-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HoepZ7f6oxR1lpKXSlulLpO21MzHfIUQ/7styPN5+3CIv69EmqLTl644FqYII4SY
 S5e4GHUoE5+gV5PlCQMNJg==

<SEC-DOCUMENT>0001140361-07-011930.txt : 20070607
<SEC-HEADER>0001140361-07-011930.hdr.sgml : 20070607
<ACCEPTANCE-DATETIME>20070607135724
ACCESSION NUMBER:		0001140361-07-011930
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20070607
DATE AS OF CHANGE:		20070607

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RICKS CABARET INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000935419
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		IRS NUMBER:				760037324
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-143087
		FILM NUMBER:		07906326

	BUSINESS ADDRESS:	
		STREET 1:		10959 CUTTEN ROAD
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77066
		BUSINESS PHONE:		2813976730

	MAIL ADDRESS:	
		STREET 1:		10959 CUTTEN ROAD
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77066
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>form424b3.htm
<DESCRIPTION>RICK'S CABARET INTERNATIONAL, INC. 424B3 6-5-2007
<TEXT>
<html>

  <head>
    <title>form424b3.htm</title>
<!-- Licensed to: EDGARfilings, Ltd.-->
<!-- Document Created using EDGARizer 4.0.1.0 -->
<!-- Copyright 2007 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</head>
  <body bgcolor="#ffffff">
    <div>
      <div>
        <hr style="COLOR: black" align="left" noshade size="4" width="100%">
      </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;">Filed
        Pursuant to Rule 424(b)(3)</font></div>
      <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;">Registration
        No. 333-143087</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><img src="logo.jpg" alt=""></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;"><strong>PROSPECTUS</strong></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;"><strong>RICK&#8217;S
        CABARET INTERNATIONAL, INC.</strong></font></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;">690,806
        SHARES OF COMMON STOCK</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    </div>
    <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; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
          prospectus relates to the offering for resale of up to 690,806 shares of
          our
          common stock, $0.01 par value (&#8220;Common Stock&#8221;) currently held by certain selling
          stockholders. For a list of the selling stockholders, please see "Selling
          Stockholders." &#160;We are not selling any shares of our Common Stock in this
          offering and therefore will not receive any proceeds from the sale thereof.
          &#160;We will bear all expenses, other than selling commissions and fees of the
          selling stockholders, in connection with the registration and sale of the
          shares
          being offered by this prospectus.</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;">These
          shares may be sold by the selling stockholders from time to time in the
          over-the-counter market or other national securities exchange or automated
          interdealer quotation system on which our Common Stock is then listed or
          quoted,
          through negotiated transactions or otherwise at market prices prevailing
          at the
          time of sale or at negotiated prices.</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;">Our
          common stock is quoted on the NASDAQ Small Cap Market under the symbol
          "RICK."&#160;&#160;On May 7, 2007, the last reported sales price of our Common
          Stock was $8.84 per share.</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;"><strong>INVESTING
          IN OUR COMMON STOCK INVOLVES A HIGH DEGREE OF RISKS.&#160;&#160;PLEASE REFER TO
          THE "RISK FACTORS" BEGINNING ON PAGE 3.</strong></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;"><strong>NEITHER
          THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION
          HAS
          APPROVED OR DISAPPROVED OF THESE SECURITIES, OR DETERMINED IF THIS PROSPECTUS
          IS
          TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
          OFFENSE.</strong></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;">THE
          DATE
          OF THIS PROSPECTUS IS JUNE 5, 2007.</font></div>
      </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="center">
          </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="left">
          </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: 10pt; FONT-FAMILY: Times New Roman;"><u><a name="toc">TAB</a>LE
        OF CONTENTS</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"><br></div>
      <div align="left">
        <div align="left">
          <div align="left">
            <table cellpadding="0" cellspacing="0" width="100%">

                <tr bgcolor="#cceeff">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#prospe">PROSPECTUS
                      SUMMARY</a></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: 10pt; FONT-FAMILY: times new roman;">1</font></div>
                  </td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#caution">CAUTIONARY
                      STATEMENT CONCERNING FORWARD LOOKING
                      STATEMENTS</a></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: 10pt; FONT-FAMILY: times new roman;">2</font></div>
                  </td>
                </tr>
                <tr bgcolor="#cceeff">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#risk">RISK
                      FACTORS</a></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: 10pt; FONT-FAMILY: times new roman;">3</font></div>
                  </td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#useof">USE
                      OF PROCEEDS</a></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: 10pt; FONT-FAMILY: times new roman;">8</font></div>
                  </td>
                </tr>
                <tr bgcolor="#cceeff">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#selling">SELLING
                      SECURITY HOLDERS</a></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: 10pt; FONT-FAMILY: times new roman;">8</font></div>
                  </td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#plan">PLAN
                      OF DISTRIBUTION</a></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: 10pt; FONT-FAMILY: times new roman;">10</font></div>
                  </td>
                </tr>
                <tr bgcolor="#cceeff">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#des">DESCRIPTION
                      OF SECURITIES TO BE REGISTERED</a></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: 10pt; FONT-FAMILY: times new roman;">12</font></div>
                  </td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#expert">EXPERTS</a></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: 10pt; FONT-FAMILY: times new roman;">12</font></div>
                  </td>
                </tr>
                <tr bgcolor="#cceeff">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#legal">LEGAL
                      MATTERS</a></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: 10pt; FONT-FAMILY: times new roman;">13</font></div>
                  </td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#material">MATERIAL
                      CHANGES</a></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: 10pt; FONT-FAMILY: times new roman;">13</font></div>
                  </td>
                </tr>
                <tr bgcolor="#cceeff">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#incorpora">INCORPORATION
                      OF CERTAIN INFORMATION BY
                      REFERENCE</a></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: 10pt; FONT-FAMILY: times new roman;">13</font></div>
                  </td>
                </tr>
                <tr bgcolor="white">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#commison">COMMISSION
                      POSITION OF INDEMNIFICATION FOR SECURITIES ACT
                      LIABILITIES</a></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: 10pt; FONT-FAMILY: times new roman;">13</font></div>
                  </td>
                </tr>
                <tr bgcolor="#cceeff">
                  <td align="left" valign="top" width="93%">
                    <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: 10pt; FONT-FAMILY: times new roman;"><a href="#where">WHERE
                      YOU CAN FIND MORE INFORMATION</a></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: 10pt; FONT-FAMILY: times new roman;">14</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </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="center">
          </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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></strong></font></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: 10pt; FONT-FAMILY: Times New Roman;"><strong><a name="prospe">PRO</a>SPECTUS
        SUMMARY</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: 10pt; FONT-FAMILY: Times New Roman;"><em>The
        following summary highlights selected information contained in this prospectus.
        This summary does not contain all of the information you should consider
        before
        investing in the securities. Before making an investment decision, you should
        read the entire prospectus carefully, including the risk factors section,
        the
        financial statements and the notes to the financial statements. You should
        also
        review the other available information referred to in the section entitled
        &#8220;&#8221;Where you can find more information&#8221; on page 14 in this prospectus and any
        amendment or supplement hereto. Unless otherwise indicated, the terms the
        &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; refer and relate to Rick&#8217;s Cabaret
        International, Inc. and its consolidated subsidiaries.</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: 10pt; FONT-FAMILY: Times New Roman;"><strong>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: 10pt; FONT-FAMILY: Times New Roman;">We
        presently conduct our business in two different areas of operation:
</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: 10pt; FONT-FAMILY: Times New Roman;">We
        own
        and operate upscale adult nightclubs serving primarily businessmen and
        professionals. Our nightclubs offer live adult entertainment, restaurant
        and bar
        operations. We own and operate ten adult nightclubs under the name "Rick's
        Cabaret" and "XTC" in Houston, Austin, San Antonio, and Fort Worth, Texas;
        Minneapolis, Minnesota; and New York, New York. We also operate four upscale
        venues that cater especially to urban professionals, businessmen and
        professional athletes called &#8220;Club Onyx&#8221; in Houston, San Antonio, Texas and
        Charlotte, North Carolina. No sexual contact is permitted at any of our
        locations. </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: 10pt; FONT-FAMILY: Times New Roman;">We
        have
        Internet activities including two adult Internet membership websites at
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>www.couplestouch.com</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">
        and
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>www.xxxpassword.com</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">.
        We
        acquire </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>www.xxxpassword.com</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">
        site
        content from wholesalers. We also operate an online auction site </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>www.naughtybids.com</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">.
        This
        site provides our customers with the opportunity to purchase adult products
        and
        services in an auction format. We earn revenues by charging fees for each
        transaction conducted on the automated site.</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: 10pt; FONT-FAMILY: Times New Roman;">Our
        nightclub revenues are derived from the sale of liquor, beer, wine, food,
        merchandise, cover charges, membership fees, independent contractors' fees,
        commissions from vending and ATM machines, valet parking, and other products
        and
        services. Our internet revenues are derived from subscriptions to adult content
        internet websites, traffic/referral revenues, and commissions earned on the
        sale
        of products and services through Internet auction sites, and other activities.
        Our fiscal year end is September 30.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-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>The
        Offering</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 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: 135pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Outstanding
                  Common Stock</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">6,123,842</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">
                  shares (as of May 7, 2007).</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#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: 135pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Common
                  Stock Offered</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Up
                  to 690,806 shares of Common Stock held by certain selling
                  stockholders.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#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: 135pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Offering
                  Price</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Determined
                  at the time of sale by the selling
                  stockholders.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: -144pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></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: 135pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Proceeds</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">We
                  are not selling any shares of our Common Stock in this offering
                  and
                  therefore will not receive any proceeds from the sale thereof.
