div>
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        </div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><u>TABLE
          OF CONTENTS</u></div>
        <div>&#160;</div>
        <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style=
"LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<u>Page</u></div>
        <div>ARTICLE I.<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;THE
          MERGER................................................................................
          2</div>
        <div>&#160;</div>
      </div>
      <div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">1.01.... The
          Merger..........................................................................................
          2</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">1.02....
          Closing................................................................................................
          2</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">1.03.... Effective Time of the
          Merger.............................................................. 2</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">1.04.... Effects of the
          Merger..........................................................................
          2</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">1.05.... Certificate of Incorporation;
          By-Laws; Purposes............................... 2</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">1.06....
          Directors.............................................................................................
          3</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">1.07....
          Officers...............................................................................................
          3</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 0pt; TEXT-INDENT: 0pt">ARTICLE II.<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;EFFECT
          OF THE MERGER
          ON THE CAPITAL STOCK OF THE </div>
        <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;CONSTITUENT
          CORPORATIONS............................................... 3</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">2.01.... Effect on Capital
          Stock........................................................................
          3</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">2.02.... Exchange of
          Certificates......................................................................
          4</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">2.03.... Treatment of Company Options
          and
          Company Warrants..................... 6</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">2.04.... Dissenting
          Shares................................................................................
          7</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">2.05.... Withholding
          Rights..............................................................................
          7</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0pt 6pt; TEXT-INDENT: 0pt">ARTICLE III.<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;REPRESENTATIONS
          AND
          WARRANTIES.............................. 7</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">3.01.... Representations and Warranties
          of the Company and its Subsidiaries7</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">3.02.... Representations and Warranties
          of Parent and Merger Sub.............. 15</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0pt 6pt; TEXT-INDENT: 0pt">ARTICLE IV.<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>COVENANTS
          RELATING TO
          CONDUCT OF BUSINESS PRIOR </div>
        <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;</font>TO
          MERGER..............................................................................
          19</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">4.01.... Conduct of Business by the
          Company............................................... 19</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0pt 6pt; TEXT-INDENT: 0pt">ARTICLE V.<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;ADDITIONAL
          AGREEMENTS.................................................. 21</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.01.... Preparation of Form S-4
          and
          Stockholder Statement; Stockholder</div>
        <div><font id="TAB2" style="LETTER-SPACING: 9pt;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;&#160;Meeting...................................................................................
          21</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.02.... Access to Information;
          Confidentiality............................................. 21</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.03.... Reasonable Best
          Efforts...................................................................
          22</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.04....
          Indemnification.................................................................................
          22</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.05.... Public
          Announcements......................................................................
          23</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.06.... No
          Solicitation..................................................................................
          23</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.07.... Letters of the Company's
          Accountants............................................... 24</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">-
          i -</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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            </div>
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            </div>
          </div>
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        </div>
        <div style="MARGIN: 0in 0.5in 6pt 1in; TEXT-INDENT: 0pt" align="center"><u>TABLE
          OF CONTENTS</u></div>
        <div style="MARGIN: 0in 0.5in 6pt 1in; TEXT-INDENT: 0pt" align="center">(continued)</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in; TEXT-INDENT: 0pt" align="left"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;<u>&#160;</u></font><u>Page
          &#160;</u></div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.08.... Letters of Parent's
          Accountants.......................................................... 24</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.09.... Information
          Supplied.........................................................................
          24</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.10.... Exemption from Liability
          Under
          Section&#160;16(b)................................. 24</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.11.... Repayment of Certain Company
          Payables......................................... 24</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.12.... Affiliates
          Letters................................................................................
          24</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">5.13.... Termination of Company
          Plans......................................................... 25</div>
        <div>&#160;</div>
        <div>ARTICLE VI.<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;CONDITIONS
          PRECEDENT..................................................... 25</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">6.01.... Conditions to each Party's
          Obligation to Effect the Merger............... 25</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">6.02.... Conditions to Obligations
          of
          Parent and Merger Sub........................ 26</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">6.03.... Conditions to Obligations
          of the
          Company........................................ 28</div>
        <div>&#160;</div>
        <div>ARTICLE VII.<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;TERMINATION,
          AMENDMENT, AND WAIVER................... 29</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">7.01....
          Termination........................................................................................
          29</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">7.02.... Effect of
          Termination.........................................................................
          30</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">7.03....
          Amendment........................................................................................
          30</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">7.04.... Extension;
          Waiver..............................................................................
          30</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">7.05.... Procedure for Termination,
          Amendment, Extension or Waiver.......... 30</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0pt 6pt; TEXT-INDENT: 0pt">ARTICLE VIII.<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;GENERAL
          PROVISIONS......................................................... 30</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.01.... Nonsurvival of Representations
          and Warranties................................ 30</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.02.... Fees and
          Expenses.............................................................................
          30</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.03....
          Notices...............................................................................................
          31</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.04....
          Definitions..........................................................................................
          32</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.05....
          Interpretation......................................................................................
          34</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.06....
          Counterparts.......................................................................................
          34</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.07.... Entire Agreement; No Third-Party
          Beneficiaries............................... 34</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.08.... Governing Law; Consent to
          Jurisdiction; Waiver of Jury Trial.......... 35</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.09....
          Assignment.........................................................................................
          35</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0.5in 6pt 1in">8.10....
          Remedies............................................................................................
          35</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">-
          ii -</div>
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        <div style="MARGIN: 0in 0in 12pt">AGREEMENT AND PLAN OF MERGER (this
          "<u>Agreement</u>"), dated as of April 18, 2007, by and among Access
          Pharmaceuticals, Inc., a Delaware corporation ("<u>Parent</u>"), Somanta
          Acquisition Corporation, a Delaware corporation and a direct wholly-owned
          Subsidiary of Parent ("<u>Merger Sub</u>"), Somanta Pharmaceuticals, Inc., a
          Delaware corporation (the "<u>Company</u>"), Somanta Incorporated, a Delaware
          corporation and a wholly-owned Subsidiary of the Company, and Somanta Limited,
          a
          company organized under the laws of England and a wholly-owned Subsidiary
          of
          Somanta Incorporated.&#160; Certain capitalized terms used herein are defined in
          Section 8.04.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">WHEREAS, the respective Boards of Directors
          of
          Parent, Merger Sub and the Company have deemed it advisable and in the
          best
          interests of each corporation and their respective stockholders that Parent
          acquire the Company in order to advance the long-term business interests
          of
          Parent and the Company; </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">WHEREAS, the acquisition of the Company
          shall
          be effected through the merger (the "<u>Merger</u>") of Merger Sub with and into
          the Company, upon the terms and subject to the conditions set forth in
          this
          Agreement and in accordance with the Delaware General Corporation Law
          ("<u>Delaware Law</u>"), as a result of which the Company shall become a
          wholly-owned Subsidiary of Parent;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">WHEREAS, the Merger and this Agreement
          require
          the vote of a (i) majority of the outstanding shares of Company Common
          Stock
          (including, for these purposes, all shares of Company Common Stock issuable
          upon
          conversion of Company Preferred Stock) and (ii)&#160; majority of the
          outstanding shares of Company Preferred Stock, voting as a separate class,
          for
          the approval thereof (the "<u>Company Stockholder Approval</u>");</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">WHEREAS, concurrently with the execution
          and
          delivery of this Agreement and as a condition and inducement to Parent's
          willingness to enter into this Agreement, certain stockholders of the Company
          have entered into a Voting Agreement, dated as of the date of this Agreement,
          in
          the form attached hereto as <u>Exhibit&#160;A</u>, pursuant to which such
          stockholders have, among other things, granted certain officers of Parent
          an
          irrevocable proxy to vote shares of capital stock of the Company that such
          stockholders own in favor of this Agreement, the Merger and the transactions
          contemplated herein;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">WHEREAS, Parent, Merger Sub and the Company
          desire to make certain representations, warranties, covenants and agreements
          in
          connection with the Merger and also to prescribe various conditions to
          the
          Merger; and </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">WHEREAS, for federal income Tax purposes,
          it
          is intended that the Merger shall qualify as a reorganization under the
          provisions of Section 368(a) of the Internal Revenue Code of 1986, as amended
          (the "<u>Code</u>").</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">NOW, THEREFORE, in consideration of the
          representations, warranties, covenants and agreements contained in this
          Agreement, and for other good and valuable consideration, the receipt of
          sufficiency of which are hereby acknowledged, the parties agree as
          follows:</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0pt" align="center"><a name="_Toc164153615">ARTICLE
          I.<br><br>THE MERGER </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153616">1.01.&#160;&#160;&#160;&#160;&#160;&#160;
<u>The
          Merger</u>.&#160; Upon the terms and subject to the conditions set forth in this
          Agreement, and in accordance with Delaware Law, Merger Sub shall be merged
          with
          and into the Company at the Effective Time of the Merger. Upon the Effective
          Time of the Merger, the separate existence of Merger Sub shall cease, and
          the
          Company shall continue as the surviving corporation and a wholly-owned
          Subsidiary of Parent.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153617">1.02.&#160;&#160;&#160;&#160;&#160;&#160;
          <u>Closing</u>.&#160; Unless this Agreement shall have been terminated and the
          transactions herein contemplated shall have been abandoned pursuant to
          Section
          7.01, and subject to the satisfaction or waiver of the conditions set forth
          in
          Article VI, the closing of the Merger (the "<u>Closing</u>") shall take place at
          10:00 a.m. on the second business day after satisfaction of the conditions
          set
          forth in Section 6.01 (or as soon as practicable thereafter following
          satisfaction or waiver of the conditions set forth in Sections 6.02 and
          6.03)
          (the "<u>Closing Date</u>"), at the offices of Bingham McCutchen, LLP, 150
          Federal Street, Boston, Massachusetts 02110, unless another date, time
          or place
          is agreed to in writing by the parties hereto.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153618">1.03.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Effective
          Time
          of the Merger</u>.&#160; Upon the Closing, the parties shall file with the
          Secretary of State of the State of </a>Delaware a certificate of merger (the
          "<u>Certificate of Merger</u>") executed in accordance with the relevant
          provisions of Delaware Law and shall make all other filings or recordings
          required under Delaware Law. &#160;The Merger shall become effective at such
          time as the Certificate of Merger is duly filed with the Secretary of State
          of
          the State of Delaware, or at such other time as is permissible in accordance
          with Delaware Law and as Merger Sub and the Company shall agree should
          be
          specified in the Certificate of Merger (the time the Merger becomes effective
          being the "<u>Effective Time of the Merger</u>").</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153619">1.04.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Effects
          of the
          Merger</u>.&#160; The Merger shall have the effects set forth in the applicable
          provisions of Delaware Law. &#160;As used herein, "<u>Surviving Corporation</u>"
          shall mean and refer to the Company, at and after the Effective Time of
          the
          Merger, as the surviving corporation in the Merger and a wholly-owned Subsidiary
          of Parent.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153620">1.05.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Certificate
          of
          Incorporation; By-Laws; Purposes</u>.&#160; </a>(a) At the Effective Time of the
          Merger, and without any further action on the part of the Company or Merger
          Sub,
          the certificate of incorporation of Merger Sub as in effect at the Effective
          Time of the Merger shall be the certificate of incorporation of the Surviving
          Corporation until thereafter amended as provided therein or by applicable
          law.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
At the Effective Time of the Merger, and
          without any further action on the part
          of the Company or Merger Sub, the by-laws of Merger Sub as in effect at
          the
          Effective Time of the Merger shall be the by-laws of the Surviving Corporation
          until thereafter changed or amended as provided therein or by applicable
          law.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The purposes of the Surviving Corporation
          shall be the purposes set forth in the
          certificate of incorporation of Merger Sub in effect immediately prior
          to the
          Effective Time of the Merger.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
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        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The capitalization of the Surviving Corporation
          shall be as set forth in the
          certificate of incorporation of Merger Sub in effect immediately prior
          to the
          Effective Time of the Merger.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153621">1.06.&#160;&#160;&#160;&#160;&#160;&#160;
          <u>Directors</u>.&#160; The directors of Merger Sub at the Effective Time of the
          Merger shall be the directors of the Surviving Corporation, until the earlier
          of
          their resignation or removal or until their respective successors are duly
          elected and qualified, as the case may be.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153622">1.07.&#160;&#160;&#160;&#160;&#160;&#160;
          <u>Officers</u>.&#160; The officers of Merger Sub at the Effective Time of the
          Merger shall be the officers of the Surviving Corporation, until the earlier
          of
          their resignation or removal or until their respective successors are duly
          elected or appointed and qualified, as the case may be.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in; mso-pagination: widow-orphan lines-together" align="center"><a name="_Toc164153623">ARTICLE
          II.<br><br>EFFECT OF THE MERGER ON
          THE CAPITAL STOCK OF THE CONSTITUENT CORPORATIONS </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153624">2.01.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Effect
          on
          Capital Stock</u>.&#160; As of the Effective Time of the Merger, by virtue of
          the Merger and without any action on the part of the Company, Merger Sub,
          or any
          holder of any shares of Company Common Stock or any shares of capital stock
          of
          Merger Sub:</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Common Stock of Merger Sub</u>.&#160; Each share of common stock of
          Merger
          Sub issued and outstanding immediately prior to the Effective Time of the
          Merger
          shall be converted into one share of the common stock, par value $0.001
          per
          share, of the Surviving Corporation.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Cancellation of Treasury Stock, Parent-Owned
          Company Stock and Company
          Preferred Stock</u>.&#160; Each share of Company Common Stock and Company
          Preferred Stock that is owned by the Company or by any Subsidiary of the
          Company, and each share of Company Common Stock and Company Preferred Stock
          that
          is owned by Parent, Merger Sub or any other Subsidiary of Parent shall
          automatically be cancelled and retired and shall cease to exist, and no
          cash,
          Parent Common Stock or other consideration shall be delivered or deliverable
          in
          exchange therefor.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Conversion of Company Common Stock
          and Company Preferred Stock.</u></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 1in">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<a name="OLE_LINK2"/><a name="OLE_LINK1">Each
          issued and outstanding share of Company
          Common Stock (excluding shares cancelled pursuant to Section 2.01(b) and
          any
          Dissenting Shares to the extent provided in Section 2.04 but including
          all
          shares of Company Common Stock issued upon conversion of any Company Preferred
          Stock or exercise of Company Options or Company Warrants occurring after
          the
          date of this Agreement) shall be converted into the right to receive a
          number of
          shares of Parent Common Stock equal to:&#160; (x) 500,000, divided by (y) the
          total number of shares of Company Common Stock outstanding at the Effective
          Time, such quotient to be carried out to eight decimal points (the "<u>Common
          Stock Exchange Ratio</u>"); </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 1in">&#160;</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 1in">(ii)&#160;&#160;&#160;&#160;&#160;&#160;
Each issued and outstanding
          share of Company Preferred Stock (excluding shares
          cancelled pursuant to Section 2.01(b) and any Dissenting Shares to the
          extent
          provided in Section 2.04) shall be converted into the right to receive
          a number
          of shares of Parent Common Stock equal to:&#160; (x) 1,000,000, divided by (y)
          the total number of shares of Company Preferred Stock outstanding at the
          Effective Time, such quotient carried out to eight decimal points (the
          "<u>Preferred Stock Exchange Ratio</u>");</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 1in">(iii)&#160;&#160;&#160;&#160;&#160;
The total number of
          shares of Parent Common Stock issuable in exchange for the
          Company Common Stock and Company Preferred Stock shall be referred to herein
          collectively as the &#8220;Merger Consideration.&#8221;&#160; In no event shall the
          aggregate number of shares of Parent Common Stock to be issued or issuable
          hereunder in exchange for Company Common Stock and Company Preferred Stock
          exceed 1,500,000 (or such lesser number if decreased in accordance with
          Section
          2.04).&#160; Except as set forth in this Article II, no other amounts shall be
          payable with respect to such Company Common Stock.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Cancellation and Retirement of Company
          Common Stock and Company Preferred
          Stock</u>.&#160; As of the Effective Time of the Merger, all shares of Company
          Common Stock and Company Preferred Stock issued and outstanding immediately
          prior to the Effective Time of the Merger shall no longer be outstanding
          and
          shall automatically be cancelled and retired and shall cease to exist,
          and each
          holder of a certificate representing any such shares of Company Common
          Stock and
          Company Preferred Stock (collectively, the "<u>Certificates</u>") shall, to the
          extent such Certificate represents such shares, cease to have any rights
          with
          respect thereto, except the right to receive the Merger Consideration (and
          cash
          in lieu of fractional shares of Parent Common Stock) to be issued or paid
          in
          consideration therefor upon surrender of such Certificate in accordance
          with
          Section 2.02.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153625">2.02.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Exchange
          of
          Certificates</u>.&#160; </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Exchange Agent</u>.&#160; As of the Effective Time of the
          Merger, Parent
          shall enter into an agreement with such bank or trust company as may be
          designated by Parent (the "<u>Exchange Agent</u>") which shall provide that
          Parent shall deposit with the Exchange Agent, for the benefit of the holders
          of
          Certificates, for exchange in accordance with this Article II, certificates
          representing the shares of Parent Common Stock (such shares of Parent Common
          Stock, together with any dividends or distributions with respect thereto
          with a
          record date after the Effective Time of the Merger, and any cash payable
          in lieu
          of any fractional shares of Parent Common Stock being hereinafter referred
          to as
          the "<u>Exchange Fund</u>") issuable pursuant to Section 2.01 in exchange for
          outstanding shares of Company Common Stock.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Exchange Procedures</u>.&#160; As soon as reasonably practicable
          after the
          Effective Time of the Merger, the Exchange Agent shall mail to each holder
          of
          record of Certificates immediately prior to the Effective Time of the Merger
          whose shares of Company Common Stock were converted into shares of Parent
          Common
          Stock pursuant to Section 2.01 (i) a letter of transmittal (which shall
          specify
          that delivery shall be effected, and risk of loss and title to the Certificates
          shall pass only upon delivery of the Certificates to the Exchange Agent,
          and
          which shall be in such form and have such other provisions as Parent may
          reasonably specify) and (ii) instructions for use in effecting the surrender
          of
          the Certificates in exchange for certificates representing shares of Parent
          Common Stock. &#160;Upon surrender of a Certificate for cancellation (or
          indemnity reasonably satisfactory to Parent and the Exchange Agent, if
          any of
          such Certificates are lost, stolen or destroyed) to the Exchange Agent
          together
          with such letter of transmittal, duly executed, the holder of such Certificate
          shall be entitled to receive in exchange therefor a certificate representing
          that number of whole shares of Parent Common Stock which such holder has
          the
          right to receive in respect of all Certificates surrendered by such holder
          pursuant to the provisions of this Article II (after taking into account
          all
          shares of Company Common Stock then held by such holder), and the Certificates
          so surrendered shall forthwith be cancelled. &#160;In the event of a transfer of
          ownership of shares of Company Common Stock which is not registered in
          the
          transfer records of the Company, a certificate representing the proper
          number of
          shares of Parent Common Stock may be issued to a transferee if the Certificate
          is presented to the Exchange Agent, accompanied by all documents required
          to
          evidence and effect such transfer and by evidence that any applicable stock
          transfer Taxes have been paid. &#160;Until surrendered as contemplated by this
          Section 2.02, subject to the provisions of Section 2.04, each Certificate
          shall
          be deemed at any time after the Effective Time of the Merger to represent
          only
          the Parent Common Stock into which the shares of Company Common Stock
          represented by such Certificate have been converted as provided in this
          Article
          II and the right to receive upon such surrender cash in lieu of any fractional
          shares of Parent Common Stock as contemplated by this Section 2.02.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Distributions with Respect to Unexchanged
          Shares</u>.&#160; No dividends or
          other distributions with respect to Parent Common Stock with a record date
          after
          the Effective Time of the Merger shall be paid to the holder of any
          unsurrendered Certificate with respect to the shares of Parent Common Stock
          represented thereby, and no cash payment in lieu of fractional shares shall
          be
          paid to any such holder pursuant to Section 2.02(e) until the surrender
          of such
          Certificate in accordance with this Article II. &#160;Subject to the effect of
          applicable laws, following surrender of any such Certificate, there shall
          be
          paid to the holder of the certificate representing the whole shares of
          Parent
          Common Stock issued in exchange therefor without interest, (i) at the time
          of
          such surrender, the amount of any cash payable in lieu of any fractional
          share
          of Parent Common Stock to which such holder is entitled pursuant to Section
          2.02(e) and the amount of any dividends or other distributions with a record
          date after the Effective Time of the Merger theretofore paid (but withheld
          pursuant to the immediately preceding sentence) with respect to such whole
          shares of Parent Common Stock, and (ii) at the appropriate payment date,
          the
          amount of any dividends or other distributions with a record date after
          the
          Effective Time of the Merger and a payment date subsequent to such surrender
          payable with respect to such whole shares of Parent Common Stock.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>No Further Ownership Rights in Company
          Common Stock or Company Preferred
          Stock</u>.&#160; All shares of Parent Common Stock issued upon conversion of
          shares of Company Common Stock or Company Preferred Stock in accordance
          with the
          terms hereof, and all cash paid pursuant to Sections 2.02(c) and 2.02(e),
          shall
          be deemed to have been issued in full satisfaction of all rights pertaining
          to
          such Company Common Stock or Company Preferred Stock, and there shall be
          no
          further registration of transfers on the stock transfer books of the Surviving
          Corporation of the Company Common Stock or Company Preferred Stock which
          were
          outstanding prior to the Effective Time of the Merger. &#160;If, after the
          Effective Time of the Merger, Certificates are presented to the Surviving
          Corporation for any reason, they shall be cancelled and exchanged as provided
          in
          this Article II.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>No Fractional Shares</u>.&#160; (i) No certificate or scrip representing
          fractional shares of Parent Common Stock shall be issued upon the surrender
          for
          exchange of Certificates, and such fractional share interests shall not
          entitle
          the owner thereof to vote or to any rights of a stockholder of Parent.
&#160;In
          lieu of such issuance of fractional shares, Parent shall pay each holder
          of
          Certificates an amount in cash equal to the product obtained by multiplying
          (a)
          the fractional share interest to which such holder would otherwise be entitled
          (after taking into account all shares of Company Common Stock or Company
          Preferred Stock held immediately prior to the Effective Time of the Merger
          by
          such holder) by (b) the average of the closing sale prices for a share
          of Parent
          Common Stock on the OTC Bulletin Board for the ten trading days immediately
          preceding the date of the Effective Time of the Merger.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
As soon as reasonably practicable after
          the determination of the amount of cash,
          if any, to be paid to holders of Certificates with respect to any fractional
          share interests, the Exchange Agent shall make available such amounts to
          such
          holders of Certificates, subject to and in accordance with the terms of
          Section
          2.02(c).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Termination of Exchange Fund</u>.&#160; Any portion of the Exchange Fund
          deposited with the Exchange Agent pursuant to this Section 2.02 which remains
          undistributed to the holders of the Certificates six months after the Effective
          Time of the Merger shall be delivered to Parent, upon demand, and any holders
          of
          Certificates who have not theretofore complied with this Article II shall
          thereafter look only to Parent and only as general creditors thereof for
          payment
          of their claim for Parent Common Stock, cash in lieu of fractional shares
          of
          Parent Common Stock and any dividends or distributions with respect to
          Parent
          Common Stock to which such holders may be entitled pursuant to this Article
          II.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>No Liabilit</u>y.&#160; None of Parent, Merger Sub, the
          Company or the
          Exchange Agent shall be liable to any Person in respect of any shares of
          Parent
          Common Stock (or dividends or distributions with respect thereto) or cash
          from
          the Exchange Fund delivered to a public official pursuant to any applicable
          abandoned property, escheat or similar law. &#160;If any Certificates shall not
          have been surrendered prior to three years after the Effective Time of
          the
          Merger, or immediately prior to such earlier date on which any Merger
          Consideration, any cash in lieu of fractional shares of Parent Common Stock
          or
          any dividends or distributions with respect to Parent Common Stock would
          otherwise escheat to or become the property of any Governmental Entity,
          any such
          Merger Consideration or cash shall, to the extent permitted by applicable
          law,
          become the property of the Surviving Corporation, free and clear of all
          claims
          or interest of any Person previously entitled thereto.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        </div>
        <div style="MARGIN: 0in 0in 12pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Investment of Exchange Fund</u>.&#160; The Exchange Agent shall invest
          any
          cash included in the Exchange Fund, as directed by Parent on a daily basis.
          &#160;Any interest and other income resulting from such investments shall be
          paid to Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Adjustment Provisions</u>.&#160; In the event Parent changes (or
          establishes
          a record date for changing) the number of shares of Parent Common Stock
          issued
          and outstanding prior to the Effective Time of the Merger as a result of,
          including, without limitation, a forward or reverse stock split, stock
          dividend,
          recapitalization or similar transaction with respect to the outstanding
          Parent
          Common Stock and the record date therefor shall be prior to the Effective
          Time
          of the Merger, the Common Stock Exchange Ratio shall be proportionately
          adjusted.&#160; In the event Parent changes (or establishes a record date for
          changing) the number of shares of Parent Common Stock issued and outstanding
          prior to the Effective Time of the Merger as a result of, including, without
          limitation, a forward or reverse stock split, stock dividend, recapitalization
          or similar transaction with respect to the outstanding Parent Common Stock
          and
          the record date therefor shall be prior to the Effective Time of the Merger,
          the
          Preferred Stock Exchange Ratio shall be proportionately adjusted. &#160;If,
          between the date hereof and the Effective Time of the Merger, Parent shall
          merge, be acquired or consolidate with, by or into any other corporation
          (a
          "<u>Business Combination</u>") and the terms thereof shall provide that Parent
          Common Stock shall be converted into or exchanged for the shares of any
          other
          corporation or entity, then provision shall be made as part of the terms
          of such
          Business Combination so that securityholders of the Company who would be
          entitled to receive shares of Parent Common Stock pursuant to this Agreement
          shall be entitled to receive, in lieu of each share of Parent Common Stock
          issuable to such securityholders as provided herein, the same kind and
          amount of
          securities or assets as shall be distributable upon such Business Combination
          with respect to one share of Parent Common Stock (provided that nothing
          herein
          shall be construed so as to release the acquiring entity in any such Business
          Combination from its obligations under this Agreement as the successor
          to
          Parent).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153626">2.03.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Treatment
          of
          Company Options and Company Warrants</u>.&#160; Parent shall not assume any
          options to purchase shares of Company Common Stock (the "<u>Company
          Options</u>"), even if such Company Options are outstanding immediately before
          the Effective Time of the Merger and are fully vested and exercisable
          immediately before the Effective Time of the Merger.&#160; All Company Options
          shall have been exercised or terminated prior to the Closing Date.&#160; The
          Company shall have taken all necessary action to implement and carry out
          the
          provisions of this Section 2.03, including, without limitation, taking
          the
          actions described in Section 6.02(e).&#160; </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">At the Effective Time of the Merger, Parent
          shall assume all issued and outstanding Company Warrants other than the
          Company
          Warrants to be exercised pursuant to Section&#160;6.02(m), including, without
          limitation, all rights and obligations related thereto (except as otherwise
          provided in the waivers to be executed and delivered pursuant to Section
          6.02(h)), in accordance with the terms of the applicable warrant agreement,
          in
          each case as adjusted to take into account the effect resulting from the
          Merger
          as follows.&#160; At the Effective Time of the Merger, each such Company
          Warrant, whether or not vested, shall, by virtue of the Merger, be assumed
          by
          Parent.&#160; Each such Company Warrant so assumed by Parent hereunder will
          continue to have, and be subject to, the same terms and conditions of such
          Company Warrant immediately prior to the Effective Time of the Merger
          (including, without limitation, any repurchase rights or vesting provisions
          and
          provisions regarding the acceleration of vesting and exercisability on
          certain
          transactions), except that (i) each such Company Warrant will be exercisable
          (or
          will become exercisable in accordance with its terms) for that number of
          whole
          shares of Parent Common Stock equal to the number of shares of Company
          Common
          Stock that were issuable upon exercise of such Company Warrant (assuming
          full
          vesting), immediately prior to the Effective Time of the Merger, multiplied
          by
          the Common Stock Exchange Ratio and rounded down to the nearest whole share,
          and
          (ii) the per share exercise price for the shares of Parent Common Stock
          issuable
          upon exercise of each such assumed Company Warrant will be divided by the
          Common
          Stock Exchange Ratio and rounded up to the nearest whole cent.&#160; At the
          Effective Time of the Merger, (x) all references in the related warrant
          agreements to the Company shall be deemed to refer to Parent and (y)&#160;Parent
          shall assume all of the Company's obligations with respect to such Company
          Warrants as so amended.&#160; As promptly as reasonably practicable after the
          Effective Time of the Merger, Parent shall issue to each holder of any
          such
          Company Warrant a document evidencing the foregoing adjustments and assumption
          by Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt; tab-stops: list .5in"><a name="_Toc164153627">2.04.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Dissenting
          Shares</u>.&#160; </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Subject to the provisions of Section 6.02(i)
          and notwithstanding any provision
          of this Agreement to the contrary, the shares of any holder of Company
          Common
          Stock or Company Preferred Stock who has demanded and perfected appraisal
          rights
          of such shares in accordance with Delaware Law and who, as of the Effective
          Time
          of the Merger, has not effectively withdrawn or lost such appraisal rights
          ("<u>Dissenting Shares</u>") shall not be converted into or represent a right to
          receive Parent Common Stock pursuant to Section 2.01(c), but the holder
          thereof
          shall only be entitled to such rights as are granted by Delaware Law, and
          the
          total number of shares of Parent Common Stock issuable as Merger Consideration
          as provided in Section&#160;2.01(c)(i) or (ii), as applicable, shall be
          proportionately decreased.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Notwithstanding the foregoing, if any
          holder of shares of Company Common Stock
          or Company Preferred Stock who demands appraisal of such shares under Delaware
          Law shall effectively withdraw the right to appraisal, then, as of the
          later of
          the Effective Time of the Merger and the occurrence of such event, such
          holder's
          shares shall automatically be converted into and represent only the right
          to
          receive Parent Common Stock, without interest thereon, upon surrender of
          the
          Certificate representing such shares as provided in Section 2.01(c), and,
          subject to Section&#160;2.01(c)(iii), the total number of shares of Parent
          Common Stock issuable as Merger Consideration as provided in
          Section&#160;2.01(c)(i) or (ii), as applicable, shall be proportionally
          increased to the extent such number was previously decreased pursuant to
          Section&#160;2.04(a) with respect to such shares.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The Company shall give Parent (i) prompt
          notice of any written demands for
          appraisal of any shares of Company Common Stock or Company Preferred Stock,
          withdrawals of such demands, and any other instruments served pursuant
          to
          Delaware Law and received by the Company which relate to any such demand
          for
          appraisal and (ii) the opportunity to participate in all negotiations and
          proceedings which take place prior to the Effective Time of the Merger
          with
          respect to demands for appraisal under Delaware Law. &#160;The Company shall
          not, except with the prior written consent of Parent or as may be required
          by
          applicable law, voluntarily make any payment with respect to any demands
          for
          appraisal of the Company Common Stock or Company Preferred Stock or offer
          to
          settle or settle any such demands.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; PAGE-BREAK-AFTER: auto; tab-stops: list .5in"><a name="_Toc164153628">2.05.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Withholding
          Rights</u>.&#160; Each of Parent and the Surviving Corporation shall be entitled
          to deduct and withhold from the consideration otherwise payable pursuant
          to this
          Agreement to any holder of Company Common Stock or Company Preferred Stock
          such
          amounts as it is required to deduct and withhold with respect to the making
          of
          such payment under the Code, or any provision of state, local or foreign
          Tax
          law.&#160; To the extent that amounts are so withheld by Parent or the Surviving
          Corporation, as the case may be, such withheld amounts shall be treated
          for all
          purposes of this Agreement as having been paid to such holder in respect
          of
          which such deduction and withholding was made by Parent or the Surviving
          Corporation, as the case may be.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align="center"><a name="_Toc164153629">ARTICLE
          III.<br><br>REPRESENTATIONS AND WARRANTIES</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153630">3.01.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Representations
          and Warranties of the Company and its Subsidiaries</u>.&#160; Except as set
          forth in the disclosure schedule (to the extent each disclosure item therein
          is
          clearly marked to indicate the section, paragraph or subparagraph of this
          Agreement to which such disclosure is an exception, referencing the same
          section, paragraph and subparagraph as used in this Agreement) delivered
          by the
          Company to Parent and Merger Sub at the time of execution of this Agreement
          (the
          "<u>Company Disclosure Schedule</u>"), the Company and each of its Subsidiaries
          hereby jointly and severally represent and warrant to Parent and Merger
          Sub as
          follows:</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Organization; Standing and Corporate
          Power</u>.&#160; Each of the Company and
          each of its Subsidiaries is duly organized, validly existing and in good
          standing under the laws of the jurisdiction in which it is organized and
          has the
          requisite corporate power and authority to carry on its business as now
          being
          conducted. &#160;Except as set forth in Section 3.01(a) of the Company
          Disclosure Schedule, each of the Company and each of its Subsidiaries is
          duly
          qualified or licensed to do business and is in good standing in each
          jurisdiction (domestic or foreign) in which the nature of its business
          or the
          ownership or leasing of its properties makes such qualification or licensing
          necessary, other than in such jurisdictions where the failure to be so
          qualified
          or licensed (individually or in the aggregate) would not have a Material
          Adverse
          Effect with respect to the Company. &#160;The Company has delivered to Parent
          complete and correct copies of the certificate of incorporation (including
          any
          Certificate of Designations thereto) (the "<u>Certificate of Incorporation</u>")
          and by-laws (the "<u>By-laws</u>") of the Company, in each case as amended and
          as currently in effect. &#160;The Company has delivered to Parent complete and
          correct copies of the certificates of incorporation and by-laws (or other
          organizational documents) of each of its Subsidiaries, in each case as
          amended
          and currently in effect.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        </div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Subsidiaries</u>.&#160; All of the Subsidiaries of the
          Company are listed in
          Section 3.01(b) of the Company Disclosure Schedule. &#160;All of the outstanding
          shares of capital stock of each Subsidiary of the Company have been validly
          issued and are fully paid and nonassessable and are owned (of record and
          beneficially) by the Company or by another wholly-owned Subsidiary of the
          Company, free and clear of all pledges, claims, liens, charges, encumbrances
          and
          security interests of any kind or nature whatsoever except for Permitted
          Liens
          (collectively, "<u>Liens</u>"). &#160;The Company does not own, directly or
          indirectly, any capital stock or other ownership interest in any Person.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Capital Structure</u>. &#160;The authorized capital stock of
          the Company
          consists of (x)&#160;100,000,000 shares of Company Common Stock and
          (y)&#160;20,000,000 shares of preferred stock, par value $0.001 per share, of
          which 2,000 shares are designated as Company Preferred Stock. As of the
          close of
          business on April&#160;16, 2007, there were: (i)&#160;14,292,603 shares of
          Company Common Stock issued and outstanding; (ii)&#160;591.6318 shares of
          Company Preferred Stock issued and outstanding which are convertible into
          9,860,135 shares of Company Common Stock; (iii)&#160;accrued but undeclared
          dividends on the Company Preferred Stock which are convertible into 634,871
          shares of Company Common Stock pursuant to the Certificate of Designations
          of
          the Company Preferred Stock; (iv) no shares of Company Common Stock held
          in the
          treasury of the Company; (v)&#160;4,516,837 shares of Company Common Stock
          Options available for grant pursuant to the Company Stock Option Plan;
          (vi)&#160;3,483,163 shares of Company Common Stock reserved for issuance
          pursuant to outstanding options granted pursuant to the Company Stock Option
          Plan; and (vii)&#160;Company Warrants listed in Section 3.01(c) of the Company
          Disclosure Schedule, representing the right to purchase 7,102,838 shares
          of
          Company Common Stock. &#160;Except as set forth above, as of the close of
          business on April&#160;16 2007, there were no shares of capital stock or other
          equity securities of the Company issued, reserved for issuance or outstanding.