                  The selling
                  shareholders will pay any underwriting discounts and commissions
                  and
                  expenses incurred by the selling shareholders for brokerage, accounting,
                  tax or legal services or any other expenses incurred by the selling
                  shareholders in disposing of the shares. We will bear all other
                  costs,
                  fees and expenses incurred in effecting the registration of the
                  shares
                  covered by this prospectus, including, without limitation, all
                  registration and filing fees, Nasdaq Small Cap Market listing fees,
                  blue
                  sky registration and filing fees, and fees and expenses of our
                  counsel and
                  our accountants.</font></div>
              </td>
            </tr>

        </table>
      </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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></strong></font></div>
        </div>
      </div><br>
      <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: 135pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Risk
                  Factors</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                  securities offered hereby involve a high degree of risk. See &#8220;Risk
                  Factors&#8221; herein.</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: 10pt; FONT-FAMILY: Times New Roman;"><strong><a name="caution">CAUT</a>IONARY
        STATEMENT CONCERNING</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>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"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">We
        are
        including the following cautionary statement in this Form S-3 to make applicable
        and take advantage of the safe harbor provision of the Private Securities
        Litigation Reform Act of 1995 for any forward-looking statements made by
        us or
        on behalf of us. Forward-looking statements include statements concerning
        plans,
        objectives, goals, strategies, future events or performance and underlying
        assumptions and other statements, which are other than statements of historical
        facts. Certain statements in this Form S-3 are forward-looking statements.
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">These
        statements are subject to risks and uncertainties and are based on the beliefs
        and assumptions of management and information currently available to management.
        The use of words such as "believes," "expects," "anticipates," "intends,"
        "plans," "estimates," "should," "likely" or similar expressions, indicates
        a
        forward-looking statement. S</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">uch
        statements are subject to risks and uncertainties that could cause actual
        results to differ materially from those projected. Such risks and uncertainties
        are set forth below. Our expectations, beliefs and projections are expressed
        in
        good faith and we believe that they have a reasonable basis, including without
        limitation, our examination of historical operating trends, data contained
        in
        our records and other data available from third parties. There can be no
        assurance that our expectations, beliefs or projections will result, be
        achieved, or be accomplished. In addition to other factors and matters discussed
        elsewhere in this Form S-3, the following are important factors that in our
        view
        could cause material adverse affects on our financial condition and results
        of
        operations: the risks and uncertainties related to our future operational
        and
        financial results, the risks and uncertainties relating to our Internet
        operations, competitive factors, the timing of the openings of other clubs,
        the
        availability of acceptable financing to fund corporate expansion efforts,
        our
        dependence on key personnel, the ability to manage operations and the future
        operational strength of management, and the laws governing the operation
        of
        adult entertainment businesses. </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: 10pt; FONT-FAMILY: Times New Roman;">For
        a
        discussion of some additional factors that may cause actual results to differ
        materially from those suggested by the forward-looking statements, please
        read
        carefully the information under "Risk Factors" beginning on page 3. The
        identification in this document of factors that may affect future performance
        and the accuracy of forward-looking statements is meant to be illustrative
        and
        by no means exhaustive. All forward-looking statements should be evaluated
        with
        the understanding of their inherent uncertainty.</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: 10pt; FONT-FAMILY: Times New Roman;">We
        operate in a very competitive and rapidly changing environment. New risks
        emerge
        from time to time and it is not possible for our management to predict all
        risks, nor can we assess the impact of all risks on our business or the extent
        to which any risk, or combination of risks, may cause actual results to differ
        from those contained in any forward-looking statements. All forward-looking
        statements included in this prospectus are based on information available
        to us
        on the date of the prospectus. Except to the extent required by applicable
        laws
        or rules, we undertake no obligation to publicly update or revise any
        forward-looking statement, whether as a result of new information, future
        events
        or otherwise. All subsequent written and oral forward-looking statements
        attributable to us or persons acting on our behalf are expressly qualified
        in
        their entirety by the cautionary statements contained throughout 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: 10pt; FONT-FAMILY: Times New Roman;">You
        may
        rely only on the information contained in this prospectus. We have not
        authorized anyone to provide information different from that contained in
        this
        prospectus. Neither the delivery of this prospectus nor the sale of Common
        Stock
        means that information contained in this prospectus is correct after the
        date of
        this prospectus. This prospectus is not an offer to sell or solicitation
        of an
        offer to buy these securities in any circumstances under which the offer
        or
        solicitation is unlawful.</font></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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></strong></font></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: 10pt; FONT-FAMILY: Times New Roman;"><strong><a name="risk">RISK
        FACTORS</a></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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">An
        investment in our Common Stock involves a high degree of risk. You should
        carefully consider the risks described below before deciding to purchase
        shares
        of our Common Stock. If any of the events, contingencies, circumstances or
        conditions described in the risks below actually occurs, our business, financial
        condition or results of operations could be seriously harmed. The trading
        price
        of our Common Stock could, in turn, decline and you could lose all or part
        of
        your investment.</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: 10pt; FONT-FAMILY: Times New Roman;"><strong>Risks
        Related to the Company and the Offering</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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Our
        business operations are subject to regulatory uncertainties which may affect
        our
        ability to continue operations of existing nightclubs, acquire additional
        nightclubs or be profitable.</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: 10pt; FONT-FAMILY: Times New Roman;">Adult
        entertainment nightclubs are subject to local, state and federal regulations.
        Our business is regulated by local zoning, local and state liquor licensing,
        local ordinances and state and federal time place and manner restrictions.
        The
        adult entertainment provided by our nightclubs has elements of speech and
        expression and, therefore, enjoys some protection under the First Amendment
        to
        the United States Constitution. However, the protection is limited to the
        expression, and not the conduct of an entertainer. While our nightclubs are
        generally well established in their respective markets, there can be no
        assurance that local, state and/or federal licensing and other regulations
        will
        permit our nightclubs to remain in operation or profitable 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: 10pt; FONT-FAMILY: Times New Roman;">Our
        operations in Houston are subject to a Sexually Oriented Business Ordinance
        originally enacted by the City of Houston in 1997. The Ordinance established
        new
        minimum distances that sexually oriented businesses may be located from schools,
        churches, playgrounds and other sexually oriented businesses. The Ordinance
        further provided for an amortization period in which locations could continue
        to
        operate for a period of time to enable the business to recoup its investment
        through the approval date of the Ordinance. In May 1997, the City of Houston
        agreed to defer implementation of the Ordinance until the constitutionality
        of
        the entire Ordinance was decided by a trial court. The Trial Court rendered
        its
        judgment in favor of the City of Houston on January 31, 2007 and found the
        1997
        Ordinance constitutional and enforceable. An appeal to the Fifth Circuit
        Court
        of Appeals has been timely filed. Additionally, we have filed state court
        lawsuits on behalf of three of our club locations in Houston seeking judicial
        review of the results of the amortization process contained within the
        Ordinance. The final order by the Trial Court resulted in the termination
        of the
        abatement and allowed the amortization process to continue as provided in
        the
        Ordinance. The new lawsuits seeking review of the determination made by the
        amortization hearing officials in 1998 stops any enforcement action by the
        City
        of Houston for at least 60 days and it is anticipated that further injunctive
        relief will be sought in the state court cases should it become necessary.
        In
        the event all efforts to stop enforcement activity fail and the City of Houston
        elects to enforce the judgment, we, as well as every other similarly situated
        sexually oriented business located within the incorporated area of Houston,
        Texas, will have to either cease providing nude or semi-nude entertainment,
        or
        develop alternate methods of operating. In such event, we presently intend
        to
        clothe our entertainers in a manner to eliminate the need for licenses and
        to
        take such steps as to not be subject to Ordinance compliance. Approximately
        24.5% of our club operation&#8217;s revenues for the six months ended March 31, 2007,
        were in Houston, Texas. The ruling could have a material adverse impact on
        our
        operations, but </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">it
        is
        unknown at this time. </font></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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>We
        may need additional financing or our business expansion plans may be
        significantly limited.</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: 10pt; FONT-FAMILY: Times New Roman;">If
        cash
        generated from our operations is insufficient to satisfy our working capital
        and
        capital expenditure requirements, we will need to raise additional funds
        through
        the public or private sale of our equity or debt securities. The timing and
        amount of our capital requirements will depend on a number of factors, including
        cash flow and cash requirements for nightclub acquisitions. If additional
        funds
        are raised through the issuance of equity or convertible debt securities,
        the
        percentage ownership of our then-existing shareholders will be reduced. We
        cannot assure you that additional financing will be available on terms favorable
        to us, if at all. Any future equity financing, if available, may result in
        dilution to existing shareholders, and debt financing, if available, may
        include
        restrictive covenants. Any failure by us to procure timely additional financing
        will have material adverse consequences on our 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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>There
        is substantial competition in the nightclub entertainment industry which
        may
        affect our ability to operate profitably or acquire additional
        clubs.</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: 10pt; FONT-FAMILY: Times New Roman;">Our
        nightclubs face competition. Some of these competitors may have greater
        financial and management resources than us. Additionally, the industry is
        subject to unpredictable competitive trends and competition for general
        entertainment dollars. There can be no assurance that we will be able to
        remain
        profitable in this competitive industry.</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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>We
        intend to engage in acquisitions as part of our growth strategy, which will
        consume resources and may be unsuccessful or
        unprofitable.</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: 10pt; FONT-FAMILY: Times New Roman;">We
        intend
        to pursue a strategy of acquiring adult nightclubs that fit within our business
        model. However, acquisitions are not always successful or profitable. Any
        future
        acquisitions could expose us to risks, including risks associated with
        assimilating new operations and personnel; diversion of resources from our
        existing operations; inability to generate revenues sufficient to offset
        associated acquisition costs; and the maintenance of uniform standards,
        controls, procedures and policies. As we continue to grow our operations,
        it may
        place a strain on our management and our resources. Acquisitions may also
        result
        in additional expenses from amortizing and/or impairing acquired intangible
        assets. If we attempt an acquisition and are unsuccessful in its completion,
        we
        will likely incur significant expenses without any benefit to us. If we are
        successful in completing an acquisition, the risks and other issues we face
        may
        ultimately make the acquisition unprofitable. Failed acquisition transactions
        and underperforming completed acquisitions would burden us with significant
        costs without any corresponding benefits to us, which could cause our stock
        price to decrease.</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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Risk
        of Adult Nightclub Operations</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: 10pt; FONT-FAMILY: Times New Roman;">Historically,
        the adult entertainment, restaurant and bar industry has been a significantly
        regulated industry. The industry tends to be extremely sensitive to the general
        local economy, in that when economic conditions are prosperous, entertainment
        industry revenues increase, and when economic conditions are unfavorable,
        entertainment industry revenues decline. Coupled with this economic sensitivity
        are the trendy personal preferences of the customers who frequent adult
        cabarets. We continuously monitor trends in our customers' tastes and
        entertainment preferences so that, if necessary, we can make appropriate
        changes
        which will allow us to remain one of the premiere adult cabarets. However,
        any
        significant decline in general corporate conditions or uncertainties regarding
        future economic prospects that affect consumer spending could have a material
        adverse effect on our business. In addition, we have historically catered
        to a
        clientele base from the upper end of the market. Accordingly, further reductions
        in the amounts of entertainment expenses allowed as deductions from income
        under
        the Internal Revenue Code of 1954, as amended, could adversely affect sales
        to
        customers dependent upon corporate expense accounts. </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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Permits
        Relating to the Sale of Alcohol</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: 10pt; FONT-FAMILY: Times New Roman;">We
        derive
        a significant portion of our revenues from the sale of alcoholic beverages.