          All outstanding shares of capital stock of the Company are, and all shares
          which
          may be issued pursuant to the Company Stock Option Plan shall be, when
          issued,
          duly authorized, validly issued, fully paid and nonassessable and not subject
          to
          preemptive rights. &#160;All securities issued by the Company were issued in
          compliance in all material respects with all applicable federal and state
          securities laws and all applicable rules and regulations promulgated thereunder.
          &#160;There are no outstanding bonds, debentures, notes or other indebtedness
          or
          debt securities of the Company or any of its Subsidiaries that have the
          right to
          vote (or that are convertible into, or exchangeable for, securities having
          the
          right to vote) on any matters on which stockholders of the Company may
          vote
          (collectively, "<u>Voting Debt</u>"). &#160;Except as set forth above, there are
          no outstanding securities, options, warrants, calls, rights, commitments,
          agreements, arrangements or undertakings of any kind to which the Company
          or any
          of its Subsidiaries is a party or by which any of them is bound obligating
          the
          Company or any of its Subsidiaries to issue, deliver or sell, or cause
          to be
          issued, delivered or sold, additional shares of capital stock or other
          equity or
          voting securities of the Company or of any of its Subsidiaries or obligating
          the
          Company or any of its Subsidiaries to issue, grant, extend, accelerate
          the
          vesting of or enter into any such security, option, warrant, call, right,
          commitment, agreement, arrangement or undertaking. &#160;There are no
          outstanding contractual obligations, commitments, understandings or arrangements
          of the Company or any of its Subsidiaries to repurchase, redeem or otherwise
          acquire or make any payment in respect of any shares of capital stock of
          the
          Company or any of its Subsidiaries. &#160;To the knowledge of the Company,
          except as provided in Section 3.01(c) of the Company Disclosure Schedule,
          there
          are no irrevocable proxies with respect to shares of capital stock of the
          Company or any Subsidiary of the Company. &#160;There are no agreements or
          arrangements pursuant to which the Company is or could be required to register
          shares of Company Common Stock or other agreements or arrangements with
          or, to
          the knowledge of the Company, among any securityholders of the Company
          with
          respect to securities of the Company.&#160; Except as set forth in Section
          3.01(c) of the Company Disclosure Schedule, the Company has complied in
          all
          respects with any obligation to register shares of Company Common Stock
          and has
          not incurred any liability in connection with its failure to register such
          shares.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">Except as set forth in Section 3.01(c)
          of the
          Company Disclosure Schedule, since April&#160;30, 2006, the Company has not (A)
          issued or permitted to be issued any shares of capital stock, or securities
          exercisable for or convertible into shares of capital stock, of the Company
          or
          any of its Subsidiaries; (B) repurchased, redeemed or otherwise acquired,
          directly or indirectly through one or more Subsidiaries, any shares of
          capital
          stock of the Company or any of its Subsidiaries or (C) declared, set aside,
          made
          or paid to the stockholders of the Company dividends or other distributions
          on
          the outstanding shares of capital stock of the Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Authority; Noncontravention</u>. &#160;Each of the Company and each of
          its
          Subsidiaries has the requisite corporate power and authority to enter into
          this
          Agreement and, subject to the Company Stockholder Approval in the case
          of the
          Agreement, to consummate the transactions contemplated hereby. &#160;The
          execution and delivery of this Agreement by the Company and each of its
          Subsidiaries and the consummation by the Company and each of its Subsidiaries
          of
          the transactions contemplated hereby have been duly authorized by all necessary
          corporate action on the part of the Company and each of its Subsidiaries,
          subject, in the case of this Agreement, to the Company Stockholder Approval.
          &#160;This Agreement has been duly executed and delivered by the Company and
          each of its Subsidiaries and (assuming due authorization, execution and
          delivery
          by Parent and Merger Sub) constitutes a valid and binding obligation of
          the
          Company and each of its Subsidiaries, enforceable against the Company and
          each
          of its Subsidiaries in accordance with its respective terms, subject to
          the
          effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
          moratorium and other similar laws affecting creditors' rights generally,
          general
          equitable principles (whether considered in a proceeding in equity or at
          law)
          and an implied covenant of good faith and fair dealing. &#160;Except as set
          forth in Section 3.01(d) of the Company Disclosure Schedule, the execution
          and
          delivery of this Agreement does not, and the consummation by the Company
          and
          each of its Subsidiaries of the transactions contemplated by this Agreement
          and
          compliance by the Company and each of its Subsidiaries with the provisions
          hereof shall not, conflict with, or result in any breach or violation of,
          or any
          default (with or without notice or lapse of time, or both) under, or give
          rise
          to a right of termination, cancellation or acceleration of, or a "put"
          right
          with respect to any obligation under, or to a loss of a material benefit
          under,
          or result in the creation of any Lien upon any of the properties or assets
          of
          the Company or any of its Subsidiaries under, (i) the Certificate of
          Incorporation or By-laws, or the comparable charter or organizational documents
          of any of its Subsidiaries, (ii) any loan or credit agreement, note, note
          purchase agreement, bond, mortgage, indenture, lease or other agreement,
          instrument, permit, concession, franchise or license applicable to the
          Company
          or any of its Subsidiaries or their respective properties or assets or
          (iii)
          subject to the governmental filings and other matters referred to in the
          following sentence, any judgment, order, decree, statute, law, ordinance,
          rule,
          regulation or arbitration award applicable to the Company or any of its
          Subsidiaries or their respective properties or assets. &#160;No consent,
          approval, order or authorization of, or registration, declaration or filing
          with, or notice to, any federal, state or local government or any court,
          administrative agency or commission or other governmental authority or
          agency,
          domestic or foreign (a "<u>Governmental Entity</u>"), is required by or with
          respect to the Company or any of its Subsidiaries in connection with the
          execution and delivery of this Agreement by the Company or the consummation
          by
          the Company of the transactions contemplated hereby or the performance
          by the
          Company and each of its Subsidiaries of their respective obligations hereunder,
          except for (i) such filings, if any, as may be required under the
          Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "<u>HSR
          Act</u>") and the filing of applications by the Company pursuant to antitrust
          or
          similar laws in such foreign jurisdictions as necessary, (ii) the filing
          with
          the SEC of (A) a proxy statement relating to the Company Stockholder Approval
          (such proxy statement as amended or supplemented from time to time, the
          "<u>Stockholder Statement</u>") and (B) such reports under the Securities
          Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), as may be required
          in connection with this Agreement and the transactions contemplated hereby
          and
          (iii) the filing of the Certificate of Merger with the Secretary of State
          of the
          State of Delaware and appropriate documents with the relevant authorities
          of
          other states in which the Company or any of its Subsidiaries is qualified
          to do
          business.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>SEC Documents; Undisclosed Liabilities</u>. &#160;The Company has filed with
          the SEC all reports, schedules, forms, statements and other documents required
          pursuant to the Securities Act of 1933, as amended (the "<u>Securities Act</u>")
          and the Exchange Act since April 30, 2004 (collectively, and in each case
          including all exhibits and schedules thereto and documents incorporated
          by
          reference therein, the "<u>SEC Documents</u>"). &#160;As of their respective
          dates, the SEC Documents (other than the SEC Financial Statements) comply
          in all
          material respects with the requirements of the Securities Act or the Exchange
          Act, as the case may be, and the rules and regulations of the SEC promulgated
          thereunder applicable to such SEC Documents. &#160;Except to the extent that
          information contained in any SEC Document has been revised or superseded
          by a
          later filed SEC Document, none of the SEC Documents (including any and
          all SEC
          Financial Statements included therein) contains any untrue statement of
          a
          material fact or omits to state a material fact required to be stated therein
          or
          necessary in order to make the statements therein, in the light of the
          circumstances under which they were made, not misleading. &#160;The consolidated
          financial statements of the Company included in all SEC Documents filed
          since
          April 30, 2004 (the "<u>SEC Financial Statements</u>") comply as to form in all
          material respects with applicable published accounting requirements and
          the
          published rules and regulations of the SEC with respect thereto, have been
          prepared in accordance with generally accepted accounting principles as
          applied
          in the United States (except, in the case of unaudited consolidated quarterly
          statements, as permitted by Form 10-QSB of the SEC), applied on a consistent
          basis during the periods involved (except as may be indicated in the notes
          thereto) and fairly present the consolidated financial position of the
          Company
          and its consolidated Subsidiaries as of the dates thereof and the consolidated
          results of their operations and cash flows for the periods then ended (subject,
          in the case of unaudited quarterly statements, to normal recurring year-end
          audit adjustments). &#160;Neither the Company nor any of its Subsidiaries has
          any liabilities or obligations of any nature (whether accrued, absolute,
          contingent or otherwise) required by generally accepted accounting principles
          as
          applied in the United States to be recognized or disclosed on a consolidated
          balance sheet of the Company and its Subsidiaries or in the notes thereto,
          except (i) liabilities reflected in the consolidated balance sheet of the
          Company as of January 31, 2007 (the "<u>2007 Balance Sheet</u>") and (ii)
          liabilities incurred since January 31, 2007 in the ordinary course of business
          consistent with past practice, which, if in an amount in excess of $10,000,
          are
          listed in Section 3.01(e) of the Company Disclosure Schedule.</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Disclosure Controls and Procedures;
          Internal Control Over Financing
          Reporting</u>.&#160; The Company maintains disclosure controls and procedures
          required by Rule&#160;13a-15 and 15d-15 under the Exchange Act.&#160; Such
          disclosure controls and procedures are designed to ensure that all material
          information relating to the Company and its Subsidiaries is made known
          to the
          Company's chief executive officer and chief financial officer by others
          within
          those entities, particularly during the period in which the Company's applicable
          Exchange Act report is being prepared, and effective, in that they provide
          reasonable assurance that information required to be disclosed by the Company
          in
          the reports that it files or submits under the Exchange Act is recorded,
          processed, summarized and reported within the time periods specified in
          the
          SEC's rules and forms.&#160; The Company's management is responsible for
          establishing and maintaining adequate internal control over &lt;?xml:namespace
          prefix = st1 ns = "schemas-workshare-com/workshare" /&gt;financial reporting as
          required by Rule&#160;13a-15 or 15d-15 under the Exchange Act.&#160; The
          Company's internal control over financial reporting was effective as of
          January&#160;31, 2007. </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Information Supplied</u>. &#160;None of the information supplied
          or to be
          supplied by the Company in writing for inclusion or incorporation by reference
          in (i) the registration statement on Form S-4 to be filed with the SEC
          by Parent
          in connection with the issuance of Parent Common Stock in the Merger (the
          "<u>Form S-4</u>") shall, at the time the Form S-4 becomes effective under the
          Securities Act, contain any untrue statement of a material fact or omit
          to state
          any material fact required to be stated therein or necessary to make the
          statements therein not misleading or (ii) the Stockholder Statement shall,
          at
          (A) the date it is first mailed to the Company's stockholders and/or (B)
          at the
          time of the Stockholder Meeting, contain any untrue statement of a material
          fact
          or omit to state any material fact required to be stated therein or necessary
          in
          order to make the statements therein, in the light of the circumstances
          under
          which they are made, not misleading. &#160;The Stockholder Statement shall
          comply as to form in all material respects with the requirements of the
          Exchange
          Act and the rules and regulations promulgated thereunder, except that no
          representation is made by the Company with respect to statements made or
          incorporated by reference therein based on information supplied in writing
          by
          Parent or Merger Sub specifically for inclusion or incorporation by reference
          therein.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Absence of Certain Changes or Events</u>. &#160;Except as set forth in
          Section 3.01(h) of the Company Disclosure Schedule, since April 30, 2006,
          there
          is not and has not been: (i) any Material Adverse Change with respect to
          the
          Company; (ii) any condition, event or occurrence which, individually or
          in the
          aggregate, could reasonably be expected to have a Material Adverse Effect
          or
          give rise to a Material Adverse Change with respect to the Company; (iii)
          any
          condition, event or occurrence which, individually or in the aggregate,
          could
          reasonably be expected to prevent or materially delay the ability of the
          Company
          or any of its Subsidiaries to consummate the transactions contemplated
          by this
          Agreement or perform their respective obligations hereunder.&#160; On the date
          of this Agreement, the Company is not engaged in any discussions nor does
          it
          have any intention to engage in a Transaction Proposal.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Litigation; Labor Matters; Compliance
          with Laws</u>.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Except as set forth in Section 3.01(i)(i)
          of the Company Disclosure Schedule,
          there is no suit, action, claim, charge, arbitration, investigation or
          proceeding pending before a Governmental Entity and, to the knowledge of
          the
          Company, no suit, claim, charge, action, arbitration, investigation or
          proceeding threatened against or investigation pending, in each case with
          respect to the Company or any of its Subsidiaries, that, individually or
          in the
          aggregate, could reasonably be expected to have a Material Adverse Effect
          with
          respect to the Company or prevent or materially delay the ability of the
          Company
          or any of its Subsidiaries to consummate the transactions contemplated
          by this
          Agreement or to perform their respective obligations hereunder, nor is
          there any
          judgment, decree, citation, injunction, rule or order of any Governmental
          Entity
          or arbitrator outstanding against the Company or any of its Subsidiaries
          which,
          individually or in the aggregate, could reasonably be expected to have
          a
          Material Adverse Effect with respect to the Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
(1) Neither the Company nor any of its
          Subsidiaries is a party to, or bound by,
          any collective bargaining agreement, contract or other agreement or
          understanding with a labor union or labor organization; (2) to the knowledge
          of
          the Company, neither the Company nor any of its Subsidiaries is the subject
          of
          any strike, grievance or other proceeding asserting that the Company or
          any
          Subsidiary has committed an unfair labor practice or seeking to compel
          it to
          bargain with any labor organization as to wages or conditions of employment;
          (3)
          there is no strike, work stoppage or other labor dispute involving it or
          any of
          its Subsidiaries pending or, to its knowledge, threatened; (4) no grievance
          is
          pending or, to the knowledge of the Company, threatened in writing against
          the
          Company or any of its Subsidiaries which, individually or in the aggregate,
          could reasonably be expected to have a Material Adverse Effect with respect
          to
          the Company; (5) to the knowledge of the Company, the Company and each
          of its
          Subsidiaries is in material compliance with all applicable laws (domestic
          and
          foreign), agreements, contracts and policies relating to employment, employment
          practices, wages, hours, immigration matters and terms and conditions of
          employment; (6) except as set forth in Section 3.01(i)(ii)(6) of the Company
          Disclosure Schedule, the Company (or one of its Subsidiaries) has paid
          in full
          to all employees of the Company and its Subsidiaries all wages, salaries,
          commissions, bonuses, benefits and other compensation due and payable to
          such
          employees under any policy, practice, agreement, plan, program, statue
          or other
          law except for failures, if any, that, individually or in the aggregate,
          would
          not have a Material Adverse Effect with respect to the Company; (7) except
          as
          set forth in Section 3.01(i)(ii)(7) of the Company Disclosure Schedule,
          neither
          the Company nor any of its Subsidiaries is liable for any severance pay
          or other
          payments to any employee or former employee arising from the termination
          of
          employment under any benefit or severance policy, practice, agreement,
          plan, or
          program of the Company or any of its Subsidiaries, nor to the knowledge
          of the
          Company shall the Company or any of its Subsidiaries have any liability
          which
          exists or arises, or may be deemed to exist or arise, under any applicable
          law
          or otherwise, as a result of or in connection with the transactions contemplated
          hereunder or as a result of the termination by the Company of any Persons
          employed by the Company or any of its Subsidiaries on or prior to the Effective
          Time of the Merger; and (8) the Company and its Subsidiaries are in compliance
          with their respective obligations pursuant to the Worker Adjustment and
          Retraining Notification Act of 1988 ("<u>WARN</u>") and any similar state or
          local laws, and all other employee notification and bargaining obligations
          arising under any collective bargaining agreement, statute or otherwise.</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Employee Benefit Plans</u>.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; mso-list: l0 level4 lfo4">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Section 3.01(j)
          of the Company Disclosure Schedule contains a true and complete
          list of each "employee benefit plan" (within the meaning of Section 3(3)
          of the
          Employee Retirement Income Security Act of 1974, as amended ("<u>ERISA</u>")
          (including, without limitation, multiemployer plans within the meaning
          of
          Section 3(37) of ERISA or any of its foreign equivalents)), stock purchase,
          stock option, severance, employment, change-in-control, fringe benefit,
          collective bargaining, bonus, incentive, deferred compensation and all
          other
          employee benefit plans, agreements, programs, policies or other arrangements
          relating to employment, benefits or entitlements, whether or not subject
          to
          ERISA (including any funding mechanism therefor now in effect or required
          in the
          future as a result of the transactions contemplated by this Agreement or
          other
          activities taken by the Company or any of its Subsidiaries on or prior
          to the
          date of this Agreement), sponsored by the Company, any of its Subsidiaries
          or
          any other entity such as a co-employer, whether formal or informal, oral
          or
          written, legally binding or not under which any employee or former employee
          of
          the Company or any of its Subsidiaries has any present or future right
          to
          benefits based on such employee's employment with the Company or one of
          its
          Subsidiaries and under which the Company or any of its Subsidiaries has
          any
          present or future liability. &#160;All such plans, agreements, programs,
          policies and arrangements are herein collectively referred to as the "<u>Company
          Plans</u>."</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
With respect to each Company Plan, the
          Company has delivered to Parent a
          current, accurate and complete copy (or, to the extent no such copy exists,
          an
          accurate description) thereof and, to the extent applicable, (A) any related
          trust agreement, annuity contact or other funding instrument; (B) the most
          recent determination letter issued by the U.S. Internal Revenue Service
          ("<u>IRS</u>"); (C) any summary plan description and other material written
          communications (or a description of any material oral communications) by
          the
          Company or any of its Subsidiaries to its employees concerning the extent
          of the
          benefits provided under a Company Plan; and (D) for the three most recent
          years
          (I) the Form 5500 and attached schedules; (II) audited financial statements;
          (III) actuarial valuation reports; and (IV) attorney's response to an auditor's
          request for information.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
(A) Each Company Plan has been established
          and administered in accordance with
          its terms, and in compliance with the applicable provisions of ERISA, the
          Code
          and other applicable laws, rules and regulations (including the applicable
          laws,
          rules and regulations of foreign jurisdictions), in each case, in all material
          respects; (B) each Company Plan which is intended to be qualified within
          the
          meaning of Code Section 401(a) is so qualified and has received a favorable
          determination letter as to its qualification and, to the Company's knowledge,
          nothing has occurred, whether by action or failure to act, which would
          cause the
          loss of such qualification; (C) with respect to any Company Plan, no actions,
          suits or claims (other than routine claims for benefits in the ordinary
          course)
          are pending or, to the best knowledge of the Company, threatened; (D) to
          the
          Company's knowledge, no facts or circumstances exist which could give rise
          to
          any such actions, suits or claims and the Company shall promptly notify
          Parent
          in writing of any pending claims or, to the knowledge of the Company, any
          threatened claims arising between the date hereof and the Effective Time
          of the
          Merger; (E) neither the Company nor, to the Company's knowledge, any other
          party
          has engaged in a prohibited transaction, as such term is defined under
          Code
          Section 4975 or ERISA Section 406, which would subject the Company or Parent
          or
          its respective Subsidiaries to any material Taxes, penalties or other
          liabilities under the Code or ERISA; (F) no event has occurred and no condition
          exists that could reasonably be expected to subject the Company, either
          directly
          or by reason of its relationship to any member of its "<u>Controlled Group</u>"
          (defined as any organization which is deemed to be a single employer with
          the
          Company within the meaning of Code Sections 414(b), (c), (m) or (o) or
          ERISA
          Section 4001), to any material Tax, fine or penalty imposed by ERISA, the
          Code
          or other applicable laws, rules and regulations (including the applicable
          laws,
          rules and regulations of any foreign jurisdiction); (G) all contributions
          and
          payments accrued under each Company Plan, determined in accordance with
          prior
          funding and accrual practices, as of the Effective Time of the Merger have
          been
          or shall be timely paid or made prior thereto and adequate reserves have
          been
          provided for in the Company's SEC Financial Statements for any premiums
          (or
          portions thereof) and for all benefits attributable to service on or prior
          to
          the Effective Time of the Merger; (H) for each Company Plan with respect
          to
          which a Form 5500 has been filed, no material change has occurred with
          respect
          to the matters covered by the most recent Form 5500 since the date thereof;
          and
          (I) no Company Plan provides for an increase in the rate of contribution,
          benefit accrual or vesting of benefits on or after the date of this
          Agreement.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Except as disclosed in Section 3.01(j)(iv)
          of the Company Disclosure Schedule:
&#160;(A) no Company Plan nor any "pension plan" (as defined in ERISA Section
          3
          (2)) maintained or contributed to by any member of the Company's Controlled
          Group has incurred any "accumulated funding deficiency" as such term is
          defined
          in ERISA Section 302 and Code Section 412 (whether or not waived); (B)
          no event
          or condition exists which could be deemed a reportable event within the
          meaning
          of ERISA Section 4043 which could result in a liability to the Company
          or any
          member of its Controlled Group and no condition exists which could subject
          the
          Company or any member of its Controlled Group to a fine under ERISA Section
          4071; (C) as of the Effective Time of the Merger, the Company and all members
          of
          its Controlled Group have made all required premium payments when due to
          the
          Pension Benefit Guaranty Corporation (the "<u>PBGC</u>"); (D) neither the
          Company nor any member of its Controlled Group is subject to any liability
          to
          the PBGC for any plan termination occurring on or prior to the Effective
          Time of
          the Merger; (E) no amendment has occurred which has required or could require
          the Company or any member of its Controlled Group to provide security pursuant
          to Code Section 401(a)(29); and (F) neither the Company nor any member
          of its
          Controlled Group has engaged in a transaction which could subject it to
          liability under ERISA Section 4069.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
As of the Effective Time of the Merger,
          the assets of each Company Plan are at
          least equal in value to the present value of all accrued benefits (vested
          and
          unvested) of the participants in such Company Plan on a termination basis
          using
          the assumptions established by the PBGC as in effect on the most recent
          valuation date.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
(A) the Company and each member of its
          Controlled Group has or shall have, as of
          the Effective Time of the Merger, made all contributions to each multiemployer
          plan &#160;(within the meaning of 54001(a)(3) of ERISA) to which the Company or
          any member of its Controlled Group has any liability or contribution (or
          has at
          any time contributed or had an obligation to contribute) required by the
          terms
          of such multiemployer plan or any collective bargaining agreement; (B)
          neither
          the Company nor any member of its Controlled Group has incurred any material
          withdrawal liability under Title IV of ERISA or would be subject to such
          liability if, as of the Effective Time of the Merger, the Company or any
          member
          of its Controlled Group were to engage in complete withdrawal (as defined
          in
          ERISA Section 4203) or partial withdrawal (as defined in ERISA Section
          4205)
          from any such multiemployer plan; (C) no such multiemployer plan is in
          reorganization or insolvent (as those terms are defined in ERISA Sections
          4241
          and 4245, respectively); and (D) neither the Company nor any member of
          its
          Controlled Group has engaged in a transaction which could subject it to
          liability under ERISA Section 4212(c).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; (A)
          Each Company Plan which is intended to meet the requirements for Tax-favored
          treatment under Subchapter B of Chapter 1 of Subtitle A of the Code meets
          such
          requirements; and (B) the Company has received a favorable determination
          from
          the Internal Revenue Service with respect to any trust intended to be qualified
          within the meaning of Code Section 501(c)(9).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(viii)&#160;&#160;&#160;&#160;&#160; Each
          plan, program, arrangement or agreement which constitutes in any part a
          nonqualified deferred compensation plan within the meaning of Section 409A
          of
          the Code is identified as such in Section 3.01(j)(viii) of the Company
          Disclosure Schedule.&#160; Since April 30, 2004, each plan, program, arrangement
          or agreement there identified has been operated and maintained in accordance
          with a good faith, reasonable interpretation of Section 409A of the Code
          and its
          purpose, as determined under applicable guidance of the Department of Treasury
          and Internal Revenue Service, with respect to amounts deferred (within
          the
          meaning of Section 409A of the Code) after April 30, 2004.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Except as set forth in Section 3.01(j)(ix)
          of the Company Disclosure Schedule,
          no Company Plan exists which could result in the payment to any Company
          employee
          of any money or other property or rights or accelerate or provide any other
          rights or benefits to any Company employee as a result of the transaction
          contemplated by this Agreement, whether or not such payment would constitute
          a
          parachute payment within the meaning of Code section 280G.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The Company has not undertaken to maintain
          any Company Plan for any period of
          time and each Company Plan is terminable at the sole discretion of the
          sponsor
          thereof, subject only to such constraints as may imposed by applicable
          law.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Taxes</u>.&#160; The Company has timely filed all
          Tax Returns required to be
          filed by it, each such Tax Return has been prepared in compliance with
          all
          applicable laws and regulations, and all such Tax Returns are true, accurate
          and
          complete in all respects.&#160; The Company has paid all Taxes shown to be due
          on such Tax Returns.&#160; The Company has made accruals for Taxes on the SEC
          Financial Statements that are adequate to cover any Tax liability of the
          Company
          determined in accordance with generally accepted accounting principles
          through
          the date of the applicable SEC Financial Statements, and any Taxes of the
          Company arising after the date of the most recent SEC Financial Statements
          and
          at or before the Effective Time of the Merger have been or will be incurred
          in
          the ordinary course of the Company's business.&#160; Except as set forth in
          Section 3.01(k) of the Company Disclosure Schedule, the Company has timely
          withheld and timely paid all Taxes that are required to have been withheld
          and
          paid by it in connection with amounts paid or owing to any employee, independent
          contractor, creditor or other person.&#160; No outstanding deficiency or
          adjustment in respect of Taxes has been proposed, asserted or assessed
          by any
          Tax authority against the Company.&#160; The Company has not granted any
          outstanding extensions of the time in which any Tax may be assessed or
          collected
          by any Tax authority.&#160; There is no action, suit, proceeding, or audit with
          respect to any Tax now in progress, pending or, to the knowledge of the
          Company,
          threatened against or with respect to the Company.&#160; Neither the Company nor
          any of its Subsidiaries has ever been a member of any affiliated group
          of
          corporations (as defined in Section 1504(a) of the Code) other than a group
          of
          which the Company was the common parent.&#160; Neither the Company nor any of
          its Subsidiaries has ever filed or been included in a combined, consolidated
          or
          unitary Tax Return other than with respect to a group of which the Company
          was
          the common parent.&#160; The Company is neither a party to nor bound by any Tax
          sharing agreement or Tax allocation agreement.&#160; Neither the Company nor any
          of its Subsidiaries is presently liable, nor does the Company or any of
          its
          Subsidiaries have any potential liability, for the Taxes of another person
          (i)
          under Treasury Regulations Section 1.1502-6 or comparable provision of
          state,
          local or foreign law, except with respect to a group of which the Company
          was
          the common parent, (ii) as transferee or successor, or (iii) by contract
          or
          indemnity or otherwise (other than pursuant to contracts entered into with
          customers, vendors, real property lessors, or other third parties the principal
          purpose of which is not to address Tax matters).&#160; The Company has not
          participated, within the meaning of Treasury Regulations Section 1.6011-4(c),
          in
          (i) any "reportable transaction" within the meaning of Section 6011 of
          the Code
          and the Treasury Regulations thereunder, (ii) any "confidential corporate
          tax
          shelter" within the meaning of Section 6111 of the Code and the Treasury
          Regulations thereunder, (iii) any "potentially abusive tax shelter" within
          the
          meaning of Section 6112 of the Code and the Treasury Regulations thereunder,
          or
          (iv) any transaction identified as a "transaction of interest" within the
          meaning of proposed Treasury Regulations Section 1.6011-4(b)(6).&#160; The
          Company will not be required, as a result of a change in method of accounting
          for any period ending on or before or including the Effective Time of the
          Merger, to include any adjustment under Section 481(c) of the Code (or
          any
          similar or corresponding provision or requirement under any other Tax law)
          in
          Taxable income for any period ending on or after the Effective Time of
          the
          Merger.&#160; The Company will not be required to include any item of income in
          Taxable income for any Taxable period (or portion thereof) ending after
          the
          Closing Date as a result of any (i) prepaid amount received on or prior
          to the
          Closing Date, or (ii) "closing agreement" described in Section 7121 of
          the Code
          (or any similar or corresponding provision of any other Tax law).&#160; The
          Company has never been either a "distributing corporation" or a "controlled
          corporation" in connection with a distribution of stock qualifying for
          Tax-free
          treatment, in whole or in part, pursuant to Section 355 of the Code.&#160; The
          Company is not and has not been a United States real property holding
          corporation within the meaning of Code Section 897(c)(2), during the applicable
          period specified in Code Section 897(c)(1)(A)(ii).&#160; For purposes of this
          Section 3.01(k), references to the Company shall be deemed to include the
          Company and all of its Subsidiaries except where the context indicates
          otherwise.</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Properties</u>. &#160;The Company or one of its Subsidiaries
          (i) has good and
          marketable title to all the properties and assets (A) reflected in the
          2007
          Balance Sheet as being owned by the Company or one of its Subsidiaries
          (other
          than any such properties or assets sold or disposed of since such date
          in the
          ordinary course of business consistent with past practice) or (B) acquired
          after
          January 31, 2007 which are material to the Company's business on a consolidated
          basis, free and clear of all Liens. &#160;Except as set forth in Section 3.01(l)
          of the Company Disclosure Schedule, the Company or one of its Subsidiaries
          has
          good and valid leasehold interests in all real property leases, subleases
          and
          occupancy agreements to which the Company or any of its Subsidiaries is
          a party
          (the "<u>Leases</u>") and is in sole possession of the properties purported to
          be leased thereunder. &#160;Except as set forth in Section 3.01(l) of the
          Company Disclosure Schedule, each Lease is in full force and effect and
          constitutes a legal, valid and binding obligation of, and is legally enforceable
          against, the respective parties thereto. &#160;Except as set forth in Section
          3.01(l) of the Company Disclosure Schedule, there is no uncured breach,
          and no
          default exists, on the part of landlord under any of the Leases, and the
          Company
          has no knowledge of breach or default or any event, condition or state
          of facts,
          which with the giving of notice or the passage of time, or both, would
          constitute a breach or default by the Company or any of its Subsidiaries
          under
          any Lease. &#160;There is no suit, action, arbitration or other proceeding with
          respect to the Leases or the premises leased under the Leases. &#160;Neither the
          Company nor or any of its Subsidiaries has received notice and does not
          otherwise have knowledge of any pending, threatened or contemplated condemnation
          proceeding affecting any premises owned or leased by the Company or any
          of its
          Subsidiaries or any part thereof or of any sale or other disposition of
          any such
          owned or leased premises or any part thereof in lieu of condemnation. &#160;The
          real property leased to the Company or any of its Subsidiaries under the
          Leases
          encompasses all real property used by the Company and its Subsidiaries,
          and
          neither the Company nor or any of its Subsidiaries owns any real property
          and
          does not have any options to purchase real property. &#160;The landlord under
          each of the Leases has performed all initial improvements required to be
          performed by it under such Lease and all tenant improvements allowances
          have
          been paid to the Company or any of its Subsidiaries as tenant under such
          Lease.
&#160;All insurance required to be maintained by the Company or any of its
          Subsidiaries under each of the Leases is in full force and effect.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Environmental Matters</u>. &#160;Except as could not be reasonably
          expected
          to result in any liability under Environmental Laws to the Company or any
          of its
          Subsidiaries which, individually or in the aggregate, could reasonably
          be
          expected to have a Material Adverse Effect with respect to the Company:</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; mso-list: l0 level4 lfo3">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
the Company
          and its Subsidiaries hold and are in compliance with all
          Environmental Permits and the Company and its Subsidiaries are, and have
          been,
          otherwise in compliance with all Environmental Laws and, to the knowledge
          of the
          Company, there are no conditions that might prevent or interfere with such
          compliance in the future;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
neither the Company nor any of its Subsidiaries
          has received any Environmental
          Claim, and to the knowledge of the Company there is no threatened Environmental
          Claim;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
neither the Company nor any of its Subsidiaries
          has entered into any consent
          decree, order or agreement under any Environmental Law;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
there are no (A) underground storage tanks,
          (B) polychlorinated biphenyls, (C)
          friable asbestos or asbestos-containing materials, (D) sumps, (E) surface
          impoundments, (F) landfills, or (G) sewers or septic systems present at
          any
          facility currently owned, leased, operated or otherwise used by the Company
          or
          any of its Subsidiaries that could reasonably be expected to give rise
          to
          liability of the Company or any of its Subsidiaries under any Environmental
          Laws;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
there are no past (including, without
          limitation, with respect to assets or
          businesses formerly owned, leased or operated by the Company or any of
          its
          Subsidiaries) or present actions, activities, events, conditions or
          circumstances, including, without limitation, the release, threatened release,
          emission, discharge, generation, treatment, storage or disposal of Hazardous
          Materials, that could reasonably be expected to give rise to liability
          of the
          Company or any of its Subsidiaries under any Environmental Laws;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
no modification, revocation, reissuance,
          alteration, transfer, or amendment of
          the Environmental Permits, or any review by, or approval of, any third
          party of
          the Environmental Permits is required in connection with the execution
          or
          delivery of this Agreement or the consummation of the transactions contemplated
          hereby or the continuation of the business of the Company or its Subsidiaries
          following such consummation;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
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        </div>
        <div style="MARGIN: 0in 0in 12pt">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Hazardous Materials have not been generated,
          transported, treated, stored,
          disposed of, arranged to be disposed of, released or threatened to be released
          at, on, from or under any of the properties or facilities currently owned,
          leased or otherwise used by the Company or any of its Subsidiaries, in
          violation
          of or so as could result in liability under, any Environmental Laws; and</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(viii)&#160;&#160;&#160;&#160;&#160; neither
          the Company nor any of its Subsidiaries has contractually assumed any
          liabilities or obligations under any Environmental Laws.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Contracts; Debt Instruments</u>. &#160;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; mso-list: l0 level4 lfo5">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Except as set
          forth in Section 3.01(n) of the Company Disclosure Schedule,
          neither the Company nor any of its Subsidiaries is, or has received any
          notice
          or has any knowledge that any other party is, in default in any respect
          under
          any contract, agreement, commitment, arrangement, lease, policy or other
          instrument to which it or any of its Subsidiaries is a party or by which
          it or
          any such Subsidiary is bound, except for those defaults which would not,
          either
          individually or in the aggregate, have a Material Adverse Effect with respect
          to
          the Company; and, to the knowledge of the Company, there has not occurred
          any
          event that with the lapse of time or the giving of notice or both would
          constitute such a default.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The Company has delivered to Parent (x)
          true, complete and correct copies of all
          loan or credit agreements, notes, bonds, mortgages, indentures and other
          agreements and instruments pursuant to which any Indebtedness of the Company
          or
          any of its Subsidiaries is outstanding and (y) accurate information regarding
          the respective principal amounts currently outstanding thereunder.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Neither the Company nor any of its Subsidiaries
          is party to or bound by any
          agreement which, pursuant to the requirements of Form 10-KSB under the
          Exchange
          Act, would be required to be filed as an exhibit to an Annual Report on
          Form
          10-KSB of the Company except (A) agreements included or incorporated by
          reference as exhibits to the Company's Annual Report on Form 10-KSB for
          the
          fiscal year ended April 30, 2006 and (B) agreements entered into after
          the date
          of this Agreement in compliance with Section 4.01 hereof.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Brokers</u>. &#160;No broker, investment banker,
          financial advisor or other
          Person (including, without limitation, SCO Capital Partners LLC and its
          affiliates) is entitled to any broker's finder's, financial advisor's or
          other
          similar fee or commission in connection with the transactions contemplated
          by
          this Agreement based upon arrangements made by or on behalf of the Company
          or
          any of its Subsidiaries. &#160;The Company hereby indemnifies Parent and Merger
          Sub and holds Parent and Merger Sub harmless from and against any and all
          claims, liabilities or obligations with respect to any other fee, commission
          or
          expense asserted by any Person on the basis of any act or statement alleged
          to
          have been made by the Company or its affiliates.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Board Recommendation; Section 203
          of the Delaware Law</u>. &#160;The Board of
          Directors of the Company, at a meeting duly called and held, has by unanimous
          vote of those directors present (i) approved this Agreement and the Merger
          and
          has taken all actions necessary on the part of the Company to render the
          restrictions applicable to business combinations contained in Section 203
          of the
          Delaware Law inapplicable to this Agreement and the Merger and (ii) resolved
          to
          recommend that the holders of shares of the Company's capital stock approve
          this
          Agreement and the transactions contemplated herein, including the Merger.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Required Company Vote</u>. &#160;The Company Stockholder Approval
          is the only
          vote of the holders of any class or series of securities of the Company
          of any
          of its Subsidiaries necessary to approve this Agreement, the Merger and
          the
          other transactions contemplated hereby.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(r)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Intellectual Property</u>.&#160; (i) Section 3.01(r)(i) of the
          Company
          Disclosure Schedule sets forth all Intellectual Property owned by the Company
          or
          its Subsidiaries, which is registered or filed with, or has been submitted
          to,
          any Governmental Entity, and all Intellectual Property licensed from third
          parties by the Company or any of its Subsidiaries, and the nature of the
          Company's or its Subsidiaries' rights therein.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        </div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Except as set forth in Section 3.01(r)
          of the Company Disclosure Schedule, the
          Company and its Subsidiaries own or have the right to use all Intellectual
          Property necessary for the Company and its Subsidiaries to conduct their
          business as it is currently conducted and consistent with past practice.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Except as set forth on Section 3.01(r)
          of the Company Disclosure Schedule: (1)
          all of the Intellectual Property used by the Company or any of its Subsidiaries
          is subsisting and unexpired, free of all Liens, has not been abandoned
          and, to
          the knowledge of the Company, does not infringe the intellectual property
          rights
          of any third party; (2) none of the Intellectual Property used by the Company
          or
          any of its Subsidiaries is the subject of any license, security interest
          or
          other agreement to which the Company is a party granting rights therein
          to any
          third party; (3) no judgment, decree, injunction, rule or order has been
          rendered by any U.S. federal or state or foreign Governmental Entity which
          would
          limit, cancel or question the validity of, or the Company's or its Subsidiaries
          ' rights in and to any Intellectual Property in any respect that could
          reasonably be expected to have, individually or in the aggregate, a Material
          Adverse Effect with respect to the Company; (4) neither the Company nor
          or any
          of its Subsidiaries has received written notice of any pending or threatened
          suit, action or proceeding that seeks to limit, cancel or question the
          validity
          of, or the Company's or its Subsidiaries ' rights in and to any Intellectual
          Property; and (5) the Company and its Subsidiaries take reasonable steps
          to
          protect, maintain and safeguard their Intellectual Property, including
          any
          Intellectual Property for which improper or unauthorized disclosure would
          impair
          its value or validity, and have executed appropriate agreements and made
          appropriate filings and registrations in connection with the foregoing.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(s)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Permits</u>.&#160; The Company and each of its Subsidiaries
          have all permits,
          licenses and franchises from Governmental Entities required to conduct
          their
          businesses as now being conducted, except for such permits, licenses and
          franchises the absence of which, individually or in the aggregate, could
          reasonably be expected to have a Material Adverse Effect with respect to
          the
          Company (the "<u>Company Permits</u>").&#160; The Company and each of its
          Subsidiaries are in compliance with the terms of the Company Permits.&#160; No
          Company Permit shall cease to be effective as a result of the consummation
          of
          the transactions contemplated by this Agreement.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(t)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Insurance</u>.&#160; Each of the Company and its Subsidiaries
          maintains
          insurance policies (each, an "<u>Insurance Policy</u>") with reputable insurance
          carriers against all risks of a character and in such amounts as are usually
          insured against by similarly situated companies in the same or similar
          businesses.&#160; Each Insurance Policy is in full force and effect and is set
          forth in Section 3.01(t) of the Company Disclosure Schedule.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(u)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Parent SEC Documents</u>.&#160; The Company has received and reviewed
          all of
          the Parent SEC Documents.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153631">3.02.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Representations
          and Warranties of Parent and Merger Sub</u>. &#160;Except as set forth in the
          disclosure schedule (to the extent each disclosure item therein is clearly
          marked to indicate the section, paragraph or subparagraph of this Agreement
          to
          which such disclosure is an exception, referencing the same section, paragraph
          and subparagraph as used in this Agreement) delivered by Parent and Merger
          Sub
          to the Company at the time of execution of this Agreement (the "<u>Parent
          Disclosure Schedule</u>") or in the Parent SEC Documents, Parent and Merger Sub
          represent and warrant to the Company as follows:</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Organization, Standing and Corporate
          Power</u>. &#160;Each of Parent and
          Merger Sub is duly organized, validly existing and in good standing under
          the
          laws of the jurisdiction in which it is organized and has the requisite
          corporate power and authority to carry on its business as now being conducted.
          &#160;Each of Parent and Merger Sub is duly qualified or licensed to do business
          and is in good standing in each jurisdiction (domestic or foreign) in which
          the
          nature of its business or the ownership or leasing of its properties makes
          such
          qualification or licensing necessary, other than in such jurisdictions
          where the
          failure to be so qualified or licensed (individually or in the aggregate)
          would
          not have a Material Adverse Effect with respect to Parent. &#160;Parent has made
          available to the Company complete and correct copies of its certificate
          of
          incorporation and by-laws and the certificate of incorporation and by-laws
          of
          Merger Sub.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Capital Structure</u>. &#160;As of the date of this Agreement,
          the authorized
          capital stock of Parent consists of (i) 100,000,000,000 shares of Parent
          Common
          Stock and (ii) 2,000,000 shares of Parent Preferred Stock. As of the close
          of
          business on April 16, 2007, there were: (i) 3,535,358 shares of Parent
          Common
          Stock issued and outstanding; (ii) no shares of Parent Preferred Stock
          issued
          and outstanding, (iii) 163 shares of Parent Common Stock held in the treasury
          of
          Parent; (iv) 75,146 shares of Parent Common Stock reserved for issuance
          upon
          exercise of options available for grant pursuant to Parent's stock option
          plans
          (collectively, the "<u>Parent Stock Plans</u>"); (v) 1,888,704 shares of Parent
          Common Stock issuable upon exercise of awarded but unexercised stock options;
          (vi) warrants representing the right to purchase 4,826,517 shares of Parent
          Common Stock; (vii) 6,457,544 shares of Parent Common Stock reserved for
          issuance upon conversion of Parent Voting Debt; and (viii) 31,985 shares
          of
          Parent Common Stock reserved for capitalized interest on Parent Voting
          Debt.&#160; Except as set forth above, as of the close of business on April 16,
          2007 there were no shares of capital stock or other equity securities of
          Parent
          issued, reserved for issuance or outstanding. &#160;All outstanding shares of
          capital stock of Parent are, and all shares which may be issued as described
          above shall be, when issued, duly authorized, validly issued, fully paid
          and
          nonassessable and not subject to preemptive rights. &#160;The shares of Parent
          Common Stock to be issued in connection with the Merger (x)&#160;shall, when
          issued, be duly authorized, validly issued, fully paid and nonassessable
          and not
          subject to preemptive rights, and (y) shall be issued in compliance in
          all
          material respects with all applicable federal and state securities laws
          and
          applicable rules and regulations promulgated thereunder.&#160; As of the
          Effective Time of the Merger, the Board of Directors of Parent shall have
          reserved for issuance a number of shares of Parent Common Stock as is required
          by the Company Warrants to be assumed by Parent pursuant to Section 2.03.
          &#160;Except as set forth in Section 3.02(b) of the Parent Disclosure Schedule,
          there is no outstanding Voting Debt of Parent. &#160;Except as set forth above
          and in the Rights Agreement, dated as of October 31, 2001, between Parent
          and
          the American Stock Transfer &amp; Trust Company, there are no outstanding
          securities, options, warrants, calls, rights, commitments, agreements,
          arrangements or undertakings of any kind to which Parent is a party or
          by which
          it is bound obligating Parent to issue, deliver or sell, or cause to be
          issued,
          delivered or sold, additional shares of capital stock or other equity or
          voting
          securities of Parent or obligating Parent to issue, grant, extend, accelerate
          the vesting of or enter into any such security, option, warrant, call,
          right,
          commitment, agreement, arrangement or undertaking. &#160;There are no
          outstanding contractual obligations, commitments, understandings or arrangements
          of Parent to repurchase, redeem or otherwise acquire or make any payment
          in
          respect of any shares of capital stock of Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">As of the date hereof, the authorized
          capital
          stock of Merger Sub consists of 1,000 shares of common stock, par value
          $0.01
          per share, 100 of which have been validly issued, are fully paid and
          nonassessable and are owned by Parent, free and clear of any Lien, and
          as of the
          Closing Date, all the issued and outstanding shares of the common stock
          of
          Merger Sub shall be owned by Parent free and clear of any Lien.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Authority; Noncontravention</u>. &#160;Parent and Merger Sub have all
          requisite corporate power and authority to enter into this Agreement and
          to
          consummate the transactions contemplated hereby. &#160;The execution and
          delivery of this Agreement by Parent and Merger Sub and the consummation
          by
          Parent and Merger Sub of the transactions contemplated hereby have been
          duly
          authorized by all necessary corporate action on the part of Parent and
          Merger
          Sub. &#160;This Agreement has been duly executed and delivered by each of Parent
          and Merger Sub, as applicable, and (assuming due authorization, execution
          and
          delivery by the Company) constitute valid and binding obligations of Parent
          and
          Merger Sub, as applicable, enforceable against them in accordance with
          their
          terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance,
          reorganization, moratorium and other similar laws affecting creditors'
          rights
          generally, general equitable principles (whether considered in a proceeding
          in
          equity or at law) and an implied covenant of good faith and fair dealing.
          &#160;The execution and delivery of this Agreement does not, and the
          consummation by Parent and Merger Sub of the transactions contemplated
          by this
          Agreement and compliance by Merger Sub with the provisions of this Agreement
          shall not, conflict with, or result in any breach or violation of, or default
          (with or without notice or lapse of time, or both) under, or give rise
          to a
          right of termination, cancellation or acceleration of, or a "put" right
          with
          respect to any obligation under, or to a loss of a material benefit under,
          or
          result in the creation of any Lien upon any of the properties or assets
          of
          Parent or Merger Sub under (i) the certificate of incorporation or by-laws
          of
          Parent or Merger Sub, (ii)&#160;any loan or credit agreement, note, bond,
          mortgage, indenture, lease or other agreement, instrument, permit, concession,
          franchise or license applicable to Parent or Merger Sub or any of their
          respective properties or assets or (iii) subject to the governmental filings
          and
          other matters referred to in the following sentence, any judgment, order,
          decree, statute, law, ordinance, rule, regulation or arbitration award
          applicable to Parent or Merger Sub or their respective properties or assets,
          other than, in the case of clauses (ii) and (iii), any such conflicts,
          breaches,
          violations, defaults, rights, losses or Liens that individually or in the
          aggregate would not have a Material Adverse Effect with respect to Parent
          or
          prevent or materially delay the ability of Parent and Merger Sub to consummate
          the transactions contemplated by this Agreement or perform their respective
          obligations hereunder. &#160;No consent, approval, order or authorization of, or
          registration, declaration or filing with, or notice to, any Governmental
          Entity
          is required by or with respect to Parent or Merger Sub in connection with
          the
          execution and delivery of this Agreement by Parent and Merger Sub or the
          consummation by Parent and Merger Sub of any of the transactions contemplated
          hereby, except for (i) such filings, if any, may be required under the
          HSR Act
          and the filing of any required applications, if any, by Parent and Merger
          Sub
          pursuant to antitrust or similar laws in such foreign jurisdictions as
          necessary, (ii) the filing with the SEC of (A) the Form S-4 and (B) such
          reports
          under the Exchange Act as may be required in connection with this Agreement
          and
          the transactions contemplated hereby, (iii) the filing of the Certificate
          of
          Merger with the Secretary of State of the State of Delaware and appropriate
          documents with the relevant authorities of other states in which Parent
          is
          qualified to do business, (iv) such other consents, approvals, orders,
          authorizations, registrations, declarations, filings or notices as may
          be
          required under the "takeover" or "blue sky" laws of various states and
          (v) such
          other consents, approvals, orders, authorizations, registrations, declarations,
          filings or notices the failure of which to make or obtain, individually
          or in
          the aggregate, could not reasonably be expected to (x)&#160;prevent or
          materially delay consummation of the Merger or the other transactions
          contemplated hereby or performance of Parent's and Merger Sub's obligations
          hereunder or (y)&#160;have a Material Adverse Effect with respect to
          Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Parent SEC Documents; Undisclosed
          Liabilities</u>. &#160;Parent has filed
          with the SEC all reports, schedules, forms, statements and other documents
          required pursuant to the Securities Act and the Exchange Act since January
          1,
          2005 (collectively, and in each case including all exhibits and schedules
          thereto and documents incorporated by reference therein, the "<u>Parent SEC
          Documents</u>"). &#160;As of their respective dates, the Parent SEC Documents
          (other than the Parent SEC Financial Statements) complied in all material
          respects with the requirements of the Securities Act or the Exchange Act,
          as the
          case may be, and the rules and regulations of the SEC promulgated thereunder
          applicable to such Parent SEC Documents. &#160;Except to the extent that
          information contained in any Parent SEC Document has been revised or superseded
          by a later filed Parent SEC Document, none of the Parent SEC Documents
          (including any Parent SEC Financial Statements included therein) contains
          any
          untrue statement of a material fact or omits to state a material fact required
          to be stated therein or necessary in order to make the statements therein,
          in
          the light of the circumstances under which they were made, not misleading.
          &#160;The consolidated financial statements of Parent included in all Parent
          SEC
          Documents filed since January 1, 2005 (the "<u>Parent SEC Financial
          Statements</u>") comply as to form in all material respects with applicable
          published accounting requirements and the published rules and regulations
          of the
          SEC with respect thereto, have been prepared in accordance with generally
          accepted accounting principles as applied in the United States (except,
          in the
          case of unaudited consolidated quarterly statements, as permitted by Form
          10-Q
          of the SEC), applied on a consistent basis during the periods involved
          (except
          as may be indicated in the notes thereto) and fairly present the consolidated
          financial position of Parent and its consolidated subsidiaries as of the
          dates
          thereof and the consolidated results of their operations and cash flows
          for the
          periods then ended (subject, in the case of unaudited quarterly statements,
          to
          normal recurring year-end audit adjustments). &#160;Neither Parent nor any of
          its Subsidiaries has any liabilities or obligations of any nature (whether
          accrued, absolute, contingent or otherwise) required by generally accepted
          accounting principles as applied in the United States to be recognized
          or
          disclosed on a consolidated balance sheet of Parent and its Subsidiaries
          or in
          the notes thereto, except (i) liabilities reflected in the audited consolidated
          balance sheet of Parent as of December 31, 2006 and (ii) liabilities incurred
          since December 31, 2006, in the ordinary course of business consistent
          with past
          practice.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Information Supplied</u>. &#160;None of the information supplied
          or to be
          supplied by Parent or Merger Sub in writing for inclusion or incorporation
          by
          reference in (i) the Form S-4 shall, at the time the Form S-4 becomes effective
          under the Securities Act, contain any untrue statement of a material fact
          or
          omit to state any material fact required to be stated therein or necessary
          to
          make the statements therein not misleading or (ii) the Stockholder Statement
          shall, (A) at the date it is first mailed to the Company's stockholders
          and/or
          (B) at the time of the Stockholder Meeting, contain any untrue statement
          of a
          material fact or omit to state any material fact required to be stated
          therein
          or necessary to make the statements therein, in the light of the circumstances
          under which they are made, not misleading. &#160;The Form S-4 shall comply as to
          form in all material respects with the requirements of the Securities Act
          and
          the rules and regulations promulgated thereunder, except that no representation
          is made by Parent or Merger Sub with respect to statements made or incorporated
          by reference therein based on information supplied in writing by the Company
          specifically for inclusion or incorporation by reference therein.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Absence of Certain Changes or Events</u>. &#160;Since December 31, 2006,
          there is not and has not been: (i) any Material Adverse Change with respect
          to
          Parent; (ii) any condition, event or occurrence which, individually or
          in the
          aggregate, could reasonably be expected to have a Material Adverse Effect
          or
          give rise to a Material Adverse Change with respect to Parent; (iii) any
          condition, event or occurrence which, individually or in the aggregate,
          could
          reasonably be expected to prevent or materially delay the ability of Parent
          and
          Merger Sub to consummate the transactions contemplated by this Agreement
          or
          perform their respective obligations hereunder. &#160;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Litigation; Compliance with Laws</u>. &#160;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; mso-list: l0 level4 lfo6">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Except as set
          forth on Schedule 3.02(g) of the Parent Disclosure Schedules,
          there is no suit, action, claim, charge, arbitration, investigation or
          proceeding pending before a Governmental Entity, and, to the knowledge
          of
          Parent, no suit, action, claim, charge, arbitration, investigation or proceeding
          pending, in each case with respect to Parent or any of its Subsidiaries
          that,
          individually or in the aggregate, could reasonably be expected to have
          a
          Material Adverse Effect with respect to Parent or prevent or materially
          delay
          the ability of Parent and Merger Sub to consummate the transactions contemplated
          by this Agreement or to perform their respective obligations hereunder,
          nor is
          there any judgment, decree, citation, injunction, rule or order of any
          Governmental Entity or arbitrator outstanding against Parent or any of
          its
          Subsidiaries which, individually or in the aggregate, could reasonably
          be
          expected to have, a Material Adverse Effect with respect to Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; mso-list: l0 level4 lfo6">&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The businesses of Parent and its Subsidiaries
          are not being conducted in
          violation of any law (domestic or foreign), ordinance or regulation of
          any
          Governmental Entity, except for possible violations which, individually
          or in
          the aggregate, do not and would not have a Material Adverse Effect with
          respect
          to Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Interim Operations of Merger Sub</u>. &#160;Merger Sub was formed on
          April&#160;13, 2007 solely for the purpose of engaging in the transactions
          contemplated hereby, has engaged in no other business activities and has
          conducted its operations only as contemplated hereby.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Required Vote</u>. &#160;This Agreement has been approved
          by Parent, as the
          sole stockholder of Merger Sub. No other vote of holders of any class or
          series
          of securities of Parent or Merger Sub is necessary to approve this Agreement,
          the Merger and the transactions contemplated hereby.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Taxes</u>.&#160; Parent has timely filed all Tax
          Returns required to be filed
          by it, each such Tax Return has been prepared in compliance with all applicable
          laws and regulations, and all such Tax Returns are true, accurate and complete
          in all respects.&#160; Parent has paid all Taxes shown to be due on such Tax
          Returns.&#160; Parent has made accruals for Taxes on the Parent SEC Financial
          Statements that are adequate to cover any Tax liability of Parent determined
          in
          accordance with generally accepted accounting principles through the date
          of the
          applicable Parent SEC Financial Statements, and any Taxes of Parent arising
          after the date of the most recent Parent SEC Financial Statements and at
          or
          before the Effective Time of the Merger have been or will be incurred in
          the
          ordinary course of Parent's business.&#160; Parent has timely withheld and
          timely paid all Taxes that are required to have been withheld and paid
          by it in
          connection with amounts paid or owing to any employee, independent contractor,
          creditor or other person.&#160; No outstanding deficiency or adjustment in
          respect of Taxes has been proposed, asserted or assessed by any Tax authority
          against Parent.&#160; Parent has not granted any outstanding extensions of the
          time in which any Tax may be assessed or collected by any Tax authority.&#160;
There is no action, suit, proceeding, or audit with respect to any Tax
          now in
          progress, pending or, to the knowledge of Parent, threatened against or
          with
          respect to Parent.&#160; Neither Parent nor any of its Subsidiaries has ever
          been a member of any affiliated group of corporations (as defined in Section
          1504(a) of the Code) other than a group of which Parent was the common
          parent.&#160; Neither Parent nor any of its Subsidiaries has ever filed or been
          included in a combined, consolidated or unitary Tax Return other than with
          respect to a group of which Parent was the common parent.&#160; Parent is
          neither a party to nor bound by any Tax sharing agreement or Tax allocation
          agreement.&#160; Neither Parent nor any of its Subsidiaries is presently liable,
          nor does Parent or any of its Subsidiaries have any potential liability,
          for the
          Taxes of another person (i) under Treasury Regulations Section 1.1502-6
          or
          comparable provision of state, local or foreign law, except with respect
          to a
          group of which Parent was the common parent, (ii) as transferee or successor,
          or
          (iii) by contract or indemnity or otherwise (other than pursuant to contracts
          entered into with customers, vendors, real property lessors, or other third
          parties the principal purpose of which is not to address Tax matters).&#160;
Parent has not participated, within the meaning of Treasury Regulations
          Section
          1.6011-4(c), in (i) any "reportable transaction" within the meaning of
          Section
          6011 of the Code and the Treasury Regulations thereunder, (ii) any "confidential
          corporate tax shelter" within the meaning of Section 6111 of the Code and
          the
          Treasury Regulations thereunder, (iii) any "potentially abusive tax shelter"
          within the meaning of Section 6112 of the Code and the Treasury Regulations
          thereunder, or (iv) any transaction identified as a "transaction of interest"
          within the meaning of proposed Treasury Regulations Section
          1.6011-4(b)(6).&#160; Parent will not be required, as a result of a change in
          method of accounting for any period ending on or before or including the
          Effective Time of the Merger, to include any adjustment under Section 481(c)
          of
          the Code (or any similar or corresponding provision or requirement under
          any
          other Tax law) in Taxable income for any period ending on or after the
          Effective
          Time of the Merger.&#160; Parent will not be required to include any item of
          income in Taxable income for any Taxable period (or portion thereof) ending
          after the Closing Date as a result of any (i) prepaid amount received on
          or
          prior to the Closing Date, or (ii) "closing agreement" described in Section
          7121
          of the Code (or any similar or corresponding provision of any other Tax
          law).&#160; Parent has never been either a "distributing corporation" or a
          "controlled corporation" in connection with a distribution of stock qualifying
          for Tax-free treatment, in whole or in part, pursuant to Section 355 of
          the
          Code.&#160; Parent is not and has not been a United States real property holding
          corporation within the meaning of Code Section 897(c)(2), during the applicable
          period specified in Code Section 897(c)(1)(A)(ii).&#160; For purposes of this
          Section 3.02(j), references to Parent shall be deemed to include Parent
          and all
          of its Subsidiaries except where the context indicates otherwise.&#160; </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Brokers</u>. &#160;Except as set forth on Schedule
          3.02(k) of the Parent
          Disclosure Schedules, no broker, investment banker, financial advisor or
          other
          Person (including, without limitation, SCO Capital Partners LLC and its
          affiliates) is entitled to any broker's finder's, financial advisor's or
          other
          similar fee or commission in connection with the transactions contemplated
          by
          this Agreement based upon arrangements made by or on behalf of Parent.