        In
        Texas, the authority to issue a permit to sell alcoholic beverages is governed
        by the Texas Alcoholic Beverage Commission (the "TABC"), which has the
        authority, in its discretion, to issue the appropriate permits. Rick's presently
        holds a Mixed Beverage Permit and a Late Hours Permit (the "Permits"). These
        Permits are subject to annual renewal, provided we have complied with all
        rules
        and regulations governing the permits. Renewal of a permit is subject to
        protest, which may be made by a law enforcement agency or by a member of
        the
        general public. In the event of a protest, the TABC may hold a hearing at
        which
        time the views of interested parties are expressed. The TABC has the authority
        after such hearing not to issue a renewal of the protested alcoholic beverage
        permit. While we have never been subject to a protest hearing against the
        renewal of our Permits, there can be no assurance that such a protest could
        not
        be made in the future, nor can there be any assurance that the Permits would
        be
        granted in the event such a protest was made. Other states in which we operate
        have similar laws which may limit the availability of a permit to sell alcoholic
        beverages or which may provide for suspension or revocation of a permit to
        sell
        alcoholic beverages in certain circumstances. The temporary or permanent
        suspension or revocations of either of the Permits or the inability to obtain
        permits in areas of expansion would have a material adverse effect on the
        revenues, financial condition and results of operations of the Company.
</font></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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>We
        must continue to meet the Nasdaq Small Cap Market continued listing requirements
        or we risk delisting.</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: 10pt; FONT-FAMILY: Times New Roman;">Our
        securities are currently listed for trading on the Nasdaq Small Cap Market.
        We
        must continue to satisfy Nasdaq&#8217;s continued listing requirements or risk
        delisting which would have an adverse effect on our business. If our securities
        are ever de-listed from the Nasdaq, it may trade on the over-the-counter
        market,
        which may be a less liquid market. In such case, our shareholders&#8217; ability to
        trade or obtain quotations of the market value of shares of our common stock
        would be severely limited because of lower trading volumes and transaction
        delays. These factors could contribute to lower prices and larger spreads
        in the
        bid and ask prices for our securities. There is no assurance that we will
        be
        able to maintain compliance with the Nasdaq continued listing
        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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>In
        the future, we will incur significant increased costs as a result of operating
        as a public company, and our management will be required to devote substantial
        time to new compliance initiatives.</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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
        the
        future, we will incur significant legal, accounting and other expenses. The
        Sarbanes-Oxley Act of 2002 (the &#8220;Sarbanes-Oxley Act&#8221;), as well as new rules
        subsequently implemented by the Securities and Exchange Commission (&#8220;SEC&#8221;), have
        imposed various new requirements on public companies, including requiring
        changes in corporate governance practices. Our management and other personnel
        will need to devote a substantial amount of time to these new compliance
        initiatives. Moreover, these rules and regulations will increase our legal
        and
        financial compliance costs and will make some activities more time-consuming
        and
        costly. For example, we expect these new rules and regulations to make it
        more
        difficult and more expensive for us to obtain director and officer liability
        insurance, and we may be required to incur substantial costs to maintain
        the
        same or similar coverage.</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: 10pt; FONT-FAMILY: Times New Roman;">In
        addition, the Sarbanes-Oxley Act requires, among other things, that we maintain
        effective internal controls for financial reporting and disclosure controls
        and
        procedures. In particular, commencing in fiscal 2008, we must perform system
        and
        process evaluation and testing on the effectiveness of our internal controls
        over financial reporting, as required by Section&#160;404 of the Sarbanes-Oxley
        Act. Subsequently in fiscal 2009, our independent registered public accounting
        firm will report on the effectiveness of our internal controls over financial
        reporting, as required by Section&#160;404 of the Sarbanes-Oxley Act. Our
        testing, or the subsequent testing by our independent registered public
        accounting firm, may reveal deficiencies in our internal controls over financial
        reporting that are deemed to be material weaknesses. Our compliance with
        Section&#160;404 will require that we incur substantial accounting expense and
        expend significant management efforts. We currently do not have an internal
        audit group, and we will need to hire additional accounting and financial
        staff
        with appropriate public company experience and technical accounting knowledge.
        Moreover, if we are not able to comply with the requirements of Section&#160;404
        in a timely manner, or if we or our independent registered public accounting
        firm identifies deficiencies in our internal controls over financial reporting
        that are deemed to be material weaknesses, the market price of our stock
        could
        decline, and we </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">could
        be
        subject to sanctions or investigations by the SEC or other regulatory
        authorities, which would require additional financial and management
        resources.</font></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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Uninsured
        Risks</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: 10pt; FONT-FAMILY: Times New Roman;">We
        maintain insurance in amounts we considers adequate for personal injury and
        property damage to which the business of the Company may be subject. However,
        there can be no assurance that uninsured liabilities in excess of the coverage
        provided by insurance, which liabilities may be imposed pursuant to the Texas
        "Dram Shop" statute or similar "Dram Shop" statutes or common law theories
        of
        liability in other states where we operate or expand. The Texas "Dram Shop"
        statute provides a person injured by an intoxicated person the right to recover
        damages from an establishment that wrongfully served alcoholic beverages
        to such
        person if it was apparent to the server that the individual being sold, served
        or provided with an alcoholic beverage was obviously intoxicated to the extent
        that he presented a clear danger to himself and others. An employer is not
        liable for the actions of its employee who overserves if (i)&#160;the employer
        requires its employees to attend a seller training program approved by the
        TABC;
        (ii)&#160;the employee has actually attended such a training program; and
        (iii)&#160;the employer has not directly or indirectly encouraged the employee
        to violate the law. It is our policy to require that all servers of alcohol
        working at our clubs be certified as servers under a training program approved
        by the TABC, which certification gives statutory immunity to the sellers
        of
        alcohol from damage caused to third parties by those who have consumed alcoholic
        beverages at such establishment pursuant to the Texas Alcoholic Beverage
        Code.
        There can be no assurance, however, that uninsured liabilities may not arise
        which could have a material adverse effect on the Company.</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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Limitations
        on Protection of Service Marks</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: 10pt; FONT-FAMILY: Times New Roman;">Our
        rights to the tradenames "Rick's" and "Rick's Cabaret" are established under
        the
        common law based upon our substantial and continuous use of these trademarks
        in
        interstate commerce since at least as early as 1987. "RICK'S AND STARS DESIGN"
        and "RICK'S CABARET" logos have been registered through service mark
        registrations issued by the United States Patent and Trademark Office ("PTO").
        There can be no assurance that these steps taken by the Company to protect
        its
        Service Marks will be adequate to deter misappropriation of its protected
        intellectual property rights. Litigation may be necessary in the future to
        protect our rights from infringement, which may be costly and time consuming.
        The loss of the intellectual property rights owned or claimed by us could
        have a
        material adverse affect on our business.</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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Anti-takeover
        Effects of Issuance of Preferred Stock</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: 10pt; FONT-FAMILY: Times New Roman;">The
        Board
        of Directors has the authority to issue up to 1,000,000 shares of Preferred
        Stock in one or more series, to fix the number of shares constituting any
        such
        series, and to fix the rights and preferences of the shares constituting
        any
        series, without any further vote or action by the stockholders. The issuance
        of
        Preferred Stock by the Board of Directors could adversely affect the rights
        of
        the holders of Common Stock. For example, such issuance could result in a
        class
        of securities outstanding that would have preferences with respect to voting
        rights and dividends and in liquidation over the Common Stock, and could
        (upon
        conversion or otherwise) enjoy all of the rights appurtenant to Common Stock.