          &#160;Parent hereby indemnifies the Company and holds the Company harmless from
          and against any and all claims, liabilities or obligations with respect
          to any
          other fee, commission or expense asserted by any Person on the basis of
          any act
          or statement alleged to have been made by Parent or its affiliates.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align="center"><a name="_Toc164153632">ARTICLE
          IV.<br><br>COVENANTS RELATING TO CONDUCT OF BUSINESS
          PRIOR TO MERGER </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153633">4.01.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Conduct
          of
          Business by the Company</u>.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
During the period from the date of this
          Agreement to the Effective Time of the
          Merger (except as otherwise expressly contemplated by the terms of this
          Agreement or agreed to in writing by Parent), the Company shall, and shall
          cause
          its Subsidiaries to, act and carry on their respective businesses in the
          ordinary course of business consistent with past practice and use its and
          their
          respective reasonable best efforts to preserve substantially intact their
          current business organizations, keep available the services of their current
          officers and employees and preserve their relationships with customers,
          supplies, licensors, licensees, advertisers, distributors and others having
          significant business dealings with them. &#160;Without limiting the generality
          of the foregoing, during the period from the date of this Agreement to
          the
          Effective Time of the Merger, except as otherwise expressly contemplated
          by the
          terms of this Agreement, the Company Disclosure Schedule or agreed to in
          writing
          by Parent, the Company shall not, and shall not permit any of its Subsidiaries
          to:</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
(x) except for the payment of dividends
          on the Company Preferred Stock (by the
          issuance of shares of Company Common Stock solely to the extent permitted
          pursuant to the terms of this Agreement), declare, set aside or pay any
          dividends on, or make any other distributions in respect of, any of its
          capital
          stock, other than dividends and distributions by a direct or indirect
          wholly-owned domestic Subsidiary of the Company to its parent, (y) split,
          combine or reclassify any capital stock of the Company or any Subsidiary
          or
          issue or authorize the issuance of any other securities in respect of,
          in lieu
          of or in substitution for shares of capital stock of the Company or any
          Subsidiary, or (z) purchase, redeem or otherwise acquire any shares of
          capital
          stock of the Company or any of its Subsidiaries or any other securities
          thereof
          or any rights, warrants or options to acquire any such shares or other
          securities;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
authorize for issuance, issue, deliver,
          sell, pledge or otherwise encumber any
          such shares of its capital stock or the capital stock of any of its
          Subsidiaries, any other voting securities or any securities convertible
          into, or
          any rights, warrants or options to acquire, any shares, voting securities
          or
          convertible securities or any other securities or equity equivalents (including,
          without limitation, stock appreciation rights), other than the issuance
          of
          Company Common Stock upon (a) the exercise of Company Stock Options awarded
          but
          unexercised on the date of this Agreement in accordance with their present
          terms, or (b) the conversion of the Company Preferred Stock;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
amend the Certificate of Incorporation,
          By-laws or other comparable charter or
          organizational documents of the Company or any Subsidiary;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
acquire or agree to acquire by merging
          or consolidating with, or by purchasing a
          substantial portion of the stock or assets of, or by any other manner,
          any
          business or any corporation, partnership, joint venture, association or
          other
          business organization or division thereof;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
sell, lease, license, mortgage or otherwise
          encumber or subject to any Lien or
          otherwise dispose of any of its properties or assets, except sales of inventory
          and receivables in the ordinary course of business consistent with past
          practice;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
(A) incur any Indebtedness or guarantee
          any Indebtedness of another Person or
          amend, terminate or seek a waiver with respect to any existing agreement
          of the
          Company evidencing Indebtedness of the Company, issue or sell any debt
          securities or warrants or other rights to acquire any debt securities of
          the
          Company or any of its Subsidiaries, guarantee any debt securities of another
          Person, enter into any "keep well" or other agreement to maintain any financial
          statement condition of another Person or enter to any arrangement having
          the
          economic effect of any of the foregoing, except for intercompany Indebtedness
          between the Company and its wholly-owned Subsidiaries or between such
          wholly-owned Subsidiaries, or (B) make any loans, advances or capital
          contributions to, or investments in, any other Person;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
acquire or agree to acquire any assets,
          other than inventory in the ordinary
          course of business consistent with past practice, or make or agree to make
          any
          capital expenditures;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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          </div>
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          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt">(viii)&#160;&#160;&#160;&#160;&#160; pay,
          discharge or satisfy any claims (including claims of stockholders), liabilities
          or obligations (absolute, accrued, asserted or unasserted, contingent or
          otherwise), except for the payment, discharge or satisfaction of (x) liabilities
          or obligations in the ordinary course of business consistent with past
          practice
          or in accordance with their terms as in effect on the date hereof or (y)
          claims
          settled or compromised to the extent permitted by Section 4.01(a)(xii),
          or,
          except as set forth in the Company Disclosure Schedule, waive, release,
          grant,
          or transfer any rights of material value or modify or change in any material
          respect any existing material license, lease, contract or other document;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
adopt a plan of complete or partial liquidation
          or resolutions providing for or
          authorizing such a liquidation or a dissolution, merger, consolidation,
          restructuring, recapitalization or reorganization;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
enter into or amend any collective bargaining
          agreement;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(xi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
change any material accounting principle
          used by it, except as required by
          generally accepted accounting principles as applied in the United States;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(xii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
settle or compromise any litigation (whether
          or not commenced prior to the date
          of this Agreement);</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(xiii)&#160;&#160;&#160;&#160;&#160; engage in
          any transaction with, or enter into any agreement, arrangement, or understanding
          with, directly or indirectly, any of the Company's affiliates (other than
          Subsidiaries of the Company);</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(xiv)&#160;&#160;&#160;&#160;&#160;&#160;
transfer to any Person any rights to its
          Intellectual Property;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(xv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
enter into or amend any agreement pursuant
          to which any other party is granted
          exclusive marketing or other exclusive rights of any type or scope with
          respect
          to any of its products or technology; </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(xvi)&#160;&#160;&#160;&#160;&#160;&#160; make
          any material Tax election or settle or compromise any material federal,
          state,
          local or foreign Tax liability; or </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(xvii)&#160;&#160;&#160;&#160; authorize, or
          commit or agree to take, any of the foregoing actions.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Changes in Employment Arrangements</u>. &#160;Except as otherwise agreed to
          in writing by Parent, neither the Company nor any of its Subsidiaries shall
          adopt or amend (except as may be required by law) any bonus, profit sharing,
          compensation, stock option, pension, retirement, deferred compensation,
          employment or other employment benefit plan, agreement, trust, fund or
          other
          arrangement for the benefit or welfare of any employee, director or former
          director or employee or increase the compensation or fringe benefits of
          any
          director, employee or former director or employee or pay any benefit not
          required by any existing plan, arrangement or agreement.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Severance</u>. &#160;Neither the Company nor any of
          its Subsidiaries shall
          grant any new or modified severance or termination arrangement or increase
          or
          accelerate any benefits payable under its severance or termination pay
          policies
          in effect on the date hereof.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>WARN</u>. &#160;Neither the Company nor any of
          its Subsidiaries shall
          effectuate a "plant closing" or "mass layoff," as those terms are defined
          in
          WARN, affecting in whole or in part any site of employment, facility, operating
          unit or employee of the Company or any Subsidiary, without notifying Parent
          in
          advance and without complying with the notice requirements and other provisions
          of WARN and any similar state or local law.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Tax Free Reorganization Treatment</u>. &#160;The Company and Parent shall
          not, and shall not permit any of their respective Subsidiaries to, intentionally
          take or cause to be taken any action not otherwise consistent with the
          transactions contemplated by this Agreement which could reasonably be expected
          to prevent the Merger from qualifying as a "reorganization" within the
          meaning
          of Section 368(a) of the Code.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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          </div>
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            </div>
          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Other Actions</u>. &#160;Neither the Company nor Parent
          shall, or shall
          permit any of its Subsidiaries to, intentionally take any action that could
          reasonably be expected to result in any of its representations and warranties
          set forth in this Agreement being or becoming untrue in any material respect,
          or
          in any of the conditions to the Merger set forth in Article VI not being
          satisfied; provided that the Company and its Board of Directors shall not
          be
          required to take or be prohibited from taking any action to the extent
          that such
          action is not required to be taken or is permitted, as applicable, pursuant
          to
          Section 5.06 of this Agreement. &#160;The Company and Parent shall promptly
          advise the other party orally and in writing of (i) any representation
          or
          warranty becoming untrue, (ii) the failure by such party to comply with
          any
          covenant, condition or agreement hereunder and (iii) any event which could
          reasonably be expected to cause the conditions set forth in Article VI
          not being
          satisfied; provided, however, that no such notice shall affect the
          representations, warranties, covenants and agreement of the parties or
          the
          conditions to their obligations hereunder.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align="center"><a name="_Toc164153634">ARTICLE
          V.<br><br>ADDITIONAL AGREEMENTS </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153635">5.01.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Preparation
          of
          Form S-4 and Stockholder Statement; Stockholder Meeting</u>. &#160;</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
As soon as practicable following the date
          of this Agreement, Parent and the
          Company shall prepare the Stockholder Statement and the Form S-4, and Parent
          shall file with the SEC the Form S-4, in which the Stockholder Statement
          shall
          be included.&#160; Each party shall notify the other party promptly upon the
          receipt of any comments from the SEC or its staff and of any request by
          the SEC
          or its staff or any government officials for amendments or supplements
          to the
          Form S-4 or the Stockholder Statement, or for any other filing or for additional
          information and shall supply the other party with copies of all correspondence
          between such party or any of its representatives, on the one hand, and
          the SEC,
          or its staff or any other government officials, on the other hand, with
          respect
          to the Form S-4, the Stockholder Statement, the Merger or any other filing.
          &#160;Parent and the Company shall each use its reasonable best efforts to have
          the Form S-4 declared effective under the Securities Act as promptly as
          practicable after such filing. &#160;The Company shall use its reasonable best
          efforts to cause the Stockholder Statement to be mailed to the Company's
          stockholders as promptly as practicable after the Form S-4 is declared
          effective
          under the Securities Act. &#160;Parent shall also take any action (other than
          qualifying to do business in any state in which it is not now so qualified
          or
          filing a general consent to service of process) required to be taken under
          any
          applicable state securities laws in connection with the registration and
          qualification of the Parent Common Stock to be issued in the Merger, and
          the
          Company shall furnish all information relating to the Company and its
          stockholders as may be reasonably requested in connection with any such
          action.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The Company shall, as promptly as practicable
          following the date of this
          Agreement and in consultation with Parent, duly call, give notice of, convene
          and hold a meeting of its stockholders (the "<u>Stockholder Meeting</u>") for
          the purpose of approving this Agreement and the transactions contemplated
          by
          this Agreement to the extent required by Delaware Law. &#160;The Company shall,
          through its Board of Directors, recommend to its stockholders approval
          of the
          foregoing matters, as set forth in Section 3.01(p); provided, however,
          that the
          Board of Directors of the Company may fail to make or withdraw or modify
          such
          recommendation, but only to the extent that the Board of Directors of the
          Company shall have concluded in good faith on the basis of advice from
          outside
          counsel that such action is required in order to satisfy its fiduciary
          duties to
          the stockholders of the Company under applicable law. &#160;Any such
          recommendation shall be included in the Stockholder Statement. &#160;The Company
          shall use its reasonable best efforts to hold the Stockholder Meeting as
          soon as
          practicable after the Form S-4 shall have been declared effective.&#160; </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153636">5.02.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Access
          to
          Information; Confidentiality</u>.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Each of the Company and Parent shall,
          and shall cause its Subsidiaries,
          officers, employees, counsel, financial advisors and other representatives
          to,
          afford to the other party and its representatives reasonable access during
          normal business hours, during the period prior to the Effective Time of
          the
          Merger to its properties, books, contracts, commitments, personnel and
          records,
          and, during such period, each of the Company and Parent shall, and shall
          cause
          its Subsidiaries, officers, employees and representatives to, furnish promptly
          to the other documents filed by it during such period pursuant to the
          requirements of federal or state securities laws and (ii) all other information
          concerning its business, properties, financial condition, operations and
          personnel as such other party may from time to time reasonably request.
          Each of
          the Company and Parent shall hold, and shall cause its respective directors,
          officers, employees, accountants, counsel, financial advisors and other
          representatives and affiliates to hold, any nonpublic information in confidence
          to the extent required by, and in accordance with, the provisions of the
          confidentiality agreement, dated February 23, 2007, between Parent and
          the
          Company (the "<u>Confidentiality Agreement</u>").</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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          </div>
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          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
No investigation pursuant to this Section
          5.02 shall affect any representations
          or warranties of the parties herein or the conditions to the obligations
          of the
          parties hereto.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153637">5.03.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Reasonable
          Best
          Efforts</u>. &#160;</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Upon the terms and subject to the conditions
          set forth in this Agreement, each
          of the parties agrees to use its reasonable best efforts to take, or cause
          to be
          taken, all actions, and to do, or cause to be done, and to assist and cooperate
          with the other parties in doing, all things necessary, proper or advisable
          under
          applicable laws and regulations to consummate and make effective, in the
          most
          expeditious manner practicable, the Merger and the other transactions
          contemplated by this Agreement, including (i) obtaining all consents, approvals,
          waivers, licenses, permits or authorizations as are required to be obtained
          (or,
          which if not obtained, would result in an event of default, termination
          or
          acceleration of any agreement or any put right under any agreement) under
          any
          applicable law or regulation or from any Governmental Entities or third
          parties
          in connection with the transactions contemplated by this Agreement, (ii)
          defending any lawsuits or other proceedings challenging this Agreement
          and (iii)
          accepting and delivering additional instruments necessary to consummate
          the
          transaction contemplated by this Agreement, (iv) in the case of the Company,
          delivering proper notice to its stockholders in accordance with Delaware
          Law of
          such stockholders' appraisal rights under Delaware Law and (v) satisfying
          the
          conditions to closing set forth under Article VI hereof.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
In furtherance of the foregoing, if required
          by the HSR Act, Parent and the
          Company agree to file with the Antitrust Division of the United States
          Department of Justice and the Federal Trade Commission a Notification and
          Report
          Form in accordance with the notification requirements of the HSR Act, and
          to use
          their reasonable best efforts to achieve the prompt termination or expiration
          of
          the waiting period or any extension thereof provided for under the HSR
          Act as a
          prerequisite to the consummation of the transactions provided for herein.
          Nothing in this paragraph shall be construed as requiring any party to
          this
          Agreement or its affiliates to (i) sell or otherwise dispose of any of
          its
          assets or voting securities other than as otherwise contemplated by this
          Agreement or (ii) take any action which either would result in a Material
          Adverse Change with respect to any such party.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153638">5.04.&#160;&#160;&#160;&#160;&#160;&#160;
          <u>Indemnification</u>.&#160; </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
From and after the Effective Time of the
          Merger, Parent and the Surviving
          Corporation shall jointly and severally indemnify, defend and hold harmless
          each
          person who is now, or has been at any time prior to the date hereof or
          who
          becomes prior to the Effective Time of the Merger eligible for indemnification
          pursuant to the Certificate of Incorporation and By-laws (or comparable
          organizational documents) of the Company or any agreement of indemnification
          with the Company, in each case as the same existed on the date of this
          Agreement
          (the "<u>Indemnified Parties</u>") against (i) all losses, claims, fines,
          damages, costs, expenses (including, without limitation, reasonable attorneys'
          fees), liabilities or judgments, or amounts that are paid in settlement
          of or in
          connection with any claim, action, suit, proceeding or investigation (whether
          civil, criminal or administrative) based in whole or in part on or arising
          in
          whole or in part out of the fact that such person is or was a director,
          officer
          or employee of the Company or such Subsidiary, pertaining to any matter
          existing
          or occurring at or prior to the Effective Time of the Merger, whether asserted
          or claimed prior to, or at or after, the Effective Time of the Merger
          ("<u>Indemnified Liabilities</u>") and (ii) all Indemnified Liabilities based in
          whole or in part on, or arising in whole or in part out of, or pertaining
          to
          this Agreement or the transaction contemplated hereby, in each case to
          the
          extent the Company or its Subsidiaries would have been permitted under
          the
          Certificate of Incorporation and By-laws (or comparable organizational
          documents) or any agreement of indemnification with the Company to indemnify
          such person, in each case as the same existed on the date of this Agreement.
          &#160;In the event any such claim, action, suit, proceeding or investigation
          is
          brought against any Indemnified Parties (whether arising before or after
          the
          Effective Time of the Merger), (i) any counsel retained by the Indemnified
          Parties for any period after the Effective Time of the Merger shall be
          reasonably satisfactory to Parent; (ii) after the Effective Time of the
          Merger,
          Parent or the Surviving Corporation shall pay all reasonable fees and expenses
          of such counsel for the Indemnified Parties promptly as statements therefor
          are
          received; and (iii) after the Effective Time of the Merger, Parent and
          the
          Surviving Corporation shall cooperate in the defense of any such matter,
          provided that neither Parent nor the Surviving Corporation shall be liable
          for
          any settlement of any claim effected without its written consent, which
          consent
          shall not be unreasonably withheld. &#160;Any Indemnified Party wishing to claim
          indemnification under this Section 5.04, upon learning of any such claim,
          action, suit, proceeding or investigation, shall notify Parent and the
          Surviving
          Corporation (but the failure so to notify Parent and the Surviving Corporation
          shall not relieve either from any liability which it may have under this
          Section
          5.04 except to the extent such failure materially prejudices Parent and
          the
          Surviving Corporation). &#160;Parent and the Surviving Corporation shall be
          liable for the fees and expenses hereunder with respect to only one law
          firm to
          represent the Indemnified Parties as a group with respect to each such
          matter
          unless there is, under applicable standards of professional conduct, a
          conflict
          between the positions of any two or more Indemnified Parties that would
          preclude
          or render inadvisable joint or multiple representation of such parties.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
If Parent or the Surviving Corporation
          or any of their respective successors or
          assigns (i) shall consolidate with or merge into any other corporation
          or entity
          and shall not be the continuing or surviving corporation or entity of such
          consolidation or merger or (ii)&#160;shall transfer all or substantially all of
          its properties and assets to any individual, corporation or other entity,
          then,
          and in each such case, proper provisions shall be made so that the successors
          and assigns of Parent or the Surviving Corporation shall assume all of
          the
          obligations set forth in this Section 5.04.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The provisions of this Section 5.04 are
          intended to be for the benefit of, and
          shall be enforceable by, each of the Indemnified Parties.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The rights of the Indemnified Parties
          under this Section 5.04 shall be in
          addition to any rights such Indemnified Parties may have under the certificates
          of incorporation or by-laws of the Company or any of its Subsidiaries,
          or under
          any applicable contracts or laws.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160; Parent
          shall pay the reasonable costs to obtain a tail Director and Officer insurance
          policy selected by Parent and covering the officers and directors of the
          Company
          effective as of the Effective Time and for a period of six (6) years following
          the Effective Time, <u>provided</u> that Parent shall not be required to pay
          more than $150,000 for such policy.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153639">5.05.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Public
          Announcements</u>. &#160;Neither Parent and Merger Sub, on the one hand, nor the
          Company, on the other hand, shall issue any press release or public statement
          with respect to the transactions contemplated by this Agreement, including
          the
          Merger, without the other party's prior consent (such consent not to be
          unreasonably withheld or delayed), except as may be required by applicable
          law,
          court process or by obligations pursuant to any agreement with any securities
          exchange or quotation system on which securities of the disclosing party
          are
          listed or quoted. In addition to the foregoing, Parent, Merger Sub and
          the
          Company shall consult with each other before issuing, and provide each
          other the
          opportunity to review and comment upon, any such press release or other
          public
          statements with respect to such transactions. The parties agree that the
          initial
          press release or releases to be issued with respect to the transactions
          contemplated by this Agreement shall be mutually agreed upon prior to the
          issuance thereof.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153640">5.06.&#160;&#160;&#160;&#160;&#160;&#160;
<u>No
          Solicitation</u>. &#160;Neither the Company nor any of its Subsidiaries shall
          (whether directly or indirectly through advisors, agents or other
          intermediaries), nor shall the Company or any of its Subsidiaries authorize
          or
          permit any of its or their officers, directors, agents, representatives,
          advisors or Subsidiaries to, (a) solicit, initiate or take any action knowingly
          to facilitate the submission of inquiries, proposals or offers from any
          Person
          (other than Merger Sub or Parent) relating to (i) any acquisition or purchase
          of
          33.33% or more of the consolidated assets of the Company and its Subsidiaries
          or
          of over 33.33% of any class of equity securities of the Company or any
          of its
          Subsidiaries, (ii) any tender offer (including a self tender offer) or
          exchange
          offer that if consummated would result in any Person beneficially owning
          33.33%
          or more of any class of equity securities of the Company or any of its
          Subsidiaries, (iii) any merger, consolidation, business combination, sale
          of
          substantially all assets, recapitalization, liquidation, dissolution or
          similar
          transaction involving the Company or any of its Subsidiaries whose assets,
          individually or in the aggregate, constitute more than 33.33% of the
          consolidated assets of the Company other than the transactions contemplated
          by
          this Agreement, or (iv) any other transaction the consummation of which
          would or
          could reasonably be expected to impede, interfere with, prevent or materially
          delay the Merger (collectively, "<u>Transaction Proposals</u>"), or agree to or
          endorse any Transaction Proposal, or (b) enter into or participate in any
          discussions or negotiations regarding any of the forgoing, or furnish to
          any
          other Person any information with respect to its business, properties or
          assets
          or any of the foregoing, or otherwise cooperate in any way with, or knowingly
          assist or participate in, facilitate or encourage, any effort or attempt
          by any
          other Person (other than Merger Sub or Parent) to do or seek any of the
          foregoing; provided, however, that the foregoing shall not prohibit the
          Company
          (either directly or indirectly through advisors, agents or other intermediaries)
          from (i) furnishing information pursuant to an appropriate confidentiality
          letter (which letter shall not be less favorable to the Company in any
          material
          respect than the </a>Confidentiality Agreement, a copy of which shall be
          provided for informational purposes only to Parent) concerning the Company
          and
          its businesses, properties or assets to a third party who has made a bona
          fide
          Transaction Proposal, (ii) engaging in discussions or negotiations with
          such a
          third party who has made a bona fide Transaction Proposal, (iii) following
          receipt of a bona fide Transaction Proposal, taking and disclosing to its
          stockholders a position contemplated by Rule 14d-9 or Rule 14e-2(a) under
          the
          Exchange Act or otherwise making disclosure to its stockholders, (iv) following
          receipt of a bona fide Transaction Proposal, failing to make or withdrawing
          or
          modifying its recommendation referred to in Section 3.01(p), and/or (v)
          taking
          any action required to be taken by the Company pursuant to a non-appealable,
          final order by any court of competent jurisdiction, but in each case referred
          to
          in the foregoing clauses (i) through (iv) only to the extent that the Board
          of
          Directors of the Company shall have concluded in good faith on the basis
          of
          advice from outside counsel that such action is required in order to satisfy
          its
          fiduciary duties to the stockholders of the Company under applicable law;
          provided, further, that the Board of Directors of the Company shall not
          take any
          of the foregoing actions referred to in clauses (i) through (iv) until
          after
          prompt advance notice to Parent (which notice shall in no event be given
          less
          than two (2) business day prior to furnishing such information or entering
          into
          such discussions) with respect to such action and that such Board of Directors
          shall, to the extent consistent with its fiduciary duties, continue to
          advise
          Parent after taking such action and, in addition, if such Board of Directors
          receives a Transaction Proposal, then the Company shall promptly inform
          Parent
          of the terms and conditions of such proposal and the identity of the Person
          making it. The Company shall immediately cease and cause its advisors,
          agents
          and other intermediaries to cease any and all existing activities, discussions
          or negotiations with any parties conducted heretofore with respect to any
          of the
          foregoing, and shall use its reasonable best efforts to cause any such
          parties
          in possession of confidential information about the Company that was furnished
          by or on behalf of the Company to return or destroy all such information
          in the
          possession of any such party or in the possession of any agent or advisor
          of any
          such party. </div>
        <div>&#160;</div>
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        </div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153641">5.07.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Letters
          of the
          Company's Accountants</u>. &#160;The Company shall use its reasonable best
          efforts to cause to be delivered to Parent a letter of Stonefield Josephson,
          the
          Company's independent public accountants, dated a date within two business
          days
          before the Form S-4 shall become effective, addressed to Parent, in form
          and
          substance reasonably satisfactory to the Company and customary in scope
          and
          substance for letters delivered by independent public accountants in connection
          with registration statements similar to the Form S-4.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153642">5.08.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Letters
          of
          Parent's Accountants</u>. &#160;Parent shall use its reasonable best efforts to
          cause to be delivered to the Company a letter of Whitley Penn LLP, Parent's
          independent public accountants, dated a date within two business days before
          the
          Form S-4 shall become effective, addressed to the Company, in form and
          substance
          reasonably satisfactory to the Company and customary in scope and substance
          for
          letters delivered by independent public accountants in connection with
          registration statements similar to the Form S-4.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153643">5.09.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Information
          Supplied</u>. &#160;The Company shall use its reasonable best efforts to provide
          to Parent no later than April 30, 2007 all information reasonably requested
          by
          Parent for Parent to determine (i) whether any payment resulting from any
          agreement, contract, plan or other arrangement (separately or in the aggregate)
          to which either the Company or any of its Subsidiaries is a party would
          be an
          "excess parachute payment" within the meaning of Section 280G of the Code
          (without regard to the exceptions set forth in Sections 280G(b)(4) and
          280G(b)(5) of the Code) as a result of any of the transactions contemplated
          by
          this Agreement, and (ii) the amount of such excess parachute payments,
          if
          any.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153644">5.10.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Exemption
          from
          Liability Under Section&#160;16(b).</u></a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The Board of Directors of Parent, or a
          committee thereof consisting of
          non-employee directors (as such term is defined for purposes of Rule 16b-3(d)
          under the Exchange Act), shall adopt a resolution in advance of the Effective
          Time of the Merger providing that the receipt by any Company Insiders of
          options
          to purchase Parent Common Stock, in each case pursuant to the transactions
          contemplated hereby and to the extent such securities are listed in the
          Section&#160;16 Information, is intended to be exempt pursuant to Rule 16b-3
          under the Exchange Act.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
For purposes of this Agreement, "Section&#160;16 Information" means information
          regarding the Company Insiders and the number of shares of Company Common
          Stock
          or other Company equity securities deemed to be beneficially owned by each
          such
          Company Insider and expected to be exchanged for options to purchase Parent
          Common Stock in connection with the Merger, which shall be provided by
          the
          Company to Parent at least ten (10) business days prior to the Closing.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
For purposes of this Agreement, "Company
          Insiders" means those officers and
          directors of the Company who immediately after the Closing become subject
          to the
          reporting requirements of Section&#160;16(a) of the Exchange Act with respect to
          equity securities of Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; PAGE-BREAK-AFTER: auto"><a name="_Toc164153645">5.11.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Repayment
          of
          Certain Company Payables</u>.&#160; Section 5.11 of the Company Disclosure
          Schedule contains a complete and accurate list of the Company's accounts
          payable
          and other liabilities as of the date of this Agreement, identifying the
          applicable payee and the amount owed to such payee.&#160; Immediately prior to
          the Closing, the Company shall provide to Parent an updated Section 5.11
          of the
          Company Disclosure Schedule setting forth any additional amounts owed to
          any
          third party.&#160; Subject to Section 6.02(l), Parent shall concurrently with
          the Closing initiate wire transfers in accordance with the Flow of Funds
          Memorandum to the payees listed therein for such amounts listed
          therein.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; PAGE-BREAK-AFTER: auto"><a name="_Toc164153646">5.12.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Affiliate
          Letters</u>.&#160; The Company will use its commercially reasonable efforts to
          cause each person whom the Company believes may be deemed to be an "affiliate"
          of the Company, as that term is defined for purposes of paragraphs (c)
          and (d)
          of Rule 145 under the Securities Act, to execute and deliver to it as promptly
          as practicable an executed copy of an affiliate letter substantially in
          the form
          of <u>Exhibit&#160;B</u> attached hereto.&#160; The Company acknowledges that
          the shares of Parent Common Stock issued to such affiliates will contain
          an
          appropriate legend referring to the restrictions contained in Rule 145
          and may
          be subject to stop order instructions with respect thereto.</a></div>
        <div>&#160;</div>
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          </div>
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            </div>
          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt; PAGE-BREAK-AFTER: auto"><a name="_Toc164153647">5.13.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Termination
          of
          Company Plans</u></a>.&#160; Effective no later than the day immediately
          preceding the Closing Date but contingent upon the Closing, the Company
          shall
          terminate any and all Company Plans intended to include a Code
          Section&#160;401(k) arrangement (collectively, the "<u>Terminated Company
          Plans</u>").&#160; The Company shall provide Parent with evidence that such
          Terminated Company Plan(s) have been terminated (effective no later than
          the day
          immediately preceding the Closing Date) in accordance with each such Terminated
          Company Plan&#8217;s respective terms.&#160; The Company also shall take such other
          actions in furtherance of terminating such Terminated Company Plan(s) as
          Parent
          may reasonably require.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align="center"><a name="_Toc164153648">ARTICLE
          VI.<br><br>CONDITIONS PRECEDENT </a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153649">6.01.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Conditions
          to
          each Party's Obligation to Effect the Merger</u>. &#160;The respective
          obligation of each party to effect the Merger is subject to the satisfaction
          or
          waiver on or prior to the Closing Date of the following conditions:</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Company Stockholder Approval</u>. &#160;The Company Stockholder Approval
          shall have been obtained.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>HSR Act</u>. &#160;The waiting period (and any extension
          thereof), if any,
          applicable to the Merger under the HSR Act shall have been terminated or
          shall
          have expired.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>No Injunctions or Restraints</u>. &#160;No temporary restraining order,
          preliminary or permanent injunction or other order issued by any court
          of
          competent jurisdiction or other legal restraint or prohibition preventing
          the
          consummation of the Merger shall be in effect; provided, however, that
          the
          parties hereto shall use their best efforts to have any such injunction,
          order,
          restraint or prohibition vacated.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Form S-4</u>. &#160;The Form S-4 shall have become
          effective under the
          Securities Act and shall not be the subject of any stop order or proceedings
          seeking a stop order, and any material "blue sky" and other state securities
          laws applicable to the registration and qualification of Parent Common
          Stock
          issuable or required to be reserved for issuance pursuant to this Agreement
          shall have been complied with.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Governmental Approvals</u>. &#160;Other than the filing of the Certificate
          of
          Merger, all authorizations, consents, orders or approvals of, or declarations
          or
          filings with, or expirations of waiting periods imposed by, any Governmental
          Entity in connection with the Merger and the consummation of the other
          transactions contemplated by this Agreement, the failure of which to file,
          obtain or occur is reasonably likely to have a Material Adverse Effect
          with
          respect to Parent or a Material Adverse Effect with respect to the Company,
          shall have been filed, been obtained or occurred on terms and conditions
          which
          would not reasonably be likely to have a Material Adverse Effect with respect
          to
          Parent or a Material Adverse Effect with respect to the Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Stockholder Statement</u>.&#160; No stop order suspending the use
          of the
          Stockholder Statement shall have been issued and no proceeding for that
          purpose
          shall have been initiated or threatened in writing by the SEC or its
          staff.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Flow of Funds Memorandum</u>.&#160; Parent and the Company shall have
          executed and delivered a mutually agreeable Flow of Funds Memorandum setting
          forth certain payments to be made by Parent concurrently with the Closing
          (the
&#8220;<u>Flow of Funds Memorandum</u>&#8221;).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153650">6.02.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Conditions
          to
          Obligations of Parent and Merger Sub</u>. &#160;The obligations of Parent and
          Merger Sub to effect the Merger are further subject to the following
          conditions:</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Representations and Warranties</u>. &#160;The representations and warranties
          of the Company set forth in this Agreement shall be true and correct in
          each
          case as of the date of this Agreement and (except to the extent such
          representations and warranties speak as of an earlier date) as of the Closing
          Date as though made on and as of the Closing Date, except where the failure
          of
          such representations and warranties to be so true and correct (without
          giving
          effect to any limitation as to "materiality" or "Material Adverse Effect"
          set
          forth therein) would not individually or in the aggregate have a Material
          Adverse Effect. Parent shall have received a certificate dated as of the
          Closing
          Date signed on behalf of the Company by the chief executive officer and
          the
          chief financial officer of the Company to the effect set forth in this
          paragraph.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Performance of Obligations of the
          Company</u>. &#160;The Company shall have
          performed in all material respects all obligations required to be performed
          by
          it under this Agreement at or prior to the Closing Date. Parent shall have
          received a certificate signed on behalf of the Company by the chief executive
          officer and the chief financial officer of the Company to the effect set
          forth
          in this paragraph.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Consents, Etc</u>. &#160;Parent and Merger Sub shall have
          received evidence,
          in form and substance reasonably satisfactory to Parent, that such licenses,
          permits, consents, approvals, authorizations, qualifications, and orders
          of
          governmental authorities and other third parties as are necessary (in Parent's
          sole discretion) in connection with the transactions contemplated hereby
          have
          been obtained, except where the failure to obtain such licenses, permits,
          consents, approvals, authorizations, qualifications, and orders would not,
          individually or in the aggregate with all other failures, have a Material
          Adverse Effect with respect to the Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>No Litigation</u>. &#160;There shall not be pending by
          any Governmental
          Entity or any other Person or solely with respect to any Governmental Entity,
          threatened by any suit, action, or proceeding, (i) challenging or seeking
          to
          restrain or prohibit the consummation of the Merger or any of the other
          transactions contemplated by this Agreement or seeking to obtain from any
          party
          hereto or any of their affiliates any damages that are material in relation
          to
          the Company and its Subsidiaries taken as a whole; (ii) seeking to prohibit
          or
          limit the ownership or operation by the Company or any of its Subsidiaries
          of
          any material portion of the business or assets of the Company and its
          Subsidiaries taken as a whole or to dispose of or hold separate any material
          portion of the business or assets of the Company and its Subsidiaries taken
          as a
          whole, as a result of the Merger or any of the other transactions contemplated
          by this Agreement; (iii) seeking to impose limitations on the ability of
          Parent
          to acquire or hold, or exercise full rights of ownership of, any shares
          of the
          common stock of the Surviving Corporation, including, without limitation,
          the
          right to vote such common stock on all matters properly presented to the
          stockholders of the Surviving Corporation; or seeking to prohibit Parent
          or any
          of its Subsidiaries from effectively controlling in any material respect
          the
          business or operations of the Company and its Subsidiaries taken as a
          whole.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Termination of Company Options</u>.&#160; The Company shall have (i) entered
          into a termination agreement with each holder of a Company Option pursuant
          to
          which all outstanding Company Options held by each such holder shall be
          terminated and each such holder shall no rights thereunder to purchase
          shares of
          Company Common Stock or (ii) in accordance with Section 11.3(d) of the
          Company
          Stock Plan, accelerate the expiration date of all such Company Options
          to a date
          no later than April 30, 2007 and required each such holder to exercise
          all such
          Company Options held by such holder (including, if the Company so elects
          in
          accordance thereunder, to accelerate the vesting of such Company Options)
          by
          such date.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Opinion of Counsel</u>.&#160; Foley &amp; Lardner LLP, counsel to the
          Company, shall have delivered to Parent a written legal opinion addressed
          to
          Parent, dated on and as of the Closing Date, and in form reasonably satisfactory
          to Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        <div style="MARGIN: 0in 0in 12pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Resignation of Directors and Officers</u>.&#160; The directors and officers
          of the Company, in office immediately prior to the Effective Time of the
          Merger
          shall have resigned as directors and officers of the Surviving Corporation
          effective as of the Effective Time of the Merger.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Termination of Agreements; SCO Waiver;
          Other Waivers</u>.&#160; The Company
          and each other party thereto shall have terminated each agreement set forth
          on
          Schedule&#160;6.02(h) attached hereto.&#160; SCO Partners LLC and its affiliates
          shall have executed and delivered to the Company a waiver, in form satisfactory
          to Parent, of any rights to (i) liquidated or other damages in respect
          of any
          failure by the Company to timely satisfy any such obligation or (ii) any
          fees
          resulting from the Merger or any financing, under any agreement with Parent
          or
          the Company.&#160; Each holder of a Company Warrant to be assumed by Parent
          pursuant to Section 2.03 shall have executed and delivered to Parent a
          waiver,
          in form satisfactory to Parent, of any rights to require Parent to register
          for
          resale under the Securities Act any such Company Warrants held by such
          Person or
          Parent Common Stock issuable upon exercise of such Company Warrants.&#160; The
          employment agreement between the Company and Agamemnon A. Epenetos, dated
          January 31, 2006 shall have been amended and restated to be in the form
          of the
          standard Parent executive employment agreement and acceptable to Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Dissenters' Rights</u>.&#160; Any applicable period during which
          stockholders
          of the Company have the right to exercise appraisal, dissenters' or other
          similar rights under Section 262 of Delaware Law or other applicable law
          shall
          have expired and stockholders of the Company holding in the aggregate more
          than
          five percent (5%) of the outstanding shares of Company Common Stock or
          Company
          Preferred Stock shall not have exercised appraisal, dissenters' or similar
          rights under Section 262 of Delaware Law or other applicable law with respect
          to
          such shares by virtue of the Merger.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>No Material Adverse Effect</u>.&#160; Since the date of this Agreement,
          there
          shall not have occurred any Material Adverse Effect with respect to the
          Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>FIRPTA Certificate</u>.&#160; The Company shall have delivered
          a properly
          executed statement, dated as of the Closing Date, in a form reasonably
          acceptable to Parent, conforming to the requirements of Treasury Regulations
          Section 1.1445-2(c)(3).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Outstanding Liabilities of the Company</u>.&#160; Parent shall have received
          evidence, satisfactory to it, that as of the Closing Date the amount of
          the
          Company's then outstanding accounts payable and other liabilities (including,
          without limitation, all amounts owed (i) to employees, officers and consultants
          of the Company (and its Subsidiaries) and (ii) to any Person in respect
          of any
          failure by the Company to timely satisfy any obligation to register for
          resale
          under the Securities Act any securities of the Company held by such Person)
          does
          not exceed $1,000,000 in the aggregate.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Exercise or Termination of Company
          Warrants</u>.&#160; The Company shall have
          required each holder of the Company Warrants listed in Section 6.02(m)
          of the
          Company Disclosure Schedule to exercise each such Company Warrant held
          by such
          holder prior to the Closing Date, or such holder and the Company shall
          have
          executed and delivered a termination agreement terminating each such Company
          Warrant and all of such holder's rights thereunder, including any right
          to
          purchase shares of Company Common Stock.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Opinion of Financial Advisor</u>.&#160; Parent shall have received the
          opinion of TSG Partners to the effect that the payment by it of the Merger
          Consideration is fair to Parent's stockholders from a financial point of
          view.&#160; </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>License Agreements</u>.&#160; The Company shall have obtained
          letter
          certifications from each licensor of the Company or any of its Subsidiaries
          (including, without limitation, Virium Pharmaceuticals, Inc. and Immunodex,
          Inc.), in form satisfactory to Parent, that any agreement between such
          Person
          and the Company (or the Company's Subsidiary, if applicable) is in full
          force
          and effect, that such agreement constitutes a legal, valid and binding
          obligation of, and is legally enforceable against, it and the Company (or
          the
          Company's Subsidiary, if applicable), that there exists no uncured breach
          or
          default by either it or the Company (or the Company's Subsidiary, if applicable)
          under any such agreement and that any consents required under such agreement
          have been obtained, are valid and are currently in effect.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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          </div>
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            </div>
          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt">(p)&#160;&#160;&#160;&#160;&#160;&#160;
<u>Virium Pharmaceuticals, Inc.</u>&#160; All conditions to the approval
          by NIH
          of the Phenylbutyrate Co-development and Sublicense Agreement between the
          Company and Virium Pharmaceuticals, Inc. (&#8220;<u>Virium</u>&#8221;) shall have been
          met.&#160; Virium shall have executed and delivered to the Company each of the
          two amendments previously negotiated and executed by the Company, copies
          of
          which have been provided to Parent.&#160; The Company and Virium shall have
          negotiated, and each shall have executed and delivered to the other party,
          the
          letter of intent previously executed by the Company in the form previously
          provided to Parent with such changes as may be approved by Parent in its
          sole
          discretion.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153651">6.03.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Conditions
          to
          Obligations of the Company</u>. &#160;The obligation of the Company to effect
          the Merger is further subject to the following conditions:</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Representations and Warranties</u>. &#160;The representations and warranties
          of Parent and Merger Sub set forth in this Agreement shall be true and
          correct,
          in each case as of the date of this Agreement and (except to the extent
          such
          representations and warranties speak as of an earlier date) as of the Closing
          Date as though made on and as of the Closing Date, except where the failure
          of
          such representations and warranties to be so true and correct (without
          giving
          effect to any limitation as to "materiality" or "material adverse effect"
          set
          forth therein) would not individually or in the aggregate have a Material
          Adverse Effect with respect to Parent. &#160;The Company shall have received a
          certificate signed on behalf of Parent and Merger Sub by an authorized
          officer
          of Parent and Merger Sub to the effect set forth in this paragraph.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Performance of Obligations of Parent
          and Merger Sub</u>. &#160;Parent and
          Merger Sub shall have performed in all material respects all obligations
          required to be performed by each of them under this Agreement at or prior
          to the
          Closing Date. &#160;The Company shall have received a certificate signed on
          behalf of Parent and Merger Sub by an authorized officer of Parent and
          Merger
          Sub to the effect set forth in this paragraph.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Opinion of Counsel</u>.&#160; Bingham McCutchen LLP, counsel
          to Parent and
          Merger Sub, shall have delivered to the Company a written legal opinion
          addressed to the Company, dated on and as of the Closing Date, and in form
          reasonably satisfactory to the Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>No Litigation</u>.&#160; There shall not be pending by
          any Governmental
          Entity or any other Person or solely with respect to any Governmental Entity,
          threatened by any suit, action, or proceeding, (i) challenging or seeking
          to
          restrain or prohibit the consummation of the Merger or any of the other
          transactions contemplated by this Agreement or seeking to obtain from any
          party
          hereto or any of their affiliates any damages that are material in relation
          to
          Parent and its Subsidiaries taken as a whole; (ii) seeking to prohibit
          or limit
          the ownership or operation by Parent or any of its Subsidiaries of any
          material
          portion of the business or assets of Parent and its Subsidiaries taken
          as a
          whole or to dispose of or hold separate any material portion of the business
          or
          assets of Parent and its Subsidiaries taken as a whole, as a result of
          the
          Merger or any of the other transactions contemplated by this Agreement;
          (iii)
          seeking to impose limitations on the ability of Parent to acquire or hold,
          or
          exercise full rights of ownership of, any shares of the common stock of
          the
          Surviving Corporation, including, without limitation, the right to vote
          such
          common stock on all matters properly presented to the stockholders of the
          Surviving Corporation; or seeking to prohibit Parent or any of its Subsidiaries
          from effectively controlling in any material respect the business or operations
          of the Company and its Subsidiaries taken as a whole.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<u>Outstanding SCO and Oracle Debt</u>.&#160; The applicable maturity date of
          all of Parent's outstanding debt (whether principal or interest) owed to
          each of
          SCO Partners LLC (and its affiliates) and Oracle Partners LP (and its
          affiliates) shall have been extended to a date on or after April 27, 2008,
          or
          such debt shall have been converted into Parent Common Stock.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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          </div>
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            </div>
          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align="center"><a name="_Toc164153652">ARTICLE
          VII.<br><br>TERMINATION, AMENDMENT, AND WAIVER
</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153653">7.01.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Termination</u>.
          &#160;This Agreement may be terminated and abandoned at any time prior to the
          Effective Time of the Merger, whether before or after the Company Stockholder
          Approval:</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by mutual written consent of Parent and
          the Company;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by either Parent or the Company if any
          Governmental Entity shall have issued an
          order, decree, or ruling or taken any other action permanently enjoining,
          restraining, or otherwise prohibiting the Merger and such order, decree,
          ruling,
          or other action shall have become final and nonappealable;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by either Parent or the Company if the
          Merger shall not have been consummated on
          or before August 31, 2007 (other than due to the failure of the party seeking
          to
          terminate this Agreement to perform in any material respect its obligations
          under this Agreement required to be performed at or prior to the Effective
          Time
          of the Merger);</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by either Parent or the Company if at
          the Stockholder Meeting (including any
          adjournment thereof) the Company Stockholder Approval shall not have been
          obtained;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by Parent, if the Company or its Board
          of Directors shall have (1) withdrawn,
          modified, or amended in any respect adverse to Parent its approval or
          recommendation of this Agreement or any of the transactions contemplated
          herein;
          (2) failed as promptly as reasonably practicable after the Form S-4 is
          declared
          effective to mail the Stockholder Statement to its stockholders or failed
          to
          include in such statement such recommendation; (3) recommended any Transaction
          Proposal from a Person other than Parent or any of its affiliates; (4)
          resolved
          to do any of the foregoing; or (5) in response to the commencement of any
          tender
          offer or exchange offer for more than 10% of the outstanding shares of
          Company
          Common Stock or Company Preferred Stock, not recommended rejection of such
          tender offer or exchange offer at the time of filing of the requisite Schedule
          14d-9 with the SEC;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by the Company, if, pursuant to and in
          compliance with Section 5.06 hereof, the
          Board of Directors of the Company concludes in good faith, based on advice
          from
          outside counsel, that in order to satisfy its fiduciary duties to the
          stockholders of the Company under the Delaware Law, such Board of Directors
          must
          not make or must withdraw or modify its recommendation referred to in Section
          3.01(p), and the Board of Directors does not make or withdraws or modifies
          such
          recommendation;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by Parent, upon a breach of any representation,
          warranty, covenant or agreement
          on the part of the Company set forth in this Agreement, or if any representation
          or warranty of the Company shall have become untrue, in either case such
          that
          the conditions set forth in Section 6.02(a) or Section 6.02(b) (other than
          with
          respect to the delivery of the officers' certificates required thereunder)
          would
          not be satisfied at the time of such breach or as of the time such
          representation or warranty shall have become untrue; provided that if such
          inaccuracy in the Company's representations and warranties or breach by
          the
          Company is curable by the Company through the exercise of its commercially
          reasonable efforts within ten (10) business days of the time such representation
          or warranty shall have become untrue or such breach, Parent may not terminate
          this Agreement under this Section 7.01(g) during such ten-day period, provided
          Company continues to exercise such commercially reasonable efforts; or</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by the Company, upon a breach of any representation,
          warranty, covenant or
          agreement on the part of Parent or Merger Sub set forth in this Agreement,
          or if
          any representation or warranty of Parent shall have become untrue, in either
          case such that the conditions set forth in Section 6.03(a) or Section 6.03(b)
          (other than with respect to the delivery of the officers' certificates
          required
          thereunder) would not be satisfied at the time of such breach or as of
          the time
          such representation or warranty shall have become untrue; provided that
          if such
          inaccuracy in Parent's representations and warranties or breach by Parent
          is
          curable by Parent through the exercise of its commercially reasonable efforts
          within ten (10) business days of the time such representation or warranty
          shall
          have become untrue or such breach, the Company may not terminate this Agreement
          under this Section 7.01(h) during such ten-day period provided Parent continues
          to exercise such commercially reasonable effort.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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          </div>
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        </div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153654">7.02.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Effect
          of
          Termination</u>. &#160;In the event of termination of this Agreement by either
          the Company or Parent as provided in Section 7.01, this Agreement shall
          forthwith become void and have no effect, without any liability or obligation
          on
          the part of Parent, Merger Sub, or the Company, provided that (a) any such
          termination shall not relieve a party from liability for any willful breach
          of
          this Agreement and (b) the last sentence of Section 5.02(a), this Section
          7.02,
          Section 8.02, Section 8.07 and the </a>Confidentiality Agreement shall remain in
          full force and effect and survive any such termination. Nothing contained
          in
          this paragraph shall relieve any party for any breach of the covenants
          or
          agreements set forth in this Agreement or the Confidentiality Agreement.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153655">7.03.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Amendment</u>.
          &#160;This Agreement may be amended by the parties at any time before or after
          any required approval of matters presented in connection with the Merger
          by the
          stockholders of the Company; provided, however, that after any such approval,
          there shall be made no amendment that by law requires further approval
          by such
          stockholders without the further approval of such stockholders. This Agreement
          may not be amended except by an instrument in writing signed on behalf
          of each
          of the parties.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153656">7.04.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Extension;
          Waiver</u>. &#160;At any time prior to the Effective Time of the Merger, the
          parties may (a) extend the time for the performance of any of the obligations
          or
          other acts of the other parties; (b) waive any inaccuracies in the
          representations and warranties contained in this Agreement or in any document
          delivered pursuant to this Agreement; or (c) subject to the provisions
          of
          Section 7.03, waive compliance with any of the agreements or conditions
          contained in this Agreement. Any agreement on the part of a party to any
          such
          extension or waiver shall be valid only if set forth in an instrument in
          writing
          signed on behalf of such party. The failure of any party to this Agreement
          to
          assert any of its rights under this Agreement or otherwise shall not constitute
          a waiver of such rights.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153657">7.05.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Procedure
          for
          Termination, Amendment, Extension or Waiver</u>. &#160;A termination of this
          Agreement pursuant to Section 7.01, an amendment of this Agreement pursuant
          to
          Section 7.03 or an extension or waiver pursuant to Section 7.04 shall,
          in order
          to be effective, require in the case of any party hereto an action by its
          Board
          of Directors or a duly-authorized designee of its Board of Directors.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in" align="center"><a name="_Toc164153658">ARTICLE
          VIII.<br><br>GENERAL PROVISIONS</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153659">8.01.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Nonsurvival
          of
          Representations and Warranties</u>. &#160;None of the representations and
          warranties in this Agreement or in any instrument delivered pursuant to
          this
          Agreement shall survive the Effective Time of the Merger and all such
          representations and warranties shall be extinguished on consummation of
          the
          Merger and no party hereto nor any officer, director or employee or stockholder
          of any of them shall be under any liability whatsoever with respect to
          any such
          representation or warranty after such time. &#160;This Section 8.01 shall not
          limit any covenant or agreement of the parties which by its terms contemplates
          performance after Effective Time of the Merger.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153660">8.02.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Fees
          and
          Expenses</u>. &#160;</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Except as set forth in this Section&#160;8.02, all fees and expenses incurred in
          connection with this Agreement and the transactions contemplated hereby
          shall be
          paid by the party incurring such fees and expenses, whether or not the
          Merger is
          consummated; provided however, that the Company and Parent shall share
          equally
          all fees and expenses, other than accountants' and attorneys' fees, incurred
          with respect to the printing, filing and mailing of the S-4 and the Stockholder
          Statement (including any related preliminary materials) and any amendments
          or
          supplements thereto.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The Company shall pay Parent up to $750,000
          as reimbursement for expenses of
          Parent actually incurred relating to the transactions contemplated by this
          Agreement prior to termination (including, but not limited to, reasonable
          fees
          and expenses of Parent's counsel, accountants and financial advisors, but
          excluding any discretionary fees paid to such financial advisors), in the
          event
          of the termination of this Agreement:</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
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        </div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by Parent or the Company pursuant to Section&#160;7.01(c) if the failure to
          satisfy any of the conditions set forth in Sections&#160;6.02(a)-(c), (e)-(j),
          (o) and (p) by August&#160;31, 2007 shall have resulted in the Closing not
          occurring; or</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by Parent pursuant to Section&#160;7.01(g).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">The expenses payable pursuant to this
          Section&#160;8.02(b) shall be paid by wire transfer of same-day funds within
          five (5) business days after demand therefor following the occurrence of
          the
          termination event giving rise to the payment obligation described in this
          Section&#160;8.02(b).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The Company shall pay Parent a termination
          fee of $750,000 in the event of the
          termination of this Agreement (i) by Parent pursuant to Section 7.01(d)
          or (ii)
          by Parent or the Company pursuant to Sections&#160;7.01(e)-(g) (except in the
          case of a termination by Parent due to the failure of the Company to satisfy
          the
          condition set forth in Section 6.02(l)).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">Any fee due under this Section&#160;8.02(c)
          shall be paid to Parent by wire transfer of same-day funds within two (2)
          business days after the date of termination of this Agreement.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Parent shall pay the Company up to $100,000
          as reimbursement for expenses of the
          Company actually incurred relating to the transactions contemplated by
          this
          Agreement prior to termination (including, but not limited to, reasonable
          fees
          and expenses of the Company's counsel, accountants and financial advisors,
          but
          excluding any discretionary fees paid to such financial advisors), in the
          event
          of the termination of this Agreement:</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by the Company or Parent pursuant to Section&#160;7.01(c) as a result of the
          failure to satisfy the conditions set forth in Section&#160;6.03(a) or (b);
          or</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
by the Company pursuant to Section&#160;7.01(h).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">The expenses payable pursuant to this
          Section&#160;8.02(d) shall be paid by wire transfer of same-day funds within
          five (5) business days after demand therefor following the occurrence of
          the
          termination event giving rise to the payment obligation described in this
          Section&#160;8.02(d).</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The parties acknowledge that the agreements
          contained in this Section&#160;8.02
          are an integral part of the transactions contemplated by this Agreement,
          and
          that, without these agreements, the parties would not enter into this
          Agreement.&#160; Payment of the fees and expenses described in this
          Section&#160;8.3 shall not be in lieu of damages incurred in the event of a
          breach of this Agreement described in clause (a) of Section&#160;7.02 but is
          otherwise the sole and exclusive remedy of the parties in connection with
          any
          termination of this Agreement.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153661">8.03.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Notices</u>.