        The Board's authority to issue Preferred Stock could discourage potential
        takeover attempts and could delay or prevent a change in control of the Company
        through merger, tender offer, proxy contest or otherwise by making such attempts
        more difficult to achieve or more costly. There are no issued and outstanding
        shares of Preferred Stock; there are no agreements or understandings for
        the
        issuance of Preferred Stock, and the Board of Directors has no present intention
        to issue Preferred 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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>We
        do not anticipate paying dividends on common shares in the foreseeable
        future.</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: 10pt; FONT-FAMILY: Times New Roman;">Since
        our
        inception we have not paid any dividends on our common stock and we do not
        anticipate paying any dividends in the foreseeable future. We expect that
        future
        earnings, if any, will be used for working capital and to finance
        growth.</font></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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Future
        sales of our common stock may depress our stock
        price.</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: 10pt; FONT-FAMILY: Times New Roman;">The
        market price of our common stock could decline as a result of sales of
        substantial amounts of our common stock in the public market, or as a result
        of
        the perception that these sales could occur. In addition, these factors could
        make it more difficult for us to raise funds through future offerings of
        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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>There
        is a limited public trading market for our 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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Our
        stock
        is currently traded on the Nasdaq Small Cap Market under the trading symbol
        &#8220;RICK&#8221;. There is a limited public trading market for our common stock. Without
        an active trading market, there can be no assurance of any liquidity or resale
        value of our common stock, and stockholders may be required to hold shares
        of
        our common stock for an indefinite 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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Our
        stock price has been volatile and may fluctuate in the
        future.</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: 10pt; FONT-FAMILY: Times New Roman;">The
        trading price of our securities may fluctuate significantly. This price may
        be
        influenced 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>
        <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: 18pt">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="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;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">our
                  performance and prospects;</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 style="WIDTH: 18pt">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="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;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">the
                  depth and liquidity of the market for our
                  securities;</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 style="WIDTH: 18pt">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="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;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">investor
                  perception of us and the industry in which we
                  operate;</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 style="WIDTH: 18pt">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="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;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">changes
                  in earnings estimates or buy/sell recommendations by
                  analysts;</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 style="WIDTH: 18pt">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="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;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">general
                  financial and other market conditions;
                  and</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 style="WIDTH: 18pt">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="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;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">domestic
                  economic conditions.</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: 10pt; FONT-FAMILY: Times New Roman;">Public
        stock markets have experienced, and may experience, extreme price and trading
        volume volatility. These broad market fluctuations may adversely affect the
        market price of our securities.&#160;</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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Our
        management controls a significant percentage of our current outstanding common
        stock and their interests may conflict with those of our shareholders.
</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: 10pt; FONT-FAMILY: Times New Roman;">As
        of May
        7, 2007, our Directors and executive officers and their respective affiliates
        collectively and beneficially owned approximately 22% of our outstanding
        common
        stock, including all warrants exercisable within 60 days. This concentration
        of
        voting control gives our Directors and executive officers and their respective
        affiliates substantial influence over any matters which require a shareholder
        vote, including, without limitation, the election of Directors, even if their
        interests may conflict with those of other shareholders. It could also have
        the
        effect of delaying or preventing a change in control of or otherwise
        discouraging a potential acquirer from attempting to obtain control of us.
        This
        could have a material adverse effect on the market price of our common stock
        or
        prevent our shareholders from realizing a premium over the then prevailing
        market prices for their shares of 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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>We
        are dependent on key personnel</em></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>.
        </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: 10pt; FONT-FAMILY: Times New Roman;">Our
        future success is dependent, in a large part, on retaining the services of
        Mr.
        Eric Langan, our President and Chief Executive Officer. Mr. Langan possesses
        a
        unique and comprehensive knowledge of our industry. While Mr. Langan has
        no
        present plans to leave or retire, his loss could have a negative effect on
        our
        operating, marketing and financial performance if we are unable to find an
        adequate replacement with similar knowledge and experience within our industry.
        We maintain key-man life insurance with respect to Mr. Langan. Although Mr.
        Langan is under a two-year employment agreement ending in April 2008, there
        can
        be no assurance that Mr. Langan will continue to be employed by us. The loss
        of
        Mr. Langan could have a negative effect on our operating, marketing, and
        financing performance.</font></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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Cumulative
        voting is not available to stockholders.</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: 10pt; FONT-FAMILY: Times New Roman;">Cumulative
        voting in the election of Directors is expressly denied in our Articles of
        Incorporation. Accordingly, the holder or holders of a majority of the
        outstanding shares of our common stock may elect all of our Directors.
        Management&#8217;s large percentage ownership of our outstanding common stock helps
        enable them to maintain their positions as such and thus control of our business
        and affairs. </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: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Our
        Directors and Officers have limited liability and have rights to
        indemnification.</em></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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Our
        Articles of Incorporation and Bylaws provide, as permitted by governing Texas
        law, that our Directors and officers shall not be personally liable to us
        or any
        of our stockholders for monetary damages for breach of fiduciary duty as
        a
        Director or officer, with certain exceptions. The Articles further provide
        that
        we will indemnify our Directors and officers against expenses and liabilities
        they incur to defend, settle, or satisfy any civil litigation or criminal
        action
        brought against them on account of their being or having been its Directors
        or
        officers unless, in such action, they are adjudged to have acted with gross
        negligence or willful misconduct.</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: 10pt; FONT-FAMILY: Times New Roman;">The
        inclusion of these provisions in the Articles may have the effect of reducing
        the likelihood of derivative litigation against Directors and officers, and
        may
        discourage or deter stockholders or management from bringing a lawsuit against
        Directors and officers for breach of their duty of care, even though such
        an
        action, if successful, might otherwise have benefited us and our 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: 10pt; FONT-FAMILY: Times New Roman;">The
        Articles provide for the indemnification of our officers and Directors, and
        the
        advancement to them of expenses in connection with any proceedings and claims,
        to the fullest extent permitted by Texas law. The Articles include related
        provisions meant to facilitate the indemnitee's receipt of such benefits.
        These
        provisions cover, among other things: (i) specification of the method of
        determining entitlement to indemnification and the selection of independent
        counsel that will in some cases make such determination, (ii) specification
        of
        certain time periods by which certain payments or determinations must be
        made
        and actions must be taken, and (iii) the establishment of certain presumptions
        in favor of an indemnitee. </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: 10pt; FONT-FAMILY: Times New Roman;">Insofar
        as indemnification for liabilities arising under the Securities Act may be
        permitted to our directors, officers and controlling persons pursuant to
        the
        foregoing provisions, we have been advised that in the opinion of the SEC,
        such
        indemnification is against public policy as expressed in the Securities 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">&#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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u><a name="useof">USE
</a>OF
        PROCEEDS</u></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: 10pt; FONT-FAMILY: Times New Roman;">We
        are
        not selling any shares of our Common Stock in this offering and therefore
        will
        not receive any proceeds from the sale thereof. The selling shareholders
        will
        pay any underwriting discounts and commissions and expenses incurred by the
        selling shareholders for brokerage, accounting, tax or legal services or
        any
        other expenses incurred by the selling shareholders in disposing of the shares.
        We will bear all other costs, fees and expenses incurred in effecting the
        registration of the shares covered by this prospectus, including, without
        limitation, all registration and filing fees, Nasdaq Small Cap Market listing
        fees, blue sky registration and filing fees, and fees and expenses of our
        counsel and our accountants.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u><a name="selling">SEL</a>LING
        SECURITY HOLDERS</u></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: 10pt; FONT-FAMILY: Times New Roman;">The
        following is a list of the selling stockholders who currently own the 690,806
        shares of Common Stock covered by this prospectus. Beneficial ownership is
        determined in accordance with Rule 13d-3 of the Securities Exchange Act of
        1934,
        as amended (the &#8220;Exchange Act&#8221;) promulgated by the SEC, and generally includes
        voting or investment power with respect to securities. The percent of beneficial
        ownership for the selling stockholders is based on 6,123,842 shares of common
        stock outstanding as of April 25, 2007. Shares of common stock subject to
        warrants, options and other convertible securities that are currently
        exercisable or exercisable within 60 days of April 25, 2007, are considered
        outstanding and beneficially owned by a selling stockholders who holds those
        warrants, options or other convertible securities for the purpose of computing
        the percentage ownership of that selling stockholders but are not treated
        as
        outstanding for the purpose of computing the percentage ownership of any
        other
        stockholder.</font></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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
        shares of common stock being offered under this prospectus may be offered
        for
        sale from time to time during the period the registration statement of which
        this prospectus is a part remains effective, by or for the account of the
        selling stockholders. After the date of effectiveness of the registration
        statement of which this prospectus is a part, the selling stockholder may
        have
        sold or transferred, in transactions covered by this prospectus or in
        transactions exempt from the registration requirements of the Securities
        Act,
        some or all of its common stock. Information about the selling stockholders
        may
        change over time. Any changed information will be set forth in an amendment
        to
        the registration statement or supplement to this prospectus, to the extent
        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 style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
        following table sets forth information concerning the selling stockholders,
        including the number of shares currently held and the number of shares offered
        by each selling security holder, to our knowledge as of </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">April
        25,
        2007. A</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">t
        the
        time of the acquisition there were no agreements, understandings or arrangements
        with any other persons, either directly or indirectly, to distribute the
        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 align="left">
        <div align="left">
          <div align="left">
            <div align="left">
              <table cellpadding="2" cellspacing="0" width="100%">

                  <tr>
                    <td align="left" valign="top" width="30%" style="BORDER-TOP: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td align="left" valign="top" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-LEFT: black 2px solid; 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="top" width="14%" style="BORDER-TOP: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;"><strong>Before
                        the</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><u>Offering</u></strong></font></div>
                    </td>
                    <td valign="top" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="top" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-TOP: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;"><strong>After
                        the</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><u>Offering</u></strong></font></div>
                    </td>
                    <td align="left" valign="top" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-TOP: black 2px solid; 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 valign="bottom" width="30%" style="BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">Name
                        of Selling Stockholder</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">Position,</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;">Office
                        or</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;">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: 10pt; FONT-FAMILY: times new roman;">Material</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;">Relationship</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">Total</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;">Number
                        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: 10pt; FONT-FAMILY: times new roman;">Shares
                        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: 10pt; FONT-FAMILY: times new roman;">common</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;">stock</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;">Beneficially</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;">Owned
                        Prior to</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;">the
                        Offering</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;"><sup>(1)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">Number
                        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: 10pt; FONT-FAMILY: times new roman;">Shares
                        to</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;">be
                        Offered</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;">for
                        the</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;">Account
                        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: 10pt; FONT-FAMILY: times new roman;">the
                        Selling</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;">Stockholder</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;"><sup>(2)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">Number</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;">of&#160;Shares</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;">to
                        be</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;">Owned</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;">after
                        this</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;">Offering</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;"><sup>(3)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">Percentage</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;">to
                        be</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;">Beneficially</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;">Owned</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;">after
                        this</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;">Offering</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;"><sup>(3)</sup></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;"><sup>(4)</sup></font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Common