          &#160;All notices, requests, claims, demands and other communications under this
          Agreement shall be in writing and shall be deemed given if delivered personally
          or sent by overnight courier (providing proof of delivery) to the parties
          at the
          following addresses (or at such other address for a party as shall be specified
          by like notice):</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in">(a)&#160;&#160;&#160;&#160;&#160;&#160;
if to Parent or
          Merger Sub, to</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in">&#160;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Access Pharmaceuticals, Inc.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">2600 Stemmons Freeway, Suite 176</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Dallas, Texas75207</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Attention:&#160; Stephen Seiler </div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Telecopier No.:&#160; (214) 905-5101</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">&#160;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">&#160;</div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">A-31</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt 0.5in; mso-pagination: lines-together">with
          a
          copy to:</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in; mso-pagination: lines-together">Bingham
          McCutchen LLP</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in; mso-pagination: lines-together">150
          Federal
          Street</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Boston, MA&#160; 02110</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Attention:&#160; John J. Concannon III,
          Esq.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Telecopier No.:&#160; (617) 951-8736</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">&#160;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt 0.5in">(b)&#160;&#160;&#160;&#160;&#160;&#160;
if to the Company or its Subsidiaries,
          to</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Somanta Pharmaceuticals, Inc.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">19200 Von Karman Avenue, Suite 400</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Irvine, CA92612</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Attention:&#160; Terrance Bruggeman</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Telecopier No.:&#160; (949) 706-3698</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">&#160;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt 0.5in; mso-pagination: lines-together">with
          a
          copy to:</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Foley &amp; Lardner LLP</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">402 W. Broadway, Suite 2100</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">San Diego, CA 92101</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 0pt 1in">Attention:&#160; Adam Lenain, Esq.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt 1in">Telecopier No.:&#160; (619) 234-3510</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; mso-pagination: widow-orphan lines-together"><a name="_Toc164153662">8.04.&#160;&#160;&#160;&#160;&#160;&#160;
          <u>Definitions</u>.&#160; For purposes of this Agreement:</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Affiliate</u>" of any Person means another
          Person that directly or
          indirectly, through one or more intermediaries, controls, is controlled
          by, or
          is under common control with, such first Person;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Company Common Stock</u>" means the common stock, par
          value $0.001 per
          share, of the Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Company Preferred Stock</u>" means the Series A Convertible
          Preferred Stock,
          par value $0.001 per share, of the Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Company Stock Option Plan</u>" means the Company's 2005 Equity
          Incentive
          Plan.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Company Warrants</u>" means warrants to purchase shares
          of Company Common
          Stock as listed in Section 3.01(c) of the Company Disclosure Schedule.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Environmental Claim</u>" means any written or oral notice,
          claims, demand,
          action, suit, complaint, proceeding or other communication by any Person
          alleging liability or potential liability (including without limitation
          liability or potential liability for investigatory costs, cleanup costs,
          governmental response costs, natural resource damages, property damage,
          personal
          injury, fines or penalties) arising out of, relating to, based on or resulting
          from (A) the presence, discharge, emission, release or threatened release
          of any
          Hazardous Materials at any location, whether or not owned, leased or operated
          by
          the Company or any of its Subsidiaries or (B) circumstances forming the
          basis of
          any violation or alleged violation of any Environmental Law or Environmental
          Permit or (C) otherwise relating to obligations or liabilities under any
          Environmental Laws;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">A-32</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Environmental Permits</u>" means all permits, licenses,
          registrations and
          other governmental authorizations required under Environmental Laws for
          the
          Company and its Subsidiaries to conduct their operations and businesses
          on the
          date hereof and consistent with past practices;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Environmental Laws</u>" means all applicable federal,
          state and local
          statutes, rules, regulations, ordinances, orders, decrees and common law
          relating in any manner to contamination, pollution or protection of the
          environment, including, without limitation, the Comprehensive Environmental
          Response, Compensation and Liability Act, the Solid Waste Disposal Act,
          the
          Clean Air Act, the Clean Water Act, the Toxic Substances Control Act, the
          Occupational Safety and Health Act, the Emergency Planning and
          Community-Right-to-Know Act, the Safe Drinking Water Act, all as amended,
          and
          similar state laws;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Hazardous Materials</u>" means all hazardous or toxic
          substances, wastes,
          materials or chemicals, petroleum (including crude oil or any fraction
          thereof)
          and petroleum products, friable asbestos and asbestos-containing materials,
          pollutants, contaminants and all other materials, and substances regulated
          pursuant to, or that could reasonably be expected to provide the basis
          of
          liability under, any Environmental Law;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Indebtedness</u>" means, with respect to any Person,
          without duplication,
          (A) all obligations of such Person for borrowed money, (B) all obligations
          of
          such Person evidenced by bonds, debentures, notes or similar instruments,
          (C)
          all obligations of such Person under conditional sale or other title retention
          agreements relating to property purchased by such Person, (D) all obligations
          of
          such Person issued or assumed as the deferred purchase price of property
          or
          services (excluding obligations of such Person to creditors for raw materials,
          inventory, services and supplies incurred in the ordinary course of such
          Person's business), (E) all capitalized lease obligations of such Person,
          (F)
          all obligations of others secured by any Lien on property or assets owned
          or
          acquired by such Person, whether or not the obligations secured thereby
          have
          been assumed, (G) all obligations of such Person under interest rate or
          currency
          hedging transactions (valued at the termination value thereof), (H) all
          letters
          of credit issued for the account of such Person and (I) all guarantees
          and
          arrangements having the economic effect of a guarantee of such Person of
          any
          Indebtedness of any other Person;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Intellectual Property</u>" means all rights, privileges
          and priorities
          provided under federal, state, foreign and multinational law relating to
          intellectual property, including, without limitation, all (i)(a) inventions,
          discoveries, processes, formulae, designs, methods, techniques, procedures,
          concepts, developments, technology, new and useful improvements thereof
          and
          know-how relating thereto, whether or not patented or eligible for patent
          protection; (b) copyrights and copyrightable works, including computer
          applications, programs, software, databases and related items (except for
          off-the-shelf commercial software); (c) trademarks, service marks, trade
          names,
          brand names, corporate names, logos and trade dress, the goodwill of any
          business symbolized thereby, and all common-law rights relating thereto;
          and (d)
          trade secrets and other confidential information; and (ii) all registrations,
          applications, recordings, and licenses or other similar agreements related
          to
          the foregoing;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>knowledge of the Company</u>" means the actual knowledge of
          any officer of
          the Company or any Subsidiary of the Company.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Material Adverse Change</u>" or "<u>Material Adverse Effect</u>" means, when
          used in connection with the Company or Parent, any change, effect, event
          or
          occurrence that either individually or in the aggregate with all other
          such
          changes, effects, events and occurrences is materially adverse to the business,
          properties, financial condition or results of operations of the Company
          or
          Parent, as the case may be, and its Subsidiaries taken as a whole, provided
          that
          (i) with respect to Section 3.01(g)(i) and (ii) hereof, shall exclude any
          material adverse change in the Company's results of operations for any
          fiscal
          period prior to the Closing Date that is directly attributable to a disruption
          in the conduct of the Company's business arising from the transactions
          contemplated by this Agreement or the public announcement thereof and (ii)
          with
          respect to Section 3.02(f)(i) and (ii) hereof, shall exclude any material
          adverse change in Parent's results of operations for any fiscal period
          prior to
          the Closing Date that is directly attributable to a disruption in the conduct
          of
          Parent's business arising from the transactions contemplated by this Agreement
          or the public announcement thereof; and provided, further, that Material
          Adverse
          Effect and Material Adverse Change shall not be deemed to include the impact
          of
          (a) any change in laws and regulations or interpretations thereof by courts
          or
          governmental authorities generally applicable to the Company and Parent,
          (b) any
          change in generally accepted accounting principles as applied in the United
          States or regulatory accounting principles generally applicable to the
          Company
          and Parent, (c) any change arising or resulting from general industry,
          economic
          or capital market conditions or conditions in markets relevant to the Company
          or
          Parent, as applicable, that affects Parent or the Company, as applicable
          (or the
          markets in which Parent or the Company, as applicable, compete) in a manner
          not
          disproportionate to the manner in which such conditions affect comparable
          companies in the industries or markets in which Company or Parent, as
          applicable, compete, (d) any act or omission of the Company (or any of
          its
          Subsidiaries) taken with the prior written consent of Parent or (e) the
          expenses
          reasonably incurred by the Company in entering into this Agreement and
          consummating the transactions contemplated by this Agreement and the expenses
          associated with the termination of any Company Plan as and to the extent
          contemplated herein.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">A-33</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Parent Common Stock</u>" means the common stock, par
          value $0.01 per share,
          of Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Parent Preferred Stock</u>" means the preferred stock, par
          value $0.01 per
          share, of Parent.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Permitted Lien</u>" means statutory Liens securing
          payments not yet due and
          such Liens as do not materially affect the use of the properties or assets
          subject thereto or affected thereby or otherwise materially impair business
          operations at such properties.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Person</u>" means an individual, corporation,
          partnership, joint venture,
          association, trust, unincorporated organization or other entity;</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(r)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>SEC</u>" means the United States Securities
          and Exchange Commission.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(s)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Subsidiary</u>" of any Person means another
          Person, an amount of the voting
          securities, other voting ownership or voting partnership interests of which
          is
          sufficient to elect at least a majority of its Board of Directors or other
          governing body (or, if there are no such voting interests, 50% or more
          of the
          equity interests of which) is owned directly or indirectly by such first
          Person.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(t)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Tax</u>" or "<u>Taxes</u>" (and with correlative
          meaning, "<u>Taxable</u>"
          and "<u>Taxing</u>") means any United States federal, state or local, or
          non-United States, income, gross receipts, franchise, estimated, alternative
          minimum, add-on minimum, sales, use, transfer, registration, value added,
          excise, natural resources, severance, stamp, withholding, occupation, premium,
          windfall profit, environmental, customs, duties, real property, personal
          property, capital stock, net worth, intangibles, social security, unemployment,
          disability, payroll, license, employee or other Tax or similar levy, of
          any kind
          whatsoever, including any interest, penalties or additions to Tax in respect
          of
          the foregoing.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">(u)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
"<u>Tax Return</u>" means any return, declaration,
          report, claim for refund,
          information return or other document (including any related or supporting
          estimates, elections, schedules, statements or information) filed or required
          to
          be filed in connection with the determination, assessment or collection
          of any
          Tax or the administration of any laws, regulations or administrative
          requirements relating to any Tax.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153663">8.05.&#160;&#160;&#160;&#160;&#160;&#160;
          <u>Interpretation</u>. &#160;When reference is made in this Agreement to an
          Article&#160;or a Section, such reference shall be to an Article&#160;or
          Section&#160;of this Agreement, unless otherwise indicated.&#160; The table of
          contents, table of defined terms and headings contained in this Agreement
          are
          for convenience of reference only and shall not affect in any way the meaning
          or
          interpretation of this Agreement.&#160; The language used in this Agreement
          shall be deemed to be the language chosen by the parties hereto to express
          their
          mutual intent, and no rule of strict construction shall be applied against
          any
          party.&#160; Whenever the context may require, any pronouns used in this
          Agreement shall include the corresponding masculine, feminine or neuter
          forms,
          and the singular form of nouns and pronouns shall include the plural, and
          vice
          versa.&#160; Any reference to any federal, state, local or foreign statute or
          law shall be deemed also to refer to all rules and regulations promulgated
          thereunder, unless the context requires otherwise.&#160; Whenever the words
          "include," "includes" or "including" are used in this Agreement, they shall
          be
          deemed to be followed by the words "without limitation."&#160; No summary of
          this Agreement prepared by any party shall affect the meaning or interpretation
          of this Agreement.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153664">8.06.&#160;&#160;&#160;&#160;&#160;&#160;
          <u>Counterparts</u>. &#160;This Agreement may be executed in one or more
          counterparts, all of which shall be considered one and the same agreement
          and
          shall become effective when one or more counterparts have been signed by
          each of
          the parties and delivered to the other parties. &#160;The delivery of a
          signature page of this Agreement by one party to the other via facsimile
          transmission shall constitute the execution and delivery of this Agreement
          by
          the transmitting party.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153665">8.07.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Entire
          Agreement; No Third-Party Beneficiaries</u>. &#160;This Agreement (including the
          Schedules and Exhibits attached hereto) and the other agreements and instruments
          referred to herein constitute the entire agreement, and supersede all prior
          agreements and understandings, both written and oral, among the parties
          with
          respect to the subject matter of this Agreement. &#160;This Agreement, other
          than Section 5.04 (with respect to which the Indemnified Parties shall
          be
          third-party beneficiaries), is not intended to confer upon any Person other
          than
          the parties any rights or remedies.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt">&#160;</div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">A-34</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153666">8.08.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Governing
          Law;
          Consent to Jurisdiction; Waiver of Jury Trial</u>. &#160;</a>This Agreement
          shall be governed by, and construed in accordance with, the laws of the
          STATE OF
          NEW YORK, regardless of the laws that might otherwise govern under applicable
          principles of conflicts of laws.&#160; Each of the parties to this Agreement
          (a)&#160;consents to submit itself to the personal jurisdiction of any state or
          federal court sitting in THE BOROUGH OF MANHATTAN in any action or proceeding
          arising out of or relating to this Agreement or any of the transactions
          contemplated by this Agreement, (b)&#160;agrees that all claims in respect of
          such action or proceeding may be heard and determined in any such court,
          (c)
          agrees that it shall not attempt to deny or defeat such personal jurisdiction
          by
          motion or other request for leave from any such court, and (d)&#160;agrees not
          to bring any action or proceeding arising out of or relating to this Agreement
          or any of the transaction contemplated by this Agreement in any other
          court.&#160; Each of the parties hereto waives any defense of inconvenient forum
          to the maintenance of any action or proceeding so brought and waives any
          bond,
          surety or other security that might be required of any other party with
          respect
          thereto.&#160; Any party hereto may make service on another party by sending or
          delivering a copy of the process to the party to be served at the address
          and in
          the manner provided for the giving of notices in Section&#160;8.03.&#160;
Nothing in this Section&#160;8.08, however, shall affect the right of any party
          to serve legal process in any other manner permitted by law.&#160; EACH party
          hereto HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION,
          PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE)
          ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
          HEREBY OR THE ACTIONS OF any party hereto IN THE NEGOTIATION, ADMINISTRATION,
          PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT.</div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153667">8.09.&#160;&#160;&#160;&#160;&#160;&#160;
<u>Assignment</u>.
          &#160;Neither this Agreement nor any of the rights, interests or obligations
          under this Agreement shall be assigned, in whole or in part, by operation
          of law
          or otherwise by any of the parties without the prior written consent of
          the
          other parties. &#160;Subject to the preceding sentence, this Agreement shall be
          binding upon, insure to the benefit of, and be enforceable by, the parties
          and
          their respective successors and assigns.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt"><a name="_Toc164153668">8.10.&#160;&#160;&#160;&#160;&#160;&#160;
          <u>Remedies</u>.&#160; Except as otherwise provided herein, any and all remedies
          herein expressly conferred upon a party shall be deemed cumulative with
          and not
          exclusive of any other remedy conferred hereby, or by law or equity upon
          such
          party, and the exercise by a party of any one remedy shall not preclude
          the
          exercise of any other remedy.&#160; The parties hereto agree that irreparable
          damage would occur in the event that any of the provisions of this Agreement
          were not performed in accordance with their specific terms or were otherwise
          breached.&#160; It is accordingly agreed that the parties hereto shall be
          entitled to an injunction or injunctions to prevent breaches of this Agreement
          and to enforce specifically the terms and provisions of this Agreement,
          this
          being in addition to any other remedy to which they are entitled at law
          or in
          equity.</a></div>
        <div>&#160;</div>
        <div style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align="center">[REMAINDER
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        <div>&#160;</div>
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      <div><br clear="all"></div>
      <div style="MARGIN: 0in 0in 12pt">IN WITNESS WHEREOF, the parties have caused
        this Agreement to be signed by their respective officers thereunto duly
        authorized, all as of the date first written above.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 12pt">ACCESS PHARMACEUTICALS, INC.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt">By:<u>&#160;&#160;/s/ Stephen R.
        Seiler&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</u></div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Name: &#160;Stephen
        R. Seiler</div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Title:
&#160;President and Chief
        Executive Officer</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt">Somanta acquisition corporation</div>
      <div>By:<u>&#160;&#160;/s/ Stephen R.
        Seiler&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</u></div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Name:&#160; Stephen
        R. Seiler</div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Title:&#160;
President and Chief
        Executive Officer</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 12pt">SOMANTA PHARMACEUTICALS, INC.</div>
      <div style="MARGIN: 0in 0in 12pt">By:<u>&#160;&#160;&#160;/s/ Terrance J.
        Bruggeman&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</u></div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Name:&#160; Terrance
        J. Bruggeman</div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Title:&#160;
Executive Chairman</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 12pt">SOMANTA INCORPORATED</div>
      <div>By:<u>&#160;&#160;&#160;/s/ Terrance J.
        Bruggeman&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</u></div>
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Terrance
        J.
        Bruggeman</div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Title:&#160;
Executive Chairman</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 12pt">Somanta Limited</div>
      <div>By:<u>&#160;&#160; /s/ Terrance&#160;J.
        Bruggeman&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</u></div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.25in"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;</font>Name:&#160;
Terrance
        J.
        Bruggeman</div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;Title:&#160;
Secretary</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt">&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt">&#160;&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt">&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt">&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><i>[Signature
        page to Merger Agreement]</i></div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
      <div>&#160;</div>
      <div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Annex
      B</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>CHAPTER
      1. DELAWARE GENERAL CORPORATION LAW</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Subchapter
      IX. Merger, Consolidation or Conversion</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>&#167;
      262. Appraisal rights. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(a)
      Any
      stockholder of a corporation of this State who holds shares of stock on the
      date
      of the making of a demand pursuant to subsection (d) of this section with
      respect to such shares, who continuously holds such shares through the effective
      date of the merger or consolidation, who has otherwise complied with subsection
      (d) of this section and who has neither voted in favor of the merger or
      consolidation nor consented thereto in writing pursuant to &#167; 228 of this title
      shall be entitled to an appraisal by the Court of Chancery of the fair value
      of
      the stockholder&#8217;s shares of stock under the circumstances described in
      subsections (b) and (c) of this section. As used in this section, the word
      &#8220;stockholder&#8221; means a holder of record of stock in a stock corporation and also
      a member of record of a nonstock corporation; the words &#8220;stock&#8221; and &#8220;share&#8221; mean
      and include what is ordinarily meant by those words and also membership or
      membership interest of a member of a nonstock corporation; and the words
&#8220;depository receipt&#8221; mean a receipt or other instrument issued by a depository
      representing an interest in one or more shares, or fractions thereof, solely
      of
      stock of a corporation, which stock is deposited with the depository.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(b)
      Appraisal rights shall be available for the shares of any class or series of
      stock of a constituent corporation in a merger or consolidation to be effected
      pursuant to &#167; 251 (other than a merger effected pursuant to &#167; 251(g) of this
      title), &#167; 252, &#167; 254, &#167; 257, &#167; 258, &#167; 263 or &#167; 264 of this title: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)
      Provided, however, that no appraisal rights under this section shall be
      available for the shares of any class or series of stock, which stock, or
      depository receipts in respect thereof, at the record date fixed to determine
      the stockholders entitled to receive notice of and to vote at the meeting of
      stockholders to act upon the agreement of merger or consolidation, were either
      (i) listed on a national securities exchange or designated as a national market
      system security on an interdealer quotation system by the National Association
      of Securities Dealers, Inc. or (ii) held of record by more than 2,000 holders;
      and further provided that no appraisal rights shall be available for any shares
      of stock of the constituent corporation surviving a merger if the merger did
      not
      require for its approval the vote of the stockholders of the surviving
      corporation as provided in subsection (f) of &#167; 251 of this title. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)
      Notwithstanding paragraph (1) of this subsection, appraisal rights under this
      section shall be available for the shares of any class or series of stock of
      a
      constituent corporation if the holders thereof are required by the terms of
      an
      agreement of merger or consolidation pursuant to &#167;&#167; 251, 252, 254, 257, 258, 263
      and 264 of this title to accept for such stock anything except: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">a.
      Shares
      of stock of the corporation surviving or resulting from such merger or
      consolidation, or depository receipts in respect thereof; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">b.
      Shares
      of stock of any other corporation, or depository receipts in respect thereof,
      which shares of stock (or depository receipts in respect thereof) or depository
      receipts at the effective date of the merger or consolidation will be either
      listed on a national securities exchange or designated as a national market
      system security on an interdealer quotation system by the National Association
      of Securities Dealers, Inc. or held of record by more than 2,000 holders;
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">c.
      Cash
      in lieu of fractional shares or fractional depository receipts described in
      the
      foregoing subparagraphs a. and b. of this paragraph; or </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">d.
      Any
      combination of the shares of stock, depository receipts and cash in lieu of
      fractional shares or fractional depository receipts described in the foregoing
      subparagraphs a., b. and c. of this paragraph. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3)
      In
      the event all of the stock of a subsidiary Delaware corporation party to a
      merger effected under &#167;&#160;253 of this title is not owned by the parent
      corporation immediately prior to the merger, appraisal rights shall be available
      for the shares of the subsidiary Delaware corporation. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(c)
      Any
      corporation may provide in its certificate of incorporation that appraisal
      rights under this section shall be available for the shares of any class or
      series of its stock as a result of an amendment to its certificate of
      incorporation, any merger or consolidation in which the corporation is a
      constituent corporation or the sale of all or substantially all of the assets
      of
      the corporation. If the certificate of incorporation contains such a provision,
      the procedures of this section, including those set forth in subsections (d)
      and
      (e) of this section, shall apply as nearly as is practicable. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">B-1</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(d)
      Appraisal rights shall be perfected as follows: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)
      If a
      proposed merger or consolidation for which appraisal rights are provided under
      this section is to be submitted for approval at a meeting of stockholders,
      the
      corporation, not less than 20 days prior to the meeting, shall notify each
      of
      its stockholders who was such on the record date for such meeting with respect
      to shares for which appraisal rights are available pursuant to subsection (b)
      or
      (c) hereof that appraisal rights are available for any or all of the shares
      of
      the constituent corporations, and shall include in such notice a copy of this
      section. Each stockholder electing to demand the appraisal of such stockholder&#8217;s
      shares shall deliver to the corporation, before the taking of the vote on the
      merger or consolidation, a written demand for appraisal of such stockholder&#8217;s
      shares. Such demand will be sufficient if it reasonably informs the corporation
      of the identity of the stockholder and that the stockholder intends thereby
      to
      demand the appraisal of such stockholder&#8217;s shares. A proxy or vote against the
      merger or consolidation shall not constitute such a demand. A stockholder
      electing to take such action must do so by a separate written demand as herein
      provided. Within 10 days after the effective date of such merger or
      consolidation, the surviving or resulting corporation shall notify each
      stockholder of each constituent corporation who has complied with this
      subsection and has not voted in favor of or consented to the merger or
      consolidation of the date that the merger or consolidation has become effective;
      or </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)
      If
      the merger or consolidation was approved pursuant to &#167; 228 or &#167; 253 of this
      title, then either a constituent corporation before the effective date of the
      merger or consolidation or the surviving or resulting corporation within 10
      days
      thereafter shall notify each of the holders of any class or series of stock
      of
      such constituent corporation who are entitled to appraisal rights of the
      approval of the merger or consolidation and that appraisal rights are available
      for any or all shares of such class or series of stock of such constituent
      corporation, and shall include in such notice a copy of this section. Such
      notice may, and, if given on or after the effective date of the merger or
      consolidation, shall, also notify such stockholders of the effective date of
      the
      merger or consolidation. Any stockholder entitled to appraisal rights may,
      within 20 days after the date of mailing of such notice, demand in writing
      from
      the surviving or resulting corporation the appraisal of such holder&#8217;s shares.
      Such demand will be sufficient if it reasonably informs the corporation of
      the
      identity of the stockholder and that the stockholder intends thereby to demand
      the appraisal of such holder&#8217;s shares. If such notice did not notify
      stockholders of the effective date of the merger or consolidation, either (i)
      each such constituent corporation shall send a second notice before the
      effective date of the merger or consolidation notifying each of the holders
      of
      any class or series of stock of such constituent corporation that are entitled
      to appraisal rights of the effective date of the merger or consolidation or
      (ii)
      the surviving or resulting corporation shall send such a second notice to all
      such holders on or within 10 days after such effective date; provided, however,
      that if such second notice is sent more than 20 days following the sending
      of
      the first notice, such second notice need only be sent to each stockholder
      who
      is entitled to appraisal rights and who has demanded appraisal of such holder&#8217;s
      shares in accordance with this subsection. An affidavit of the secretary or
      assistant secretary or of the transfer agent of the corporation that is required
      to give either notice that such notice has been given shall, in the absence
      of
      fraud, be prima facie evidence of the facts stated therein. For purposes of
      determining the stockholders entitled to receive either notice, each constituent
      corporation may fix, in advance, a record date that shall be not more than
      10
      days prior to the date the notice is given, provided, that if the notice is
      given on or after the effective date of the merger or consolidation, the record
      date shall be such effective date. If no record date is fixed and the notice
      is
      given prior to the effective date, the record date shall be the close of
      business on the day next preceding the day on which the notice is given.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(e)
      Within 120 days after the effective date of the merger or consolidation, the
      surviving or resulting corporation or any stockholder who has complied with
      subsections (a) and (d) hereof and who is otherwise entitled to appraisal
      rights, may file a petition in the Court of Chancery demanding a determination
      of the value of the stock of all such stockholders. Notwithstanding the
      foregoing, at any time within 60 days after the effective date of the merger
      or
      consolidation, any stockholder shall have the right to withdraw such
      stockholder&#8217;s demand for appraisal and to accept the terms offered upon
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">the
      merger or consolidation. Within 120 days after the effective date of the merger
      or consolidation, any stockholder who has complied with the requirements of
      subsections (a) and (d) hereof, upon written request, shall be entitled to
      receive from the corporation surviving the merger or resulting from the
      consolidation a statement setting forth the aggregate number of shares not
      voted
      in favor of the merger or consolidation and with respect to which demands for
      appraisal have been received and the aggregate number of holders of such shares.
      Such written statement shall be mailed to the stockholder within 10 days after
      such stockholder&#8217;s written request for such a statement is received by the
      surviving or resulting corporation or within 10 days after expiration of the
      period for delivery of demands for appraisal under subsection (d) hereof,
      whichever is later. </font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(f)
      Upon
      the filing of any such petition by a stockholder, service of a copy thereof
      shall be made upon the surviving or resulting corporation, which shall within
      20
      days after such service file in the office of the Register in Chancery in which
      the petition was filed a duly verified list containing the names and addresses
      of all stockholders who have demanded payment for their shares and with whom
      agreements as to the value of their shares have not been reached by the
      surviving or resulting corporation. If the petition shall be filed by the
      surviving or resulting corporation, the petition shall be accompanied by such
      a
      duly verified list. The Register in Chancery, if so ordered by the Court, shall
      give notice of the time and place fixed for the hearing of such petition by
      registered or certified mail to the surviving or resulting corporation and
      to
      the stockholders shown on the list at the addresses therein stated. Such notice
      shall also be given by 1 or more publications at least 1 week before the day
      of
      the hearing, in a newspaper of general circulation published in the City of
      Wilmington, Delaware or such publication as the Court deems advisable. The
      forms
      of the notices by mail and by publication shall be approved by the Court, and
      the costs thereof shall be borne by the surviving or resulting corporation.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(g)
      At
      the hearing on such petition, the Court shall determine the stockholders who
      have complied with this section and who have become entitled to appraisal
      rights. The Court may require the stockholders who have demanded an appraisal
      for their shares and who hold stock represented by certificates to submit their
      certificates of stock to the Register in Chancery for notation thereon of the
      pendency of the appraisal proceedings; and if any stockholder fails to comply
      with such direction, the Court may dismiss the proceedings as to such
      stockholder. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(h)
      After
      determining the stockholders entitled to an appraisal, the Court shall appraise
      the shares, determining their fair value exclusive of any element of value
      arising from the accomplishment or expectation of the merger or consolidation,
      together with a fair rate of interest, if any, to be paid upon the amount
      determined to be the fair value. In determining such fair value, the Court
      shall
      take into account all relevant factors. In determining the fair rate of
      interest, the Court may consider all relevant factors, including the rate of
      interest which the surviving or resulting corporation would have had to pay
      to
      borrow money during the pendency of the proceeding. Upon application by the
      surviving or resulting corporation or by any stockholder entitled to participate
      in the appraisal proceeding, the Court may, in its discretion, permit discovery
      or other pretrial proceedings and may proceed to trial upon the appraisal prior
      to the final determination of the stockholder entitled to an appraisal. Any
      stockholder whose name appears on the list filed by the surviving or resulting
      corporation pursuant to subsection (f) of this section and who has submitted
      such stockholder&#8217;s certificates of stock to the Register in Chancery, if such is
      required, may participate fully in all proceedings until it is finally
      determined that such stockholder is not entitled to appraisal rights under
      this
      section. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(i)
      The
      Court shall direct the payment of the fair value of the shares, together with
      interest, if any, by the surviving or resulting corporation to the stockholders
      entitled thereto. Interest may be simple or compound, as the Court may direct.
      Payment shall be so made to each such stockholder, in the case of holders of
      uncertificated stock forthwith, and the case of holders of shares represented
      by
      certificates upon the surrender to the corporation of the certificates
      representing such stock. The Court&#8217;s decree may be enforced as other decrees in
      the Court of Chancery may be enforced, whether such surviving or resulting
      corporation be a corporation of this State or of any state. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(j)
      The
      costs of the proceeding may be determined by the Court and taxed upon the
      parties as the Court deems equitable in the circumstances. Upon application
      of a
      stockholder, the Court may order all or a portion of the expenses incurred
      by
      any stockholder in connection with the appraisal proceeding, including, without
      limitation, reasonable attorney&#8217;s fees and the fees and expenses of experts, to
      be charged pro rata against the value of all the shares entitled to an
      appraisal. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(k)
      From
      and after the effective date of the merger or consolidation, no stockholder
      who
      has demanded appraisal rights as provided in subsection (d) of this section
      shall be entitled to vote such stock for any purpose or to receive payment
      of
      dividends or other distributions on the stock (except dividends or other
      distributions payable to stockholders of record at a date which is prior to
      the
      effective date of the merger or consolidation); provided, however, that if
      no
      petition for an appraisal shall be filed within the time provided in subsection
      (e) of this section, or if such stockholder shall deliver to the surviving
      or
      resulting corporation a written withdrawal of such stockholder&#8217;s demand for an
      appraisal and an acceptance of the merger or consolidation, either within 60
      days after the effective date of the merger or consolidation as provided in
      subsection (e) of this section or thereafter with the written approval of the
      corporation, then the right of such stockholder to an appraisal shall cease.
      Notwithstanding the foregoing, no appraisal proceeding in the Court of Chancery
      shall be dismissed as to any stockholder without the approval of the Court,
      and
      such approval may be conditioned upon such terms as the Court deems just.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(l)
      The
      shares of the surviving or resulting corporation to which the shares of such
      objecting stockholders would have been converted had they assented to the merger
      or consolidation shall have the status of authorized and unissued shares of
      the
      surviving or resulting corporation. (8 Del. C. 1953, &#167; 262; 56 Del. Laws, c. 50;
      56 Del. Laws, c. 186, &#167; 24; 57 Del. Laws, c. 148, &#167;&#167; 27-29; 59 Del. Laws, c.
      106, &#167; 12; 60 Del. Laws, c. 371, &#167;&#167; 3-12; 63 Del. Laws, c. 25, &#167; 14; 63 Del.
      Laws, c. 152, &#167;&#167; 1, 2; 64 Del. Laws, c. 112, &#167;&#167; 46-54; 66 Del. Laws, c. 136, &#167;&#167;
30-32; 66 Del. Laws, c. 352, &#167; 9; 67 Del. Laws, c. 376, &#167;&#167; 19, 20; 68 Del. Laws,
      c. 337, &#167;&#167; 3, 4; 69 Del. Laws, c. 61, &#167; 10; 69 Del. Laws, c. 262, &#167;&#167; 1-9; 70
      Del. Laws, c. 79, &#167; 16; 70 Del. Laws, c. 186, &#167; 1; 70 Del. Laws, c. 299, &#167;&#167; 2,
      3; 70 Del. Laws, c. 349, &#167; 22; 71 Del. Laws, c. 120, &#167; 15; 71 Del. Laws, c. 339,
&#167;&#167; 49-52; 73 Del. Laws, c. 82, &#167; 21.) </font></div>
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      </div>
      <div id="HDR" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">Annex
        C</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong>FORM
        OF VOTING AGREEMENT</strong></div>
      <div>&#160;</div>
      <div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Voting
          Agreement</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
          <font style="DISPLAY: inline; FONT-SIZE: 12pt;">Voting
          Agreement</font>&#160;(this "<u>Agreement</u>") is made and entered into as of
          April 18, 2007, by and among Access Pharmaceuticals, Inc., a Delaware
          corporation ("<u>Parent</u>"), Somanta Acquisition Corporation, a Delaware
          corporation and a wholly-owned subsidiary of Parent ("<u>Merger Sub</u>"), and
          the undersigned holders (the "<u>Holders</u>") of securities of Somanta
          Pharmaceuticals, Inc., a Delaware corporation (the
          "<u>Company</u>").</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Recitals</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each
          Holders owns beneficially and of record (i) shares of the Company's capital
          stock and/or (ii) stock options, convertible securities or warrants (whether
          or
          not vested) to acquire shares of the Company's capital stock, in each case
          in
          that number and class of shares of the Company's capital stock set forth
          on
<u>Schedule 1</u> attached hereto opposite the name of such Holder (such
          options, convertible securities, warrants and/or shares of the Company's
          capital
          stock, together with any other such options, convertible securities, warrants
          and/or shares of capital stock of the Company acquired by any Holder after
          the
          date hereof and during the term of this Agreement, including following
          the
          exercise of any such options, convertible securities and/or warrants, being
          referred to herein as such Holder's "<u>Subject Securities</u>").</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Upon
          the fulfillment of the terms and conditions of the Agreement and Plan of
          Merger
          by and among Parent, Merger Sub, the Company and the other parties named
          therein, dated as of the date hereof (as amended, restated or supplemented
          from
          time to time, the "<u>Merger Agreement</u>"), Merger Sub shall be merged (the
          "<u>Merger</u>") with and into the Company, with the Company continuing as the
          surviving corporation.&#160;&#160;Capitalized terms used but not defined herein
          are used as they are defined in the Merger Agreement.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each
          Holder believes that the terms of the Merger and the Merger Agreement are
          fair
          and that it is in such Holder's best interest as a holder of securities
          of the
          Company that the Merger be consummated.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Parent
          has advised the Company that Parent is not prepared to execute the Merger
          Agreement unless Parent believes that it is reasonably likely that the
          Merger
          will be consummated, and therefore Parent is requiring that certain holders
          of
          capital stock of the Company undertake in advance to vote their securities
          in
          favor of the Merger.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">E.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;For
          the above reasons, in order to induce Parent to enter into the Merger and
          in
          consideration of the execution of the Merger Agreement by Parent and to
          enhance
          the likelihood that the Merger will be consummated, each Holder, solely
          in such
          Holder's capacity as a holder of securities of the Company, agrees to vote
          such
          Holder's Subject Securities that are entitled to vote on the Merger (or
          execute
          and deliver a written consent) so as to facilitate consummation of the
          Merger.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 12pt;">Now,
          Therefore</font>, in consideration
          of the foregoing and the promises and the covenants and agreements set
          forth
          below, the receipt and adequacy of which are hereby acknowledged, the parties
          hereto hereby agree as follows:</font></div>
        <div>&#160;</div>
        <div>&#160;</div>
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            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">C-1</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
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          </div>
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        </div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Transfer
          of Shares</u>.&#160;&#160;During the term of this Agreement, each Holder shall
          not cause or permit any Transfer (as defined below) of any of such Holder's
          Subject Securities or enter into any agreement, option or arrangement with
          respect to a Transfer; <u>provided</u>, that nothing contained in this Agreement
          shall be deemed to restrict the ability of any Holder to exercise any stock
          options, convertible securities or warrants of the Company held by such
          Holder
          prior to the termination hereof.&#160;&#160;Except as otherwise provided herein,
          no Holder shall deposit (or permit the deposit of) any of such Holder's
          Subject
          Securities in a voting trust or grant any proxy or enter into any voting
          agreement or similar agreement with respect to any of such Subject Securities
          or
          in any way grant any other Person any right whatsoever with respect to
          the
          voting or disposition of such Subject Securities.&#160;&#160;For purposes
          hereof, a Person shall be deemed to have effected a "<u>Transfer</u>" of Subject
          Securities if such Person directly or indirectly: (i) sells, pledges, encumbers,
          grants an option with respect to, transfers, assigns, or otherwise disposes
          of
          such security, or any interest in such security; or (ii) enters into an
          agreement or commitment providing for the sale of, pledge of, encumbrance
          of,
          grant of an option with respect to, transfer of or disposition of such
          shares or
          any interest therein.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Agreement
          to Vote Shares</u>.&#160;&#160;At any meeting of stockholders of the Company or
          at any adjournment thereof, in any action by written consent or in any
          other
          circumstances upon which any Holder's vote, consent or other approval is
          sought
          in connection with the Merger, such Holder shall vote (or cause to be voted)
          all
          of such Holder's Subject Securities that are then entitled to be voted
          on the
          Merger (i) in favor of the Merger and each of the terms of the Merger Agreement
          and the transactions and other agreements reflected therein, (ii) against
          any
          proposal, amendment or agreement that would in any manner impede, frustrate,
          prevent or nullify the Merger Agreement, the Merger or this Agreement or
          change
          in any manner the voting rights of any class of capital stock of the Company
          and
          (iii) against any proposed Transaction Proposal.&#160;&#160;Each Holder shall
          execute and deliver to the Company a written consent in favor of the Merger
          and
          the terms of the Merger Agreement and the transactions and other agreements
          reflected therein as soon as practicable and in any event, within two business
          days after the date of receipt from the Company of a written consent in
          proper
          form if no meeting of the Company stockholders has then been called for
          such
          purpose.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Director
          Matters Excluded</u>.&#160;&#160;No provision of this Agreement shall limit or
          otherwise restrict any Holder with respect to any vote that such Holder
          or any
          of such Holder's representatives may make solely in his or her capacity
          as a
          director of the Company with respect to a matter presented to the Company's
          board of directors.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Irrevocable
          Proxy</u>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Concurrently
          with the execution of this Agreement, each Holder has executed and delivered
          to
          Parent and Merger Sub an irrevocable proxy in the form attached hereto
          as
<u>Exhibit A</u> (the "<u>Proxy</u>"), which shall be irrevocable to the fullest
          extent permissible by law, with respect to such Holder's Subject
          Securities.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
          for
          any reason the proxy granted pursuant to this Agreement by a Holder is
          not
          irrevocable, then such Holder agrees to vote such Holder's Subject Securities
          that are then entitled to vote on the Merger in accordance with Section
          2
          hereof.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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            <div style="WIDTH: 100%; TEXT-ALIGN: center">
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            </div>
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            </div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Representations
          and Warranties of Holders</u>.&#160;&#160;Each Holder hereby represents and
          warrants as to itself, severally and not jointly with any other Holder,
          to
          Parent, Merger Sub and the Company as follows:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Such
          Holder (i) is the record and beneficial owner of the Subject Securities
          set
          forth opposite the name of such Holder on <u>Schedule 1</u> attached hereto,
          free and clear of any liens, adverse claims, charges or other encumbrances
          of
          any nature whatsoever (other than pursuant to (x) applicable restrictions
          on
          transfer under applicable securities laws or (y) this Agreement), and (ii)
          does
          not beneficially own any securities of the Company other than such Subject
          Securities.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Except
          as
          set forth on <u>Schedule 1</u> attached hereto, such Holder has the sole right
          to Transfer, to vote and to direct the voting of the Subject Securities
          set
          forth opposite the name of such Holder on <u>Schedule 1</u> attached hereto, and
          none of such Subject Securities are subject to any voting trust or other
          agreement, arrangement or restriction with respect to the Transfer or the
          voting
          of such Subject Securities, except as set forth in this Agreement.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Such
          Holder:&#160;&#160;(i) is duly organized, validly existing and in good standing
          under the laws of its jurisdiction of organization; and (ii) has the requisite
          corporate, company, partnership or other power and authority to execute
          and
          deliver this Agreement and the Proxy, to consummate the transactions
          contemplated hereby and thereby and to comply with the terms hereof and
          thereof.&#160;&#160;The execution and delivery by such Holder of this Agreement
          and the Proxy, the consummation by such Holder of the transactions contemplated
          hereby and thereby and the compliance by such Holder with the provisions
          hereof
          and thereof have been duly authorized by all necessary corporate, company,
          partnership or other action on the part of such Holder, and no other corporate,
          company, partnership or other proceedings on the part of such Holder are
          necessary to authorize this Agreement and the Proxy, to consummate the
          transactions contemplated hereby and thereby or to comply with the provisions
          hereof or thereof.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
          of
          this Agreement and the Proxy has been duly executed and delivered by such
          Holder, constitutes a valid and binding obligation of such Holder and is
          enforceable against such Holder in accordance with its terms.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          execution and delivery of this Agreement and the Proxy, the consummation
          of the
          transactions contemplated hereby and thereby and compliance with the provisions
          hereof and thereof do not and will not conflict with, or result in any
          violation
          or breach of, or default (with or without notice or lapse of time, or both)
          under, any provision of (i) the certificate of incorporation or by-laws,
          partnership agreement or limited liability company agreement (or similar
          organizational documents) of such Holder, if applicable, (ii) any (A) statute,
          law, ordinance, rule or regulation or (B) judgment, order or decree, in
          each
          case, applicable to such Holder or its properties or assets, or (iii) any
          contract, trust, commitment, agreement, understanding, arrangement or
          restriction of any kind to which such Holder is a party or by which such
          Holder
          or such Holder's assets are bound.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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            </div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Such
          Holder has such knowledge and experience in financial and business matters
          that
          it is capable of evaluating the merits and risks of the investment in Parent
          Common Stock that such Holder is making by reason of the Merger and the
          other
          transactions contemplated by the Merger Agreement and by reason of executing
          and
          delivering this Agreement, and, in connection therewith, has performed
          a due
          diligence review of Parent and its business and financial condition satisfactory
          to such Holder.&#160;&#160;Such Holder's financial condition is such that it is
          able to bear all economic risks of such investment in Parent Common Stock,
          including a complete loss of such Holder's investment therein.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">6.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Termination</u>.&#160;&#160;This
          Agreement shall terminate upon the earliest to occur of (i) the termination
          of
          the Merger Agreement in accordance with its terms and (ii) the Effective
          Time of
          the Merger.&#160;&#160;In the event of the termination of this Agreement, this
          Agreement and the Proxy shall forthwith become null and void, there shall
          be no
          liability on the part of any of the parties hereto, and all rights and
          obligations of each party hereto shall cease; <u>provided</u>, <u>however</u>,
          that no such termination of this Agreement shall relieve any party hereto
          from
          any liability for any breach of any provision of this Agreement prior to
          termination.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">7.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Further
          Covenants and Assurances</u>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
          Holder shall not, and such Holder shall not permit any of its affiliates,
          directors, officers, employees, investment bankers, attorneys or other
          advisors
          or representatives to, directly or indirectly (i) solicit, initiate or
          knowingly
          encourage the submission of any proposal regarding a Transaction Proposal
          or
          (ii) take any action to facilitate the making of any proposal that constitutes,
          or may reasonably be expected to lead to, a proposal regarding a Transaction
          Proposal.&#160;&#160;Each Holder shall, from time to time, execute and deliver,
          or cause to be executed and delivered, such additional or further consents,
          documents and other instruments as Parent may reasonably request for the
          purpose
          of effectively carrying out the provisions of this Agreement and the
          transactions contemplated hereby.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
          any
          Holder (in such capacity or otherwise) receives an unsolicited inquiry,
          proposal
          or offer relating to a Transaction Proposal from any Person, such Holder
          shall
          (i) promptly notify Parent of the same and the details thereof (including
          the
          identity of the Person making same), (ii) provide to Parent a copy of any
          written inquiry, proposal or offer and all correspondence related thereto,
          and
          (iii) keep Parent informed of the status thereof.&#160;&#160;Each Holder shall
          immediately cease and cause to be terminated any existing activities,
          discussions or negotiations with any Persons conducted prior to the date
          hereof
          with respect to any Transaction Proposal.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">8.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Successors,
          Assigns and Transferees Bound</u>.&#160;&#160;Without limiting Section 1 hereof
          in any way, each Holder agrees that this Agreement and the obligations
          hereunder
          shall attach to such Holder's Subject Securities from the date hereof through
          the termination of this Agreement and shall be binding upon any Person
          to which
          legal or beneficial ownership of such Subject Securities shall pass, whether
          by
          operation of law or otherwise, including such Holder's heirs, guardians,
          administrators or successors, and such Holder further agrees to take all
          actions
          necessary to effectuate the foregoing.&#160;&#160;Any shares of the Company's
          capital stock or any stock options, convertible securities, or warrants
          (whether
          or not vested) to acquire shares of the Company's capital stock received
          by any
          Holder in connection with any stock split, stock dividend, reclassification,
          merger, reorganization, recapitalization or other change in the capital
          structure of the Company affecting the capital stock of the Company shall
          be
          Subject Securities of such Holder, and this Agreement and the representations,
          warranties, covenants, agreements and obligations hereunder shall attach
          to any
          such additional Subject Securities of such Holder.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">9.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Deposit</u>.&#160;&#160;Each
          Holder shall cause a counterpart of this Agreement to be deposited with
          the
          Company at its principal place of business or registered office where it
          shall
          be subject to the same right of examination by a stockholder of the Company,
          in
          person or by agent or attorney, as are the books and records of the
          Company.</font></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
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            </div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Public
          Disclosure</u>.&#160;&#160;Except as contemplated by the Merger Agreement or as
          otherwise required by applicable law (including applicable securities laws)
          no
          disclosure (whether or not in response to an inquiry) of the subject matter
          of
          this Agreement or the Merger Agreement shall be made prior to the Effective
          Time
          of the Merger by any Holder (including any third party representatives
          of any
          Holder) (other than disclosures to managers, advisors or equity holders
          of a
          Holder in connection with the approval of the Merger Agreement, if applicable)
          unless approved by Parent prior to release; provided that such approval
          shall
          not be unreasonably withheld, conditioned or delayed.&#160;&#160;Notwithstanding
          the immediately preceding sentence, in the event that a Holder is required
          by
          applicable law to make any such disclosure, such Holder may make such
          disclosure; provided that such Holder shall notify Parent prior to making
          such
          disclosure and shall use its commercially reasonable efforts to give Parent
          an
          opportunity (as is reasonable under the circumstances) to comment on such
          disclosure.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">11.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Remedies</u>.&#160;&#160;Each
          Holder acknowledges that money damages would be both incalculable and an
          insufficient remedy for any breach of this Agreement by it, and that any
          such
          breach would cause Parent irreparable harm.&#160;&#160;Accordingly, each Holder
          agrees that in the event of any breach or threatened breach of this Agreement,
          Parent, in addition to any other remedies at law or in equity it may have,
          shall
          be entitled to seek immediate equitable relief, including injunctive relief
          and
          specific performance, without the necessity of proving the inadequacy of
          money
          damages as a remedy and without the necessity of posting any bond or other
          security, to prevent breaches of this Agreement and to enforce specifically
          the
          terms and provisions hereof in any court of the United States or any state
          having jurisdiction.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">12.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Severability</u>.&#160;&#160;The
          invalidity or unenforceability of any provision of this Agreement in any
          jurisdiction shall not affect the validity or enforceability of any other
          provision of this Agreement in such jurisdiction, or the validity or
          enforceability of any provision of this Agreement in any other
          jurisdiction.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">13.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Entire
          Agreement/Amendment</u>.&#160;&#160;This Agreement represents the entire
          agreement of the parties with respect to the subject matter
          hereof.&#160;&#160;This Agreement may not be amended, modified, altered or
          supplemented except by means of a written instrument executed and delivered
          by
          each of the parties hereto.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">14.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Governing
          Law</u>.&#160;&#160;This Agreement shall be construed in accordance with, and
          governed in all respects by, the internal laws of the Commonwealth of
          Massachusetts.&#160;&#160;Unless otherwise explicitly provided in this
          Agreement, any action, claim, suit or proceeding relating to this Agreement
          or
          the enforcement of any provision of this Agreement shall be brought or
          otherwise
          commenced in any state or federal court located in Suffolk County,
          Massachusetts.&#160;&#160;Each party hereto (i) expressly and irrevocably
          consents and submits to the jurisdiction of each such court, and each appellate
          court located in Suffolk County, Massachusetts, in connection with any
          such
          proceeding; (ii) agrees that each such court shall be deemed to be a convenient
          forum; and (iii) agrees not to assert, by way of motion, as a defense or
          otherwise, in any such proceeding commenced in any such court, any claim
          that
          such party is not subject personally to the jurisdiction of such court,
          that
          such proceeding has been brought in an inconvenient forum, that the venue
          of
          such proceeding is improper or that this Agreement or the subject matter
          of this
          Agreement may not be enforced in or by such court.</font></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">15.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Counterparts</u>.&#160;&#160;For
          the convenience of the parties hereto, this Agreement may be executed in
          counterparts, each of which shall be deemed an original, but all of which
          together shall constitute one and the same instrument.</font></div>
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        </div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 12pt;">In
          Witness Whereof</font>, each of the
          parties hereto has caused this Voting Agreement to be executed as of the
          date
          first above written.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Holders</u>:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Parent</u>:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
          Pharmaceuticals, Inc.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 252pt;"></font>By:&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 256.5pt;"></font>Name:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 256.5pt;"></font>Title:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Merger
          Sub</u>:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Somanta
          Acquisition Corporation</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 252pt;"></font>By:&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 256.5pt;"></font>Name:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 256.5pt;"></font>Title:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">C-7</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Schedule
          1</u></font></div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Subject
          Securities</font></div>
        <div><br></div>
        <div><br></div><br>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">C-8</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Exhibit
          A</u></font></div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Irrevocable
          Proxy</font></div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          undersigned holder (the "<u>Holder</u>") of outstanding securities of Somanta
          Pharmaceuticals, Inc., a Delaware corporation (the "<u>Company</u>"), solely in
          its capacity as a holder of securities of the Company, hereby irrevocably
          appoints Stephen Seiler and Stephen Thompson of Access Pharmaceuticals,
          Inc., a
          Delaware corporation ("<u>Parent</u>"), and each of them, as the sole and
          exclusive attorneys and proxies of the Holder, with full power of substitution
          and resubstitution, to vote and exercise all voting, consent and similar
          rights
          with respect to all of the Holder's Subject Securities (as defined in the
          Voting
          Agreement (as defined below)) until the Expiration Date (as defined below),
          on
          the terms and conditions specified below.&#160;&#160;Upon the Holder's execution
          of this Irrevocable Proxy, any and all prior proxies given by the Holder
          with
          respect to any of the Holder's Subject Securities are hereby revoked and
          the
          Holder agrees not to grant any subsequent proxies with respect to any of
          the
          Holder's Subject Securities until after the Expiration Date.</font></div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
          Irrevocable Proxy is irrevocable, is coupled with an interest sufficient
          in law
          to support an irrevocable power made for the benefit of third parties,
          and is
          granted pursuant to that certain Voting Agreement (the "<u>Voting
          Agreement</u>"), of even date herewith, by and among Parent, Merger Sub (as
          defined below), the Holder and the other parties named therein, and is
          granted
          solely in furtherance of the Holder's undertaking to vote the Holder's
          Subject
          Securities as required by the Voting Agreement contemplated by that certain
          Agreement and Plan of Merger of even date herewith (as amended, restated
          or
          supplemented from time to time, the "<u>Merger Agreement</u>"), by and among
          Parent, Somanta Acquisition Corporation, a Delaware corporation and a
          wholly-owned subsidiary of Parent ("<u>Merger Sub</u>"), the Company and the
          other parties named therein.&#160;&#160;The Merger Agreement provides for the
          merger (the "<u>Merger</u>") of Merger Sub with and into the Company, with the
          Company continuing as the surviving corporation, in accordance with its
          terms.&#160;&#160;As used herein, the term "<u>Expiration Date</u>" shall mean
          the date of termination of the Voting Agreement in accordance with its
          terms.</font></div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          attorneys and proxies named above are hereby authorized and empowered by
          the
          Holder, at any time prior to the Expiration Date, to act as the Holder's
          attorneys and proxies to vote the Holder's Subject Securities, and to exercise
          all voting, consent and similar rights of the Holder with respect to the
          Holder's Subject Securities (including, without limitation, the power to
          execute
          and deliver written consents) at every annual, special or adjourned meeting
          of
          stockholders of the Company and in every written consent in lieu of such
          meeting
          (i) in favor of the Merger and each of the terms of the Merger Agreement
          and the
          transactions and other agreements reflected therein, (ii) against any proposal,
          amendment or agreement that would in any manner impede, frustrate, prevent
          or
          nullify the Merger Agreement, the Merger or the Voting Agreement or change
          in
          any manner the voting rights of any class of capital stock of the Company
          and
          (iii) against any Transaction Proposal (as defined in the Merger
          Agreement).&#160;&#160;The Holder may vote the Holder's Subject Securities on
          all other matters not referred to in this Irrevocable Proxy, and the attorneys
          and proxies named above may not exercise this Irrevocable Proxy with respect
          to
          such other matters.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Any
          obligation hereunder of the Holder shall be binding upon the successors
          and
          assigns of the Holder.&#160;&#160;This Irrevocable Proxy shall terminate, and be
          of no further force or effect, automatically upon the Expiration
          Date.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>[Remainder
          of page intentionally left blank]</em></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>&#160;</div><br>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">C-9</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 12pt;">In
          Witness Whereof</font>, the
          undersigned Holder has caused this Irrevocable Proxy to be executed as
          of April
          ___, 2007.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 252pt;"></font><u>Holder</u>:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Name:</font></div>
        <div><br></div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 252pt;"></font>By:&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 256.5pt;"></font>Name:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 256.5pt;"></font>Title:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">C-10</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>PART
      II</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>INFORMATION
      NOT REQUIRED IN PROSPECTUS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ITEM
      20. INDEMNIFICATION OF DIRECTORS AND OFFICERS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      Registrant is incorporated under the laws of the State of Delaware. The Delaware
      General Corporation Law (the &#8220;DGCL&#8221;) provides that a Delaware corporation may
      indemnify any persons who are, or are threatened to be made, parties to any
      threatened, pending or completed action, suit or proceeding, whether civil,
      criminal, administrative or investigative (other than an action by or in the
      right of such corporation), by reason of the fact that such person was an
      officer, director, employee or agent of such corporation, or is or was serving
      at the request of such person as an officer, director, employee or agent of
      another corporation or enterprise. The indemnity may include expenses (including
      attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and
      reasonably incurred by such person in connection with such action, suit or
      proceeding, provided that such person acted in good faith and in a manner he
      reasonably believed to be in or not opposed to the corporation&#8217;s best interests
      and, with respect to any criminal action or proceeding, had no reasonable cause
      to believe that his conduct was illegal. A Delaware corporation may indemnify
      any persons who are, or are threatened to be made, a party to any threatened,
      pending or completed action or suit by or in the right of the corporation by
      reason of the fact that such person was a director, officer, employee or agent
      of such corporation, or is or was serving at the request of such corporation
      as
      a director, officer, employee or agent of another corporation or enterprise.
      The
      indemnity may include expenses (including attorneys&#8217; fees) actually and
      reasonably incurred by such person in connection with the defense or settlement
      of such action or suit provided such person acted in good faith and in a manner
      he reasonably believed to be in or not opposed to the corporation&#8217;s best
      interests except that no indemnification is permitted without judicial approval
      if the officer or director is adjudged to be liable to the corporation. Where
      an
      officer or director is successful on the merits or otherwise in the defense
      of
      any action referred to above, the corporation must indemnify him against the
      expenses which such officer or director has actually and reasonably incurred.
      Access&#8217; certificate of incorporation provides for the indemnification of
      directors and officers of the Access to the fullest extent permitted by DGCL.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Section&#160;102(b)(7)
      of the DGCL permits a corporation to provide in its certificate of incorporation
      that a director of the corporation shall not be personally liable to the
      corporation or its stockholders for monetary damages for breach of fiduciary
      duties as a director, except for liability (i)&#160;for any transaction from
      which the director derives an improper personal benefit, (ii)&#160;for acts or
      omissions not in good faith or that involve intentional misconduct or a knowing
      violation of law, (iii)&#160;for improper payment of dividends or redemptions of
      shares, or (iv)&#160;for any breach of a director&#8217;s duty of loyalty to Access or
      its stockholders. Access&#8217; Certificate of Incorporation includes such an
      indemnification provision under which Access has agreed to indemnify its
      directors and officers from and against certain claims arising from or related
      to future acts or omissions as directors or officers. Insofar as indemnification
      for liabilities arising under the Securities Act of 1933 may be permitted to
      its
      directors, officers and controlling persons pursuant to the foregoing, or
      otherwise, Access has been advised that in the opinion of the SEC such
      indemnification is against public policy as expressed in the Securities Act
      of
      1933 and is, therefore, unenforceable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">As
      permitted by Delaware law, Access has entered into employment agreements each
      of
      which contains indemnity provisions with each of its executive officers that
      require Access to indemnify such persons against loss, costs and expenses
      (including reasonable attorney&#8217;s fees) in connection with any proceeding,
      whether actual or threatened, to which any such person may be made a party
      by
      reason of the fact that such person is or was a director or an executive officer
      of Access or any of its affiliated enterprises. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access
      maintains directors&#8217; and officers&#8217; liability insurance for the benefit of its
      directors and certain of its officers. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">II-1</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      merger agreement provides that, from the effective time of the merger, the
      combined company shall jointly and severally indemnify, defend and hold harmless
      each Indemnified Party (as defined in the merger agreement) against (i) all
      losses claims, fines, damages, costs, expenses, liabilities or judgments based
      in whole or in part out of the fact that such person is or was a director,
      officer, or employee of Somanta or any of its subsidiaries, pertaining to any
      matter existing or occurring at or prior to the effective time of the merger,
      whether asserted or claimed prior to, or at or after, the effective time of
      the
      merger and (ii) all losses claims, fines, damages, costs, expenses, liabilities
      or judgments based in whole or in part out of, or pertaining to the merger
      agreement or the transaction contemplated by the merger agreement. The merger
      agreement also provides that the combined company shall extend coverage under
      Somanta&#8217;s directors&#8217; and officers&#8217; liability insurance policy covering the
      directors and officers of Somanta as of the date of the merger agreement by
      obtaining a six-year &#8220;tail&#8221; policy, if the &#8220;tail&#8221; policy does not cost more than
      $150,000 in the aggregate. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Access&#8217;
      certificate of incorporation automatically provides for the elimination of
      the
      personal liability of Access&#8217; directors for monetary damages resulting from
      breaches of their fiduciary duty to the fullest extent permitted under
      applicable law. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ITEM
      21. EXHIBITS </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Exhibit</u></font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Number</u></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Description
                of Document</u></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: -99pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.1</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amended
                and Restated Agreement of Merger and Plan of Reorganization between
                Access
                Pharmaceuticals, Inc. and Chemex Pharmaceuticals, Inc., dated as
                of
                October 31, 1995 (Incorporated by reference to Exhibit A of the our
                Registration Statement on Form S-4 dated December 21, 1995, Commission
                File No. 33-64031)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.2</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Agreement
                and Plan of Merger, by and among Access Pharmaceuticals, Inc., Somanta
                Acquisition Corporation, Somanta Pharmaceuticals, Inc. Somanta
                Incorporated and Somanta Limited, dated April 18, 2007. (Incorporated
                by
                reference to Exhibit 2.1 to our Form 8-K dated April 18,
                2007)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.0</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Articles
                of incorporation and bylaws</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.1</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                of Incorporation (Incorporated by Reference to Exhibit 3(a) of our
                Form
                8-B dated July 12, 1989, Commission File Number
                9-9134)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.2</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                of Amendment of Certificate of Incorporation filed August 21,
                1992</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.3</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                of Merger filed January 25, 1996. (Incorporated by reference to Exhibit
                E
                of our Registration Statement on Form S-4 dated December 21, 1995,
                Commission File No. 33-64031)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.4</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                of Amendment of Certificate of Incorporation filed January 25, 1996.
                (Incorporated by reference to Exhibit E of our Registration Statement
                on
                Form S-4 dated December 21, 1995, Commission File No.
                33-64031)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.5</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                of Amendment of Certificate of Incorporation filed July 18, 1996.
                (Incorporated by reference to Exhibit 3.8 of our Form 10-K for the
                year
                ended December 31, 1996)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.6</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                of Amendment of Certificate of Incorporation filed June 18, 1998.
                (Incorporated by reference to Exhibit 3.8 of our Form 10-Q for the
                quarter
                ended June 30, 1998</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.7</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                of Amendment of Certificate of Incorporation filed July 31, 2000.