                        Stock</strong></font></div>
                    </td>
                    <td valign="top" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="top" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="top" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="top" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                  </tr>
                  <tr bgcolor="#cceeff">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Five
                        Points Fund, LP </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(5)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">162,946</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">47,168</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">115,778</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">1.8%</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Five
                        Points Offshore Fund, Ltd.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>
                        (6)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">27,054</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">7,832</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">19,222</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">&lt;1%</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#cceeff">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Guerilla
                        Partners, LP </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(7)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">98,862</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">95,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">3,862</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">&lt;1%</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Peter
                        J. Siris </font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">65,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">65,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#cceeff">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Outpoint
                        Offshore Fund, Ltd.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(8)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">50,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">50,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Clarus
                        Capital, LLC</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(9)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">105,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">80,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">25,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">&lt;1%</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#cceeff">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">WestEnd
                        Partners, LP </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(10)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">40,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">40,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">WestEnd
                        II </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(11)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">25,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">25,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#cceeff">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Stony
                        Point Fund, LP </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(12)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">50,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">20,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">30,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">&lt;1%</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Bald
                        Eagle Fund, Ltd. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(13)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">4,810</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">4,810</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#cceeff">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Kensington
                        Partners, LP </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(14)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">105,190</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">105,190</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Toro
                        Holdings, LLC </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(15)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">135,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">135,000</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">-0-</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="#cceeff">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Fairfield
                        Investments Group, LLC</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">None</font></div>
                    </td>
                    <td 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: 10pt; FONT-FAMILY: times new roman;">231,361
                        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><sup>(16)</sup></font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">15,806</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">215,555</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">3.5%</font></div>
                    </td>
                  </tr>
                  <tr bgcolor="white">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                  </tr>
                  <tr bgcolor="#cceeff">
                    <td align="justify" valign="top" width="30%" style="BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">TOTAL</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-LEFT: black 2px solid; 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: 10pt; FONT-FAMILY: times new roman;">690,806</font></div>
                    </td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                    <td valign="bottom" width="14%" style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid">&#160;</td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></strong></font></div>
        </div>
      </div><br>
      <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: 10pt; FONT-FAMILY: Times New Roman;">(1)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Includes
                  shares of common stock for which the selling security holder has
                  the right
                  to acquire beneficial ownership within 60
                  days.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(2)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
                  table assumes that each selling security holder will sell all shares
                  offered for sale by it under this registration statement. Security
                  holders
                  are not required to sell their
                  shares.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(3)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Assumes
                  that all shares of Common Stock registered for resale by this prospectus
                  have been sold.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(4)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Based
                  on 6,123,842 shares of Common stock issued and outstanding as of
                  April 25,
                  2007.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(5)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Paul
                  McNulty, Managing Member of the General Partner, is the natural
                  person
                  with investment decision and voting power for this
                  entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(6)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Paul
                  McNulty, Director, is the natural person with investment decision
                  and
                  voting power for this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(7)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Peter
                  Siris is the natural person with investment decision and voting
                  power for
                  this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(8)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Jordan
                  Grayson is the natural person with investment decision and voting
                  power
                  for this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(9)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Ephraim
                  Fields is the natural person with investment decision and voting
                  power for
                  this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(10)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Sean
                  Cooper is the natural person with investment decision and voting
                  power for
                  this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(11)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">George
                  Bolton is the natural person with investment decision and voting
                  power for
                  this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(12)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">C.
                  Peter Marin is the natural person with investment decision and
                  voting
                  power for this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(13)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Richard
                  Keim is the natural person with investment decision and voting
                  power for
                  this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(14)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Richard
                  Keim is the natural person with investment decision and voting
                  power for
                  this entity.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(15)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Paul
                  J. Pollack is the natural person with investment decision and voting
                  power
                  for this entity. Mr. Pollack is the President of Montgomery Street
                  Research, an entity with which we currently have a Consulting
                  Agreement.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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: 27pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(16)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Includes
                  189,557 shares of common stock held indirectly by Fairfield Investment
                  Group, LLC that are issuable upon the conversion of a convertible
                  debenture, and 41,804 shares of common stock held indirectly by
                  Fairfield
                  Investment Group, LLC. Jeff Benton is the Managing Director of
                  Fairfield
                  Advisors, LLC, the manager of Fairfield Investment Group, LLC,
                  and has
                  investment decision and voting authority for this
                  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="center"><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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><a name="plan">PLAN</a>
        OF DISTRIBUTION</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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">We
        have
        not been advised by the selling stockholders as to any plan of distribution.
        Shares owned by the selling stockholders, or by their partners, pledgees,
        donees
        (including charitable organizations), transferees or other successors in
        interest, may from time to time be offered for sale either directly by such
        individual, or through underwriters, dealers or agents or on any exchange
        on
        which the shares may from time to time be traded, in the over-the-counter
        market, or in independently negotiated transactions or otherwise. The methods
        by
        which the shares may be sold 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 style="WIDTH: 36pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">a
                  block trade (which may involve crosses) in which the broker or
                  dealer so
                  engaged will attempt to sell the securities as agent but may position
                  and
                  resell a portion of the block as principal to facilitate the transaction;
                  </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; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></strong></font></div>
        </div>
      </div><br>
      <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">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">purchases
                  by a broker or dealer as principal and resale by such broker or
                  dealer for
                  its own account pursuant to this
                  prospectus;</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: 36pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">exchange
                  distributions and/or secondary
                  distributions;</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: 36pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">sales
                  in the over-the-counter market;</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: 36pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">underwritten
                  transactions;</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: 36pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">ordinary
                  brokerage transactions and transactions in which the broker solicits
                  purchasers; 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%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 36pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">privately
                  negotiated transactions.</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: 10pt; FONT-FAMILY: Times New Roman;">Such
        transactions may be effected by the selling stockholders at market prices
        prevailing at the time of sale or at negotiated prices. The selling stockholders
        may effect such transactions by selling the common stock to underwriters
        or to
        or through broker-dealers, and such underwriters or broker-dealers may receive
        compensations in the form of discounts or commissions from the selling
        stockholders and may receive commissions from the purchasers of the common
        stock
        for whom they may act as agent. The selling stockholders may agree to indemnify
        any underwriter, broker-dealer or agent that participates in transactions
        involving sales of the shares against certain liabilities, including liabilities
        arising under the Securities Act. We have agreed to register the shares for
        sale
        under the Securities Act and to indemnify the selling stockholders, certain
        representatives of the selling stockholders and each person who participates
        as
        an underwriter in the offering of the shares against certain civil liabilities,
        including certain liabilities under the Securities Act. We are required to
        pay
        certain fees and expenses incurred by us incident to the registration of
        the
        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: 10pt; FONT-FAMILY: Times New Roman;">In
        connection with sales of the common stock under this prospectus, upon
        effectiveness of the registration statement, the selling stockholders may
        enter
        into hedging transactions with broker-dealers, who may in turn engage in
        short
        sales of the common stock in the course of hedging the positions they assume.
        Upon effectiveness of the registration statement, the selling stockholders
        also
        may sell shares of common stock short and deliver them to close out the short
        positions, or loan or pledge the shares of common stock to broker-dealers
        that
        in turn may sell them.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Because
        selling stockholders may be deemed to be statutory &#8220;underwriters&#8221; within the
        meaning of the Securities Act, they will be subject to the prospectus delivery
        requirements of the Securities Act. The selling stockholders are subject
        to the
        applicable provisions of the Securities Act, and the rules and regulations
        thereunder which may restrict certain activities of, and limit the timing
        of
        purchases and sales of securities by, selling stockholders and other persons
        participating in a distribution of 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: 10pt; FONT-FAMILY: Times New Roman;">The
        selling stockholders may also sell shares under Rule 144 of the Securities
        Act,
        if available, rather than under this prospectus. There is no underwriter
        or
        coordinating broker acting in connection with the proposed sale of the shares
        by
        the selling 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 style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
        selling stockholders and any underwriters, dealers or agents that participate
        in
        distribution of the shares may be deemed to be underwriters, and any profit
        on
        sale of the shares by them and any discounts, commissions or concessions
        received by any underwriter, dealer or agent may be deemed to be underwriting
        discounts and commissions under the Securities Act. The selling stockholders
        do
        not expect these commissions and discounts to exceed what is customary in
        the
        types of transactions involved.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Under
        applicable rules and regulations under the Exchange Act, any person engaged
        in
        the distribution of the resale shares may not simultaneously engage in market
        making activities with respect to the common stock for the applicable restricted
        period, as defined in Regulation M, prior to the commencement of the
        distribution. In addition, the Selling Stockholders will be subject to
        applicable provisions of the Exchange Act and the rules and regulations
        thereunder, including Regulation M, which may limit the timing of purchases
        and
        sales of shares of the common stock by the Selling Stockholders or any other
        person. We will make copies of this prospectus available to the Selling
        Stockholders and have informed them of the need to deliver a copy of this
        prospectus to each purchaser at or prior to the time of the sale (including
        by
        compliance with Rule 172 under the Securities Act).</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; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">We
        agreed
        to keep this prospectus effective until the earlier of (i) the two-year
        anniversary of the effective date, or (ii) the time that all of the shares
        have
        been sold pursuant to the prospectus or Rule 144 under the Securities Act
        or any
        other rule of similar 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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">There
        can
        be no assurances that the selling stockholders will sell any or all of the
        shares offered under 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: 45pt; 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><u><a name="des">DESCRIP</a>TION
        OF SECURITIES TO BE
        REGISTERED</u></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: 10pt; FONT-FAMILY: Times New Roman;">The
        following is a description of certain provisions relating to our capital
        stock.