                (Incorporated by reference to Exhibit 3.8 of our Form 10-Q for the
                quarter
                ended March 31, 2001)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.8</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                of Designations of Series A Junior Participating Preferred Stock
                filed
                November 7, 2001 (Incorporated by reference to Exhibit 4.1.h of our
                Registration Statement on Form S-8, dated December 14, 2001, Commission
                File No. 333-75136)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.9</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amended
                and Restated Bylaws (Incorporated by reference to Exhibit 3.1 of
                our Form
                10-Q for the quarter ended June 30,
                1996)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font>5.0</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;</font>Legal
              Opinion of Bingham McCutchen LLP</td>
          </tr>

      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.1*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1995
                Stock Option Plan (Incorporated by reference to Exhibit F of our
                Registration Statement on Form S-4 dated December 21, 1995, Commission
                File No. 33-64031</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.2*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                to 1995 Stock Option Plan (Incorporated by reference to Exhibit 10.25
                of
                our Form 10-K for the year ended December 31,
                2001)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.3</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lease
                Agreement between Pollock Realty Corporation and us dated July 25,
                1996
                (Incorporated by reference to Exhibit 10.19 of our Form 10-Q for
                the
                quarter ended September 30, 1996)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.4</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Platinate
                HPMA Copolymer Royalty Agreement between The School of Pharmacy,
                University of London and the Company dated November 19, 1996 (Incorporated
                by reference to Exhibit 10.19 of our Form 10-Q for the quarter ended
                September 30, 1996)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">II-2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.5*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Employment
                Agreement of David P. Nowotnik, PhD (Incorporated by reference to
                Exhibit
                10.19 of our Form 10-K for the year ended December 31,
                1999)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.6*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">401(k)
                Plan (Incorporated by reference to Exhibit 10.20 of our Form 10K
                for the
                year ended December 31, 1999)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.7*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2000
                Special Stock Option Plan and Agreement (Incorporated by reference
                to
                Exhibit 10.24 of our Form 10-Q for the quarter ended September 30,
                2000)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.8</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Form
                of Convertible Note (Incorporated by reference to Exhibit 10.24 of
                our
                Form 10-Q for the quarter ended September 30,
                2000)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.9</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rights
                Agreement, dated as of October 31, 2001 between the us and American
                Stock
                Transfer &amp; Trust Company, as Rights Agent (incorporated by reference
                to Exhibit 99.1 of our Current Report on Form 8-K dated October 19,
                2001)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.10</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                to Rights Agreement, dated as of February 16, 2006 between us and
                American
                Stock Transfer &amp; Trust Company, as Rights Agent
                (2)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.11*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2001
                Restricted Stock Plan (incorporated by reference to Appendix A of
                our
                Proxy Statement filed on April 16,
                2001)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.12*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005
                Equity Incentive Plan (incorporated by reference to Exhibit 1 of
                our Proxy
                Statement filed on April 18, 2005
                (2)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.13*</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Agreement,
      dated as of May 10, 2005 by and between us and Kerry P. Gray (1)</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.14*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Employment
                Agreement, dated as of June 1, 2005 by and between us and Stephen
                B.
                Thompson (1)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.15</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Asset
                Sale Agreement, dated as of October 12, 2005, between us and Uluru,
                Inc.
                (1)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.16</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                to Asset Sale Agreement, dated as December 8, 2006, between us and
                Uluru,
                Inc.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.17</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">License
                Agreement, dated as of October 12, 2005, between us and Uluru, Inc.
                (1)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.18</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                to 7% (Subject to Adjustment) Convertible Promissory Notes Due September
                13, 2005, dated as of November 3, 2005, between us and Oracle Partners
                LP,
                Oracle Institutional Holders LP, SAM Oracle Investments Inc. and
                Oracle
                Offshore Ltd. (1)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.19</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
                and Warrant Purchase Agreement, dated February 16, 2006 between us
                and
                certain Secured Parties (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.20</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Security
      Agreement, dated February 16, 2006, between us and certain Secured Parties
      (2)</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.21</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                of 7.5% Secured Convertible Promissory Note, dated February 16, 2006,
                issued by us and to certain Purchasers
                (2)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.22</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                of Warrant, dated February 16, 2006, issued by us to certain Purchasers
                (2)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.23</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Investor
                Rights Agreement, dated February 16, 2006, between us and certain
                Purchasers (2)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.24</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
                and Warrant Purchase Agreement, dated October 24, 2006 between us
                and
                certain Secured Parties (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.25</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Security
                Agreement, dated October 24, 2006, between us and certain Secured
                Parties
                (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.26</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                of 7.5% Secured Convertible Promissory Note, dated October 24, 2006,
                issued by us and to certain Purchasers
                (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.27</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                of Warrant, dated October 24, 2006, issued by us to certain Purchasers
                (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.28</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Investor
                Rights Agreement, dated October 24, 2006, between us and certain
                Purchasers (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.29</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
                and Warrant Purchase Agreement, dated December 6, 2006 between us
                and
                certain Secured Parties (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.30</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Security
                Agreement, dated December 6, 2006, between us and certain Secured
                Parties
                (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.31</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                of 7.5% Secured Convertible Promissory Note, dated December 6, 2006,
                issued by us and to certain Purchasers
                (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.32</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                of Warrant, December 6, 2006, issued by us to certain Purchasers
                (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.33</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Investor
                Rights Agreement, dated December 6, 2006, between us and certain
                Purchasers (3)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.35</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007
                Special Stock Option Plan and Agreement, dated January 4, 2007, by
                and
                between us and Stephen R. Seiler, President and Chief Executive Officer
                (4)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.36</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Employment
                Agreement, dated January 4, 2007 by and between us and Stephen R.
                Seiler,
                President and Chief Executive Officer
                (4)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.37</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                to 7.0% (Subject to Adjustment) Convertible Promissory Notes Due
                April 28,
                2007, dated April 24, 2007 by and between us and Oracle Partners
                LP and
                affiliates (4)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.38</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                to Amended and Restated 7.5% Secured Convertible Promissory Notes
                Due
                April 27, 2007, dated April 26, 2007 by and between us and SCO Capital
                Partners LLC, Beach Capital LLC and Lake End Capital LLC
                (4)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">II-3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 36pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.39</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                To Investor Rights Agreements, dated April 30, 2007 by and between
                us and
                SCO Capital Partners LLC and Lake End Capital LLC
                (4)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23.1</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consent
                of Whitley Penn LLP</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23.2</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consent
                of Grant Thornton LLP</font></div>
            </td>
          </tr>

      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;<font size="3">23.3</font></font></td>
            <td align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consent
              of Stonefield Josephson Inc.</font></font></td>
          </tr>

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          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;23.4</font></td>
            <td align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consent
              of&#160;Bingham McCutchen LLP&#160;</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -126pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exhib</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td style="WIDTH: 27pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">*</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Management
                contract or compensatory plan required to be filed as an Exhibit
                to this
                Form pursuant to Item 15(c) of the
                report.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 45pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Incorporated
                by reference to our Form 10-K for the year ended December 31,
                2005.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 45pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Incorporated
                by reference to our Form 10-Q for the quarter ended March 31,
                2006.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 45pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Incorporated
                by reference to our Form 10-K for the year ended December 31,
                2006.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="LINE-HEIGHT: 1.25;">
            <td align="right" style="WIDTH: 45pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Incorporated
                by reference to our Form 10-Q for the quarter ended March 31,
                2007.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>ITEM
      22. UNDERTAKINGS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      undersigned Registrant hereby undertakes:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Each
      prospectus filed pursuant to Rule 424(b) as part of a registration statement
      relating to an offering, other than registration statements relying on Rule
      430B
      or other than prospectuses filed in reliance on Rule 430A, shall be deemed
      to be
      part of and included in the registration statement as of the date it is first
      used after effectiveness. Provided, however, that no statement made in a
      registration statement or prospectus that is part of the registration statement
      or made in a document incorporated or deemed incorporated by reference into
      the
      registration statement or prospectus that is part of the registration statement
      will, as to a purchaser with a time of contract of sale prior to such first
      use,
      supersede or modify any statement that was made in the registration statement
      or
      prospectus that was part of the registration statement or made in any such
      document immediately prior to such date of first use.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Insofar
      as indemnification for liabilities arising under the Securities Act of 1933
      (the
&#8220;Act&#8221;) may be permitted to directors, officers and controlling persons of the
      small business issues pursuant to the foregoing provisions, or otherwise, the
      small business issuer 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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      undersigned registrant hereby undertakes to respond to requests for information
      that is incorporated by reference into the prospectus pursuant to Item 4, 10(b),
      11, or 13 of this form, within one business day of receipt of such request,
      and
      to send the incorporated documents by first class mail or other equally prompt
      means. This includes information contained in documents filed subsequent to
      the
      effective date of the registration statement through the date of responding
      the
      request.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">The
      undersigned registrant hereby undertakes to supply by means of a post-effective
      amendment all information concerning a transaction, and the company being
      acquired involved therein, that was not the subject of and included in the
      registration statement when it became effective.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">II-4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">&#160;</div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td colspan="5" valign="middle" width="72%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>SIGNATURES</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="3" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="3" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="5" valign="middle" width="72%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Pursuant
                to the requirements of the Securities Act, the registrant has duly
                caused
                this registration statement to be signed on its behalf by the undersigned,
                thereunto duly authorized, in the City of Dallas, State of Texas,
                on June
                7, 2007. </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="3" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="4" valign="middle" width="39%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Access
                Pharmaceuticals, Inc.</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
            <td align="left" colspan="3" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:&#160;June
                7, 2007</font></div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">By</font></div>
            </td>
            <td align="left" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">/s/&#160;Stephen
                R. Seiler</font></div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="19%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="17%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                R. Seiler</font></div>
            </td>
            <td align="left" colspan="2" valign="middle" width="19%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="3" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Chief
                Executive Officer and President</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="3" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Principal
                Executive Officer)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="middle" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:&#160;June
                7, 2007</font></div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">By</font></div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">/s/&#160;Stephen
                B. Thompson</font></div>
            </td>
            <td align="left" valign="middle" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="2" valign="middle" width="20%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                B. Thompson</font></div>
            </td>
            <td align="left" valign="middle" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="3" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Chief
                Financial Officer and Treasurer</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" colspan="2" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="3" valign="middle" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Principal
                Financial and Accounting Officer)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>POWER
      OF ATTORNEY</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">We,
      the
      undersigned directors of Access Pharmaceuticals, Inc., hereby severally
      constitute and appoint Stephen R. Seiler and Stephen B. Thompson, and both
      or
      either one of them, our true and lawful attorneys-in-fact and agents, with
      full
      power of substitution and re-substitution in for him and in his name, place
      and
      stead, and in any and all capacities, to sign any and all amendments (including
      post-effective amendments) to this Registration Statement, and any subsequent
      registration statements pursuant to Rule 462 of the Securities Act, and to
      file
      the same, with all exhibits thereto and other documents in connection therewith,
      with the Securities and Exchange Commission, granting unto said
      attorneys-in-fact and agents, and each of them, full power and authority to
      do
      and perform each and every act and thing requisite and necessary to be done
      in
      and about the premises, as fully to all intents and purposes as he might or
      could do in person, hereby ratifying and confirming all that each of said
      attorneys-in-fact or his substitute or substitutes, may lawfully do or cause
      to
      be done by virtue hereof. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">In
      accordance with the Securities Exchange Act of 1934, this report has been signed
      below by the following persons on behalf of the registrant and in the capacities
      and on the dates indicated.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:&#160;June
                  7, 2007</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">/s/
                  Stephen R. Seiler</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff 2px solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                  R. Seiler, President and </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Chief
                  Executive Officer, Director</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:
                  June 7, 2007</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">/s/
                  Mark J. Ahn</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff 2px solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mark
                  J. Ahn, Director</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" valign="top" width="18%">&#160;</td>
              <td align="left" valign="top" width="18%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: #ffffff solid">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:
                June 7, 2007</font></td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">&#160;/s/
                Mark J. Alvino </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Mark
                  J. Alvino, Director</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div align="left">
      <div>
      </div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">II-5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div>&#160;</div>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:
                    June 7, 2007</font></div>
                </div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">&#160;/s/
<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Esteban
                Cvitkovic, MD</font></td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%" style="BORDER-BOTTOM: #ffffff 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Esteban
                  Cvitkovic, MD</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%" style="BORDER-BOTTOM: #ffffff 2px solid">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:
                  June 7, 2007</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">/s/
                  Jeffrey B. Davis</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">&#160;</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff 2px solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Jeffrey
                  B. Davis, Director</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: #ffffff solid">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:
                June 7, 2007</font></td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">/s/
                Stephen B. Howell</font></td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Stephen
                  B. Howell, MD, Director</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: #ffffff solid"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:
                June 7, 2007</font></td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">/s/
                David P. Luci</td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">David
                  P. Luci, Director</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: #ffffff solid">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:
                June 7, 2007</font></td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">/s/
                Rosemary Mazanet</td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rosemary
                  Mazanet, MD, PhD, Director</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%" style="BORDER-BOTTOM: #ffffff solid">&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Date:
                June 7, 2007</font></td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">/s/
                John J. Meakem, Jr</td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: #ffffff solid">
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="36%">&#160;</td>
              <td align="left" colspan="2" valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">John
                  J. Meakem, Jr., Director</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">II-6</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div>
        <div align="left">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      INDEX</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Exhibit</u></font></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Number</u></font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><u>Description
                  of Document</u></font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 117pt; TEXT-INDENT: -99pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.1</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amended
                  and Restated Agreement of Merger and Plan of Reorganization between
                  Access
                  Pharmaceuticals, Inc. and Chemex Pharmaceuticals, Inc., dated as
                  of
                  October 31, 1995 (Incorporated by reference to Exhibit A of the
                  our
                  Registration Statement on Form S-4 dated December 21, 1995, Commission
                  File No. 33-64031)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2.2</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Agreement
                  and Plan of Merger, by and among Access Pharmaceuticals, Inc.,
                  Somanta
                  Acquisition Corporation, Somanta Pharmaceuticals, Inc. Somanta
                  Incorporated and Somanta Limited, dated April 18, 2007. (Incorporated
                  by
                  reference to Exhibit 2.1 to our Form 8-K dated April 18,
                  2007)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.0</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Articles
                  of incorporation and bylaws</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.1</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                  of Incorporation (Incorporated by Reference to Exhibit 3(a) of
                  our Form
                  8-B dated July 12, 1989, Commission File Number
                  9-9134)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.2</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                  of Amendment of Certificate of Incorporation filed August 21,
                  1992</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.3</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                  of Merger filed January 25, 1996. (Incorporated by reference to
                  Exhibit E
                  of our Registration Statement on Form S-4 dated December 21, 1995,
                  Commission File No. 33-64031)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.4</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                  of Amendment of Certificate of Incorporation filed January 25,
                  1996.
                  (Incorporated by reference to Exhibit E of our Registration Statement
                  on
                  Form S-4 dated December 21, 1995, Commission File No.
                  33-64031)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.5</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                  of Amendment of Certificate of Incorporation filed July 18, 1996.
                  (Incorporated by reference to Exhibit 3.8 of our Form 10-K for
                  the year
                  ended December 31, 1996)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.6</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                  of Amendment of Certificate of Incorporation filed June 18, 1998.
                  (Incorporated by reference to Exhibit 3.8 of our Form 10-Q for
                  the quarter
                  ended June 30, 1998</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.7</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                  of Amendment of Certificate of Incorporation filed July 31, 2000.
                  (Incorporated by reference to Exhibit 3.8 of our Form 10-Q for
                  the quarter
                  ended March 31, 2001)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.8</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Certificate
                  of Designations of Series A Junior Participating Preferred Stock
                  filed
                  November 7, 2001 (Incorporated by reference to Exhibit 4.1.h of
                  our
                  Registration Statement on Form S-8, dated December 14, 2001, Commission
                  File No. 333-75136)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">3.9</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amended
                  and Restated Bylaws (Incorporated by reference to Exhibit 3.1 of
                  our Form
                  10-Q for the quarter ended June 30,
                  1996)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">&#160;5.0</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Opinion
                of Bingham McCutchen LLP&#160;</font></td>
            </tr>

        </table>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.1*</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">1995
                  Stock Option Plan (Incorporated by reference to Exhibit F of our
                  Registration Statement on Form S-4 dated December 21, 1995, Commission
                  File No. 33-64031</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.2*</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                  to 1995 Stock Option Plan (Incorporated by reference to Exhibit
                  10.25 of
                  our Form 10-K for the year ended December 31,
                  2001)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.3</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Lease
                  Agreement between Pollock Realty Corporation and us dated July
                  25, 1996
                  (Incorporated by reference to Exhibit 10.19 of our Form 10-Q for
                  the
                  quarter ended September 30, 1996)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.4</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Platinate
                  HPMA Copolymer Royalty Agreement between The School of Pharmacy,
                  University of London and the Company dated November 19, 1996 (Incorporated
                  by reference to Exhibit 10.19 of our Form 10-Q for the quarter
                  ended
                  September 30, 1996)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
      </div>
      <div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.5*</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Employment
                    Agreement of David P. Nowotnik, PhD (Incorporated by reference
                    to Exhibit
                    10.19 of our Form 10-K for the year ended December 31,
                    1999)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.6*</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">401(k)
                    Plan (Incorporated by reference to Exhibit 10.20 of our Form
                    10K for the
                    year ended December 31, 1999)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.7*</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2000
                    Special Stock Option Plan and Agreement (Incorporated by reference
                    to
                    Exhibit 10.24 of our Form 10-Q for the quarter ended September
                    30,
                    2000)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.8</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Form
                    of Convertible Note (Incorporated by reference to Exhibit 10.24
                    of our
                    Form 10-Q for the quarter ended September 30,
                    2000)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.9</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Rights
                    Agreement, dated as of October 31, 2001 between the us and American
                    Stock
                    Transfer &amp; Trust Company, as Rights Agent (incorporated by reference
                    to Exhibit 99.1 of our Current Report on Form 8-K dated October
                    19,
                    2001)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.10</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                    to Rights Agreement, dated as of February 16, 2006 between us
                    and American
                    Stock Transfer &amp; Trust Company, as Rights Agent
                    (2)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.11*</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2001
                    Restricted Stock Plan (incorporated by reference to Appendix
                    A of our
                    Proxy Statement filed on April 16,
                    2001)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.12*</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2005
                    Equity Incentive Plan (incorporated by reference to Exhibit 1
                    of our Proxy
                    Statement filed on April 18, 2005
                    (2)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.13*</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Agreement,
          dated as of May 10, 2005 by and between us and Kerry P. Gray (1)</font></div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.14*</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Employment
                    Agreement, dated as of June 1, 2005 by and between us and Stephen
                    B.
                    Thompson (1)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.15</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Asset
                    Sale Agreement, dated as of October 12, 2005, between us and
                    Uluru, Inc.
                    (1)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.16</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                    to Asset Sale Agreement, dated as December 8, 2006, between us
                    and Uluru,
                    Inc.</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.17</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">License
                    Agreement, dated as of October 12, 2005, between us and Uluru,
                    Inc.
                    (1)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.18</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                    to 7% (Subject to Adjustment) Convertible Promissory Notes Due
                    September
                    13, 2005, dated as of November 3, 2005, between us and Oracle
                    Partners LP,
                    Oracle Institutional Holders LP, SAM Oracle Investments Inc.
                    and Oracle
                    Offshore Ltd. (1)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
        </div>
        <div>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">1</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.19</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
                    and Warrant Purchase Agreement, dated February 16, 2006 between
                    us and
                    certain Secured Parties (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.20</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Security
          Agreement, dated February 16, 2006, between us and certain Secured Parties
          (2)</font></div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.21</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                    of 7.5% Secured Convertible Promissory Note, dated February 16,
                    2006,
                    issued by us and to certain Purchasers
                    (2)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.22</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                    of Warrant, dated February 16, 2006, issued by us to certain
                    Purchasers
                    (2)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.23</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Investor
                    Rights Agreement, dated February 16, 2006, between us and certain
                    Purchasers (2)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.24</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
                    and Warrant Purchase Agreement, dated October 24, 2006 between
                    us and
                    certain Secured Parties (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.25</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Security
                    Agreement, dated October 24, 2006, between us and certain Secured
                    Parties
                    (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.26</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                    of 7.5% Secured Convertible Promissory Note, dated October 24,
                    2006,
                    issued by us and to certain Purchasers
                    (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.27</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                    of Warrant, dated October 24, 2006, issued by us to certain Purchasers
                    (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.28</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Investor
                    Rights Agreement, dated October 24, 2006, between us and certain
                    Purchasers (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.29</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Note
                    and Warrant Purchase Agreement, dated December 6, 2006 between
                    us and
                    certain Secured Parties (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.30</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Security
                    Agreement, dated December 6, 2006, between us and certain Secured
                    Parties
                    (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.31</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                    of 7.5% Secured Convertible Promissory Note, dated December 6,
                    2006,
                    issued by us and to certain Purchasers
                    (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.32</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Form
                    of Warrant, December 6, 2006, issued by us to certain Purchasers
                    (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">10.33</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; COLOR: #000000; FONT-FAMILY: Times New Roman;">Investor
                    Rights Agreement, dated December 6, 2006, between us and certain
                    Purchasers (3)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.35</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">2007
                    Special Stock Option Plan and Agreement, dated January 4, 2007,
                    by and
                    between us and Stephen R. Seiler, President and Chief Executive
                    Officer
                    (4)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.36</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Employment
                    Agreement, dated January 4, 2007 by and between us and Stephen
                    R. Seiler,
                    President and Chief Executive Officer
                    (4)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.37</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                    to 7.0% (Subject to Adjustment) Convertible Promissory Notes
                    Due April 28,
                    2007, dated April 24, 2007 by and between us and Oracle Partners
                    LP and
                    affiliates (4)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.38</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                    to Amended and Restated 7.5% Secured Convertible Promissory Notes
                    Due
                    April 27, 2007, dated April 26, 2007 by and between us and SCO
                    Capital
                    Partners LLC, Beach Capital LLC and Lake End Capital LLC
                    (4)</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">10.39</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Amendment
                  To Investor Rights Agreements, dated April 30, 2007 by and between
                  us and
                  SCO Capital Partners LLC and Lake End Capital LLC
                  (4)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23.1</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consent
                  of Whitley Penn LLP</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23.2</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consent
                  of Grant Thornton LLP</font></div>
              </td>
            </tr>

        </table>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font size="3">23.3</font></font></td>
              <td align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consent
                of Stonefield Josephson Inc.</font></font></td>
            </tr>

        </table>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="left" style="WIDTH: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">23.4</font></td>
              <td align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Consent
                of Bingham McCutchen LLP&#160;</font></td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -126pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Exhib</font></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">*</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Management
                  contract or compensatory plan required to be filed as an Exhibit
                  to this
                  Form pursuant to Item 15(c) of the
                  report.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="right" style="WIDTH: 45pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Incorporated
                  by reference to our Form 10-K for the year ended December 31,
                  2005.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="right" style="WIDTH: 45pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Incorporated
                  by reference to our Form 10-Q for the quarter ended March 31,
                  2006.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="right" style="WIDTH: 45pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(3)&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Incorporated
                  by reference to our Form 10-K for the year ended December 31,
                  2006.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td align="right" style="WIDTH: 45pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(4)&#160;&#160;</font></td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Incorporated
                  by reference to our Form 10-Q for the quarter ended March 31,
                  2007.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt;">2</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
  </body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>2
<FILENAME>ex5d0.htm
<DESCRIPTION>BINGHAM MCCUTCHEN OPINION
<TEXT>
<html>

  <head>
    <title>Unassociated Document</title>
<!-- Licensed to: Access Pharmaceuticals, Inc.-->
<!-- Document Created using EDGARizer 3.9.9.131 -->
<!-- Copyright 2007 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</head>
  <body bgcolor="#ffffff">
    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">EXHIBIT
      5.0<br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">June
      7,
      2007</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Board
      of
      Directors</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Access
      Pharmaceuticals, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2600
      Stemmons Freeway, Suite 176</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Dallas,
      TX 75207</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Re:<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;
        <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Registration
        Statement on Form S-4</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">of
        Access
        Pharmacauticals, Inc. (file no. _______)</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Ladies
      and Gentlemen:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
      connection with the above-captioned Registration Statement on Form S-4 (the
      &#8220;Registration Statement&#8221;), filed by Access Pharmaceuticals, Inc., a Delaware
      corporation (the &#8220;Company&#8221;) with the Securities and Exchange Commission under
      the Securities Act of 1933 (the &#8220;Securities Act&#8221;), and the rules and regulations
      promulgated under the Securities Act, you have requested that we furnish our
      opinion as to the legality of the shares of the Company&#8217;s common stock, par
      value $0.01 per share (the &#8220;Common Stock&#8221;) being registered pursuant to the
      Registration Statement (the &#8220;Shares&#8221;). The Shares are being issued pursuant to
      the Agreement and Plan of Merger, dated as of April 18, 2007 (the &#8220;Merger
      Agreement&#8221;), among the Company, Somanta Acquisition Corporation (&#8220;Merger Sub&#8221;),
      Somanta Pharmaceuticals, Inc. (&#8220;Somanta&#8221;), Somanta Incorporated and Somanta
      Limited, providing for the merger of Merger Sub with and into Somanta (the
      &#8220;Merger&#8221;) and the exchange of common shares of Access for shares of Common Stock
      and Preferred Stock of Somanta pursuant to the Merger Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
      connection with the furnishing of this opinion, we reviewed the Registration
      Statement (including exhibits thereto), the Merger Agreement (including exhibits
      thereto), and records of certain corporate proceedings of the Company. We
      examined and relied upon representations as to factual matters contained in
      the
      Merger Agreement. We also made such other investigations of fact and law and
      examined and relied upon the originals, or copies certified or otherwise
      identified to our satisfaction, of such documents, records, certificates or
      other instruments, and upon such factual information otherwise supplied to
      us,
      as in our judgment are necessary or appropriate to render the opinion expressed
      below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
      our
      examination of the documents referred to above, we assumed, without independent
      investigation, the genuineness of all signatures, the authenticity of all
      documents submitted to us as originals and the conformity of original documents
      to all documents submitted to us as certified, photostatic, reproduced or
      conformed copies, the authenticity of all such latter documents and the legal
      capacity of all individuals who executed any of the documents. We also assumed
      that the Merger Agreement is a legal, valid and binding obligation of each
      party
      to it, enforceable against each such party in accordance with its
      terms.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
      furnishing this opinion, we further assumed that, before the issuance of the
      Shares (1)&#160;the Registration Statement will have become effective under the
      Securities Act, (2)&#160;the shares of Somanta common stock and preferred stock
      will be converted into the right to receive Common Stock in the Merger, and
      the
      shares to be exchanged for Common Stock in the Arrangement, were legally issued,
      fully paid and non-assessable under applicable law and (3)&#160;the other
      conditions to consummating the transactions contemplated by the Merger Agreement
      will have been satisfied.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Based
      upon the foregoing, we are of the opinion that, when issued in accordance with
      the Merger Agreement, the Common Stock will be duly authorized, validly issued,
      fully paid and nonassessable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
      opinion is limited solely to the Delaware General Corporation Law, as applied
      by
      courts located in Delaware, the applicable provisions of the Delaware
      Constitution and the reported judicial decisions interpreting those
      laws.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">We
      hereby
      consent to the use of this opinion as an exhibit to the Registration Statement
      and to the use of our name under the heading &#8220;Legal Matters&#8221; contained in the
      Prospectus included in the Registration Statement. In giving this consent,
      we do
      not thereby admit that we come within the category of persons whose consent
      is
      required by the Act or the Rules.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="L
ETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>Very
      truly
      yours,</font></div>
    <div>&#160;</div>
    <div>
      <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style=
"LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;/s/
        Bingham McCutchen
        LLP</font></div>
    </div>
    <div>&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div><br></body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>ex23d1.htm
<DESCRIPTION>WHITLEY PENN CONSENT
<TEXT>
<html>

  <head>
    <title>Unassociated Document</title>
<!-- Licensed to: Access Pharmaceuticals, Inc.-->
<!-- Document Created using EDGARizer 3.9.9.131 -->
<!-- Copyright 2007 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</head>
  <body bgcolor="#ffffff"><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">EXHIBIT
      23.1</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">CONSENT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">We
      consent to the inclusion in this Registration Statement on Form S-4, of our
      report dated March 30, 2007, with respect to our audit of the consolidated
      balance sheet of Access Pharmaceuticals, Inc. and Subsidiaries, as of December
      31, 2006, and the related consolidated statements of operations, changes in
      stockholders' deficit, and cash flows for the year then ended, which report
      appears in the Prospectus, and is part of this Registration Statement. We also
      consent to the reference to our firm under the heading "Experts" in such
      Prospectus.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">/s/Whitley
      Penn LLP</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Dallas,
      Texas</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">June
      6,
      2007</font></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div><br></body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>ex23d2.htm
<DESCRIPTION>GRANT THORNTON CONSENT
<TEXT>
<html>

  <head>
    <title>Unassociated Document</title>
<!-- Licensed to: Access Pharmaceuticals, Inc.-->
<!-- Document Created using EDGARizer 3.9.9.131 -->
<!-- Copyright 2007 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</head>
  <body bgcolor="#ffffff"><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">EXHIBIT
      23.2</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">CONSENT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">We
      consent to the inclusion in this Registration Statement on Form S-4, of our
      report dated April 25, 2006, with respect to our audit of the consolidated
      balance sheet of Access Pharmaceuticals, Inc. and Subsidiaries, as of December
      31, 2005, and the related consolidated statements of operations and
      comprehensive loss, stockholders' equity (deficit), and cash flows for each
      of
      the two years then ended, which report appears in the Registration Statement.
      We
      also consent to the reference to our firm under the captions&#160;"Experts" in
      such Registration Statement.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">/s/
      Grant
      Thornton LLP</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Dallas,
      Texas</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">June
      7,
      2007</font></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br></body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.3
<SEQUENCE>5
<FILENAME>ex23d3.htm
<DESCRIPTION>STONEFIELD JOSEPHSON CONSENT
<TEXT>
<html>

  <head>
    <title>Unassociated Document</title>
<!-- Licensed to: Access Pharmaceuticals, Inc.-->
<!-- Document Created using EDGARizer 3.9.9.131 -->
<!-- Copyright 2007 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</head>
  <body bgcolor="#ffffff"><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">EXHIBIT
      23.3</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">CONSENT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">We
      consent to the inclusion in this Registration Statement on Form S-4, of our
      report dated June 16, 2006, with respect to our audit of the consolidated
      balance sheet of Somanta Pharmaceuticals, Inc. and Subsidiaries, as of April
      30,
      2006, and the related consolidated statements of operations, changes in
      stockholders' deficit, and cash flows for the year then ended, which report
      appears in the Prospectus, and is part of this Registration Statement. We also
      consent to the reference to our firm under the heading "Experts" in such
      Prospectus.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">/s/
      Stonefield Josephson Inc.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Irvine,
      California</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">June
      6,
      2007</font></div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div><br></body>
</html>


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