        For additional information regarding our stock, please refer to our Articles
        of
        Incorporation and Bylaws which have previously been filed with the
        SEC.</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: 10pt; FONT-FAMILY: Times New Roman;"><strong>General</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: 10pt; FONT-FAMILY: Times New Roman;">Our
        authorized capital stock consists of 16,000,000 shares of which there are
        15,000,000 shares of common stock, par value $.01 per share, and 1,000,000
        shares of preferred stock, par value $.10 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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; 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">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">As
        of May
        7, 2007, there were 6,123,842 shares of common stock outstanding. We are
        registering 690,806 shares of common stock herewith. The rights of all holders
        of the common stock are identical in all respects. The holders of the common
        stock are entitled to receive ratably such dividends, if any, as may be declared
        by the Board of Directors out of legally available funds. The current policy
        of
        the Board of Directors, however, is to retain earnings, if any, for
        reinvestment. </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: 10pt; FONT-FAMILY: Times New Roman;">Upon
        liquidation, dissolution or winding up of the Company, the holders of the
        common
        stock are entitled to share ratably in all aspects of the Company that are
        legally available for distribution, after payment of or provision for all
        debts
        and liabilities. </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: 10pt; FONT-FAMILY: Times New Roman;">The
        holders of the common stock do not have preemptive subscription, redemption
        or
        conversion rights under our Articles of Incorporation. Cumulative voting
        in the
        election of Directors is not permitted. The outstanding shares of common
        stock
        are validly issued, fully paid and nonassessable. The rights, preferences
        and
        privileges of holders of common stock will be subject to, and may be adversely
        affected by, the rights of holders of shares of any series of preferred stock
        that are presently outstanding or that may be designated and issued by us
        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">&#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><u><a name="expert">EX</a>PERTS</u></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: 10pt; FONT-FAMILY: Times New Roman;">The
        financial statements of Rick&#8217;s Cabaret International, Inc. for the years ended
        September 30, 2006 and 2005, incorporated by reference, have been audited
        by
        Whitley Penn LLP, independent registered public accounting firm, as set forth
        in
        their report included in such financial statements, in reliance upon such
        report
        given on the authority of such firm as experts in accounting and
        auditing.</font></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="center">
          </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;">Page
            12</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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></strong></font></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: 10pt; FONT-FAMILY: Times New Roman;"><strong><u><a name="legal">LEG</a>AL
        MATTERS</u></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: 10pt; FONT-FAMILY: Times New Roman;">The
        validity of the issuance of the common stock offered under this prospectus
        has
        been passed upon for us by Axelrod, Smith &amp; Kirshbaum, P.C., Houston, Texas.
</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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u><a name="material">MA</a>TERIAL
        CHANGES</u></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: 10pt; FONT-FAMILY: Times New Roman;">There
        have been no material changes in the Registrant&#8217;s affairs since the end of the
        last fiscal year.</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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u><a name="incorpora">INC</a>ORPORATION
        OF CERTAIN INFORMATION BY
        REFERENCE</u></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: 10pt; FONT-FAMILY: Times New Roman;">This
        prospectus is a part of a registration statement on Form&#160;S-3 that we filed
        with the SEC with respect to the shares offered by this prospectus. This
        prospectus does not contain all of the information that is in the registration
        statement. We omitted certain parts of the registration statement as allowed
        by
        the SEC. We refer you to the registration statement and its exhibits for
        further
        information about us and the shares offered by the selling
        shareholders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; 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: 10pt; FONT-FAMILY: Times New Roman;">The
        SEC
        allows us to &#8220;incorporate by reference&#8221; the information we file with the SEC,
        which means that we can disclose important information to you by referring
        to
        those documents. The information incorporated by reference is an important
        part
        of this prospectus. The information that we file later with the SEC will
        automatically update</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">
        and
        supersede this information. We incorporate by reference the documents listed
        below and any future filings made with the SEC under Section&#160;13(a), 13(c),
        14 or 15(d) of the Securities Exchange Act of 1934 until this offering is
        completed:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; 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: 45pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">our
                  Annual Report on Form&#160;10-KSB for the year ended September 30,
                  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: 45pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">our
                  Quarterly Reports on Form&#160;10-QSB for the quarters ended December 31,
                  2006 and March 31, 2007;</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: 45pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">our
                  Current Reports on Form&#160;8-K filed on October, 12, 2006; November 14,
                  2006; February 6, 2007; April 5, 2007 and April 25, 2007, and on
                  Form
                  8-K/A on November 14, 2006 and May 11, 2007;
                  and</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: 45pt">&#160;</td>
              <td style="WIDTH: 36pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">our
                  Proxy Statement for the 2006 Annual Meeting of
                  Shareholders.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 81pt; TEXT-INDENT: -45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">You
        may
        request a copy of these filings, at no cost, by writing to or telephoning
        us at
        the address below. However, we will not provide copies of the exhibits to
        these
        filings unless we specifically incorporated by reference the exhibits in
        this
        prospectus.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Eric
        Langan, CEO/President</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Rick&#8217;s
        Cabaret International, Inc.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10959
        Cutten Road</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Houston,
        Texas 77066</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">281-397-6730</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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><a name="commison">CO</a>MMISSION
        POSITION ON </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><u>INDEMNIFICATION
        FOR SECURITIES ACT LIABILITIES</u></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: 10pt; FONT-FAMILY: Times New Roman;">Our
        certificate of incorporation provides that we shall indemnify our directors
        and
        officers to the fullest extent permitted by Texas law and that none of our
        directors will be personally liable to the Company or its stockholders for
        monetary damages for breach of fiduciary duty as a director, except for
        liability:</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 align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="LINE-HEIGHT: 1.25;">
              <td style="WIDTH: 18pt">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">for
                  any breach of the director's duty of loyalty to the Company or
                  its
                  stockholders;</font></div>
              </td>
            </tr>

        </table>
      </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="center">
          </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;">Page
            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="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman;"><strong><em><a href="#toc">Table
            of Contents</a></em></strong></font></div>
        </div>
      </div><br>
      <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">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">for
                  acts or omissions not in good faith or that involve intentional
                  misconduct
                  or a knowing violation of the law;</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">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">under
                  the Texas Business Organization Code for the unlawful payment of
                  dividends; or</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">&#160;</td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;</font></div>
                </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">for
                  any transaction from which the director derives an improper personal
                  benefit.</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: 10pt; FONT-FAMILY: Times New Roman;">These
        provisions require us to indemnify our directors and officers unless restricted
        by Texas law and eliminate our rights and those of our stockholders to recover
        monetary damages from a director for breach of his fiduciary duty of care
        as a
        director except in the situations described above. The limitations summarized
        above, however, do not affect our ability or that of our stockholders to
        seek
        non-monetary remedies, such as an injunction or rescission, against a director
        for breach of his fiduciary duty.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Insofar
        as indemnification for liabilities arising under the Securities Act may be
        permitted to our directors, officers and controlling persons pursuant to
        the
        foregoing provisions, we have been advised that in the opinion of the Securities
        and Exchange Commission, such indemnification is against public policy as
        expressed in the Securities 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"><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: 10pt; FONT-FAMILY: Times New Roman;"><strong><u><a name="where">WHERE
        YOU </a>CAN FIND MORE INFORMATION</u></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: 10pt; FONT-FAMILY: Times New Roman;">We
        have
        filed with the SEC a registration statement on Form S-3 under the Securities
        Act, and the rules and regulations promulgated thereunder, with respect to
        the
        common stock offered hereby. This prospectus, which constitutes a part of
        the
        registration statement, does not contain all of the information set forth
        in the
        registration statement and the exhibits thereto. Statements contained in
        this
        prospectus as to the contents of any contract or other document that is filed
        as
        an exhibit to the registration statement are not necessarily complete and
        each
        such statement is qualified in all respects by reference to the full text
        of
        such contract or document. For further information with respect to us and
        the
        common stock, reference is hereby made to the registration statement and
        the
        exhibits thereto, which may be inspected and copied at the SEC&#8217;s Public
        Reference Room located at 100 F Street, N.E., Washington, D.C. 20549, and
        copies
        of all or any part thereof may be obtained at prescribed rates from the
        Commission at such addresses. Also, the SEC maintains a World Wide Web site
        on
        the Internet at </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>http://www.sec.gov</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">
        that
        contains reports, proxy and information statements and other information
        regarding registrants that file electronically with the SEC. Additional
        information can also be obtained through our </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">website
        at </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>www.Ricks.com</u></font><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;">We
        also
        make available free of charge our annual, quarterly and current reports,
        proxy
        statements and other information upon request. To request such materials,
        please
        contact Mr. Eric Langan, our President and Chief Executive Officer, at 10959
        Cutten Road, Houston, Texas 77066.</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: 10pt; FONT-FAMILY: Times New Roman;">We
        are in
        compliance with the information and periodic reporting requirements of the
        Exchange Act and, in accordance therewith, will file periodic reports, proxy
        and
        information statements and other information with the SEC. Such periodic
        reports, proxy and information statements and other information will be
        available for inspection and copying at the principal office, public reference
        facilities and Web site of the SEC referred to above. </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: 8pt; FONT-FAMILY: Times New Roman;">Page
        14</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="2" width="100%">
        </div>
      </div>
    </div>
  </body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>logo.jpg
<DESCRIPTION>CORPORATE LOGO
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_X0!P17AI9@``24DJ``@````$`!H!!0`!
M````/@```!L!!0`!````1@```"@!`P`!`````@#`P#$!`@`9````3@``````
M``!@`````0```&`````!````141'05)I>F5R(%-O9G1W87)E(%-U:71E`![_
MVP!#``(!`0$!`0(!`0$"`@("`@0#`@("`@4$!`,$!@4&!@8%!@8&!PD(!@<)
M!P8&"`L("0H*"@H*!@@+#`L*#`D*"@K_VP!#`0("`@("`@4#`P4*!P8'"@H*
M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*
M"@K_P``1"`"\`+0#`2(``A$!`Q$!_\0`'P```04!`0$!`0$```````````$"
M`P0%!@<("0H+_\0`M1```@$#`P($`P4%!`0```%]`0(#``01!1(A,4$&$U%A
M!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*%A<8&1HE)B<H*2HT-38W.#DZ0T1%
M1D=(24I35%565UA96F-D969G:&EJ<W1U=G=X>7J#A(6&AXB)BI*3E)66EYB9
MFJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?H
MZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!`0$!`0````````$"`P0%!@<("0H+
M_\0`M1$``@$"!`0#!`<%!`0``0)W``$"`Q$$!2$Q!A)!40=A<1,B,H$(%$*1
MH;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF)R@I*C4V-S@Y.D-$149'2$E*4U15
M5E=865IC9&5F9VAI:G-T=79W>'EZ@H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::G
MJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:XN/DY>;GZ.GJ\O/T]?;W
M^/GZ_]H`#`,!``(1`Q$`/P#]_****`"BBB@`HHHH`****`/+/VPOB=XF^$'P
M:F\>^$KI(KRSU2T(61,K*AE&Z-N^UAE3C!YZCK75_!OXK^&/C5\/-/\`B#X4
MFS!>1XF@8_/;3+P\3CU4\>XP1P0:\M_X*/L1^S->1@_?U6U!YZ_,3_2OES]A
M[]I67X"^/4T7Q%?O_P`(OKC)%J`D;Y;67@)<CZ?=?U4YYV`5^;9MQ@LBXYIX
M'$R_<5:<?^W9N4TI>CT3^3Z'T^#R3^T,@EB*2_>0D_G&RT]5NOGW/T=HI(Y(
MYHUEB<,K`%64Y!!Z$&EK])/F`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`\%_P""C@C/[-TXE4D?VM;\@]"%<C]0*^"]0TAH_#MI
M?&#`EXA`.23QNZ9&#D=<'Z\U]Z_\%&I!'^SE*2^,ZM"!TY_=R_\`Z_PKX.;7
MIFAM;:(1J88HU,D4"C&.C$D$GJ/RK^6/&251\7P4>E./YR/T[@[G65^[_._R
M1]A?\$ZOVFW\5Z*/@/XUO<ZCI<!;0KB5^;FV7K!SU>,=/5/]PD_5%?DM97^K
M>!]:TWQ;X6OI;+4K"9;FUF\T%U<.V"!CD<8(Z$$C&":_2G]FOX\:'^T%\,K7
MQCI^R&^B`@UFQ5N;:Y`&X#_9.=RGT/J"!^F>%O&:SO`?V=B9?OJ2T;WE!:??
M'9]U9]SY_BG)U@Z_UJ@OW<WKY2_R>Z/0****_6SY$****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`\%_X*,PS3?L\.L,8<KJT3$$]A'+D_@,
MU\;R^#!IOAN.Z73T4R)"\B[0-Q*G^\>1]WIZGK7VO^W@BS_!4VK(K;[X?*W0
M_NI!_6OGO5H[:P$5NJ*@\M%B*1`9P03C^[G;P>G/XU_)WC;"I'BA54[+DBOS
M_P`_O/T/ABJXY9RIV]YO\O\`(\QT'P*/$%BS6(AS+(`SRKN\N+!VD[FX'&WH
M<XZ\5T7P2^)FN?LD_&)-<,DMQX;U%Q:ZM$B\21]=P&?OQDDCU&X<;JTOLU[.
M_G07$.))`[31Q8/0'!)P!T`(XZCJ.*SO$VDVFH:;-H.HR+/]H8R"5,!HCA1G
MD]\$'J.G3M^59-G^/R/,J>,H.TH._P#P.EU;1]UIU/>J.&)IRHUE>$E9K_+S
M7<_1+2-6TW7M*MM;T:]CN;2[@2:VN(FRLD;`%6![@@@U8KXX_P"">W[1LWA[
M53^SEX^U`B-Y&;PU<S-PK'+-;Y)Z-]Y!Z[E[J*^QZ_N;AGB'!\3913QU#K\2
M_EEU7^7=69^79GE]7+,9*C/5;I]T]G_74****^@//"BB@D`9)H`**XWQW^T#
M\&_ALCGQ?\0-/MI$!W6ZS>9)]-JY(_'%?/?Q/_X*P?#?1/-LOAAX0OM:N$)4
M2R(=B-Z%4S^K"OG\RXIX?RBZQ6(BI+[*?-+_`,!C=_@=V%RW'XU_N:;?GT^]
MZ'UMG%8/C;XH?#KX;V+:CX\\:Z;I,2KN)O;I4)'J%)R?P%?G7\0O^"@/[5WQ
M&/D6=Y'X<LI6.^*W(B94]1L+,P/H7']*T/\`@GW\!_&?[6OQ>N/CA\4;B:X^
M'_A.^\K2XI\A?$&K1GYW(/WK>%L9_A>0`<A'%?+X/Q"AGN9+!91AW-]9R:48
MKJVE=OT;BV>S6X;J8#"O$8VHHKHEJV^RZ?GW/T;TO4[/6=-M]7TZ1GM[J%98
M':-D)1@""58`C@C@@&BIP`!@"BOT=7MJ?,!1113`****`"BBD<L$)09('`]3
M0!4USQ!H7AG3Y-6\1:Q;6-K$NZ2XNYUC11ZDL<5\\_%G_@K7^P=\());76/C
M?::G<PDA[?0()+UE([$Q*P%?G#_P4*U;_@JM^U%^T+K'P;\)_LQ^,+NUM=3F
M@L;B1HTTD6XD/E/&SD1J"@4L[+))N)V[!P?'_`G_``1T^/WB_P".>E_`/X^?
MM0>"?!'BS5K4SVOA](I]3NV4`,RK*S)'O"D';M)P1QBOG<5FF;RK.G@\+=)V
MYIRY5?R7Q->?4^PP&2</QPT:V8XVS:OR4X\\DO-_#%^3VZGV;^UG_P`%VOV0
MOB3X,3PUX&TGQ/=S0WNYI'TP1#&QER`[`GKZ5R^D?\%4OV+O&4$$3>.[O1[K
MRU7R]:TN6)"<8^]MV9[9)[UP7[1?_!O5\./V??AM9^)O$'[3GC+6M3GN?+E-
MM%;6L2C@9"I'ZGOFO-_%W_!#?58+03_#O]I3526B#);ZUI4$RDD9P2JJV.F2
M2.O6OP[Q`JY=6S:=#.JD(57&/P\]EU33Y9:_(^PRJEPQ]2_V.591NU>2IO5>
M2:_.Y]O^&?&OACQCIRZOX'\6V.JVD\96":UN5E4`C.[Y?0`=?UQ4&I:9<7)C
MS-(P\[YO++#?P%'?=P!G'O\`G^7^M_![]NC_`()L>)4\:0HLNC@@W5[HS.]C
M.A/(GMVR8O=P3MXS7WS^R;^U]H7[4WPZM_%^CP&*]M)C#JVFQR?/#*%&0<@C
M'.0>A'I7XEGO#-;+*:Q>%JJK0VNK>[Y/_/=/=(JO15/WH34HOKJOO3U7Z]&[
M'8^*?AW=6NBQ:YIINH]:LKE7M[Q9=K9#EE9FX^8`9#=B.2.M?:7['W[1MK\?
MOARO]JS(GB+1PMOK=N.-[=%G4?W7P?HP8=,9^:;35?M5EY8MX]\1(8NQ`/X=
M_7G/ISBN?L+3XI?"OXD'XC_!%TBEN[9H[F`<*`_WMRM\I4D`CKAAZU]7X:\=
MOA7-'&;<Z$U[Z6ZTW5[*Z=_57\K>=F>70S?"<E_?CK%O\4_)_@S]#;J]L[&!
MKJ]NHX8D&7DE<*JCW)Z5YWX]_:S^!/P]5UU7QO;W$J=8;%A(?^^LA?UKY!O[
M7]H'XHS?:?B1\1[F"(`D00.S.A)Y`).%&#U!Q[4:5\!/!5C=B]O(IM0DVEBU
M[*7)XP"5'!YSU]![U^I9IXT8VJG'*L)9=)3U?KRIK_TIGC87A&FFGB:ORBOU
M?^1Z;X\_X*9W-W.-+^$OP_:Z=D),]R&?\0`!C`]017B?CWX\_M0_%B.1O$/B
M6[L+!G):VBS'&T>">0N%R-N/7)'KQZ/;^&=/TZ/[/8:6D/E0CRRJC'I@8_PJ
MCJ'ARPFM1IES(YB(PPC)7@GV(Z9_D>V:_*,^XZXVS*3CB*SY7T3Y5O:S2Y4_
MG?U/>H93E^"M*E15^\O>?XZ?@>*7/PTM=25M1\3:I<WH<KY@NG.""I(5E/;*
M]SW[9K#O_#MGHL12)GC0-MAS"%&!G.`3UZ?G7KYT@Z.[QZ?:.8F0NMORS9R>
M`,[1CIU[CTKYS_;#_:`MOA!X)CU^U\/3W.L7CI9Z+HRYW:A>,Q15$:@D8P2<
M9.`.YKY+*:V.S/&*A3O*[MT_(]+"XJI[5IOW5N=U\&/@IXK_`&G_`(O0?!;P
MG+<6UH8A<^+M;B'&F6&2#@GCSY3E(QU^\Y&$-?JAX`\!^$_A?X+TSX>^!=%B
MT[2-'LTM=/LX1\L4:C`'J3W)/))).2:^&O\`@DS\;M?^'GCZ]_8G^+_[/5QX
M0\>RZ,WB;6]8FU:&Y.L%I6A$P"'=%'A,11M@B,`X^;+??E?V=P'PQAN',G5K
M.K/6<O-?9]([>I^=<2YE7Q^/<9*T8_"O)]=--?R"BBBON3YP****`"BBB@`H
MI&944LQ``&23VKC_`!A\??A-X'A>36_&5H6C.&C@D#D'T)'RJ>.Y%<V*QF$P
M5+VF(J1A'O)I+[V73I5*LN6$6WY*YV.!G..?6OPJ_;T^+L_A'_@O;X8\>F\,
M<6@_$'1K"63?C;%+!Y!!]MUP*_4#QE_P43\-?:VTOX8^$KK5Y@0JR)$T@!/J
M%(7'OO-?AE_P5?\`$'CJ]_;!\<?$3Q%8/I^J27%EKEHB[2R^4D4B8V\?>A/_
M`->O@<SXYR'%UJ>'P-;VDX3A*5D^7E4DG[UK/=;7/O>%.'L94Q%:->'+ST:L
M8WWYN733<_<O_@HYK>AW?POL+'^T(7F^T!V@24;P"\0&1R1D$]N@->>)IJ20
MP-@M(EN,9<GG'][]*\!U;X_?!'X:_"?PE\7/C-XWU779M1T:UU&WL;2V,L<7
MF*I#LB#:@)Z,Y&2#UQ7D_P`2_P#@MQ\--%LW?P;\.9<H"$NM>U.."('IG$1D
M.._05^+<5X7'\59]4QT\/R*2BE%R7V=+WTUT[:'NY'E5:GE\:=&+J*[?,HNV
MMNNVGFSZX^)/A/PKXD\%:C9>+(X&L)K=_M)N.4V@'DYX`Z?UK\U/^"8]I)X+
M_;C\6_#?2OM(T.]T%M0MK8$C9&MPYMI2.P>!U(/=0O7-87C_`/X**_'G]JW4
M8_#_`,,?!][XLNI/DMM/T333_9T+9X:5B2DP7'_+5]A'6%^E?6W_``3B_8;\
M<?L^1:Y\>/V@=?6]\>^,$0ZB%DWI90*2R0ACRQ#.S,Q`RQ/08`\BME%+A_(,
M73KSM.M&RCY]'9ZZ;MVMHDFV]/0K47AJ4H5&N>5DDFI<NJ;;:NEII:]]7LCZ
M/TFQE5BRSR.B$8!0C=C&.".^#[<DXXKH=-G-I:*[LVY@'/.23GZ\DDCZ<?2J
MNA16$UL9]+N8Y$/_`"UBD!4GOD\\UT%A9`0":9$9@QP%['H&'?IWKXKAW)J]
M2K[K:=M>JW\O3^MSFI0Y5="V\@G/FW!V@<L`W`/TZ=J_+V+]OCXN_"C_`(**
MW":UXRNKCPC>>,)/#^IZ;-<DPI$\[1PS!22JNLA1<J`-N,C()/ZDV\9BD:V+
MC;M(;:.@/?CIWK\'/VSK/4O"_P"T!X\M[O*W6G^-Y9D(/0B\65"/P*FOUO):
M/+%*IKS249=];I_\!]STL%@Z.,G6IU-U2G*/E).+37];-G[O3Q;XFNE4A&((
M`;U'2L^]CV@PG>?D^0"0C''.._<^_P"=7?!/F7O@[2KBZ?>TEA"X8CG)C7_Z
M_P"=-U37/#5BUQ8MJUNUY#%O:U^T`2J.H^7J.@KQLUR!U82FM$KWOZM[+3T^
M1Q*<714Y-*_<\P^.?CC1/AOX:N;R\U06[>6Y>:1V7RU]><`<>_3ZUY9\._!'
M['?Q9UT?L_?M1ZE?2?$;Q_;1)X8FMHG:/PD)4>6T5YU.(KV80O,03N`CV?PM
MG?\`C#^SO/\`ME_`'XB_%3Q_J]]H7@#PCH]U)H4NGKODU348`3Y@S]^")EP1
MT9R1_`V?'])^)W_!/'_AW4-"\/>#=&?XQVKZ+XKUK0_!GBW4+$MJ[2G3X)XK
MV7S<M;Q7HDFM8698C+(`%VL5^V\-N#J.1P_M;$TUSU4W!/I'1.RZRDGI?I=]
M3Y['XCZU&6&HR:::4G'HW\-W=62M>7GI='VO\+_V(+;]@G0?$7[9_P`2OBEX
MM^*_COPYX4N(K>74+UO+2R10PMH(<E8UP@Z=3D]22?+;[_@K5^V"=+\%_M.>
M*OV?M,\'?!34-9TVSU36I;]=2>^@O4G?[5$]OD110B';)YF&1Y%0@-N"^T>%
M?ASXH\`_\$[O^&=?VK_VK['3_%?BC0[J"/Q->:B`\2S`LJ(TI#2;%.W)Y.*^
M6O@?^S=^T]\?/!WAK]E/X7?M0Z%XS^`>D^(;5-<U;P#<#19=/M;>WNH[C2G6
MVPUS'.\T4K/([,SQEB26S7[?6CBJ,:<,+'E75:;W6_6V]VKL^2P\\)B)59XR
M7,^_O;6?P]+[<JE9'ZF>!_&_A3XD>$M/\=>!]<@U+2=4MDN+"^M7W1S1L,A@
M1U%%5/A5\+_!?P6^'>D?"SX=Z0MAHNAV26NG6BL3Y<:C`&3UHKU%<\1[Z'05
M!J.J:;I%JU]JNH0VT*#+S7$H15'N3P*\K_:*3]K6&WENO@2-$NK18P19B00W
MSG'(5YOW1Y]T/O7P%\:/&?[05QXC:+X^67B?0KOSMD5KK8=(W/812;FCE'./
MD8U\)Q1QK6X<4N7`U:EOM62I_P#@2YG_`.2GNY3D;S25O;1CY7][[M#]`?B#
M^VE\`?A]$YN/&*:C*N1Y.F@2$D>C$A3^!->*^,_^"E?B#7)'T[X2_#UW).U;
MBX!<CT.>@ZC@J?K7S)X&TCP#-`CW,DDMRI^>*YER&RQX7/7@+WXS^(]6C33/
M!?A:Z\0PV!2TL[=[B:"W0891\Q(ZDD`8Z_EV_`L[\8N+<PJNAA;4D^D8Z_\`
M@3N_NY3ZNCPUE>#E:HG.2[Z+[EJ_O$USXB_M+?%FX_XK/QP=+MWP5AC.X$'K
M\F=H(]@#V]J\^^+/Q7_9<_9U@_M3XR^/UOM5CM_-M].O+II[FY#9`\N'^(Y(
M`'/)SS7D$_[5O[5GB_P_?_M;?#[X'W1^"NBWT-K>WDQ6*YG0QW#RW<;,X011
M-"D;AB#OFC7KQ63J_P`4M3A_:N\)_MH>%OV89OB/H(\%%Y_#L\=J#<3!EEAD
ME6Z20QM"<RJ\2[RZ!=P4MGSL+E6>5\VHRXCJ.,*BNIRDW;R;>OGI?LCV*<8T
MZ<HT8J-ND;+5+9]F_/OJ?6?[/'Q6^'_QT^'UIXX^'UG]G@??#<6=S!Y$]K+&
MVUXW3@A@P8$'T/J:^`?^"UG@$Z%^T1H/BF2V/EZ[X8*2L1PSPRD$'U.V0?G7
MTA^P1X.U/Q'\:OB+^U+:>%&\':%XIUZ[CT'P;!8S6B"V%P[)=S0R22;9Y%(+
MX(7(.!BN3_X+D>#AJWPI\%?$.-<RZ1K<EI<R`?PSQ^O^^B\>]>S@L)EF#S#$
M4</4YK72>FMK.WF[K?U/4R6M[#-*%1_SI?*7N_A?\#XZ\5^#?%?Q._8-^'OQ
ML\/WEU>+X)@NO"_BR$'?]D6WG=8)ROHH8Y/H]>P?\$O_``#_`,$WO%G@^Q\.
M_%?X>:3-\2[.$G4;OQ,QG.I..3-"S\$8_@[=.G%8O_!)'XHZ%8?$OQA^R]X^
M%M)H7CK3/MME#<KD&X4"&>,#D<HR/TZDFN*_;>_8<\7_`+*7BQO%'ARWN+SP
M9/=%].U2U=C+I3YR(W9>54'HW;@&O3QV8NMB9X;G<)54I1:TNK/3I?E=TX_:
MLNJ-7@U&M+*\1/D5.<N1N_+[VMI>35FGTN^C/U4\/Z3X"\+V!T7P-X,L=-MU
M)V165J$,BC&6!`]#]>/SS?C^WB;Q'\&O$^A^`=3%KJ\^ES16=PTVWRY&7CGL
M>V?;UK\W_P!FC_@IO\4OA)!%X4^+%Q-XBT+[L6JJH>[M5./F8?\`+48'7K[&
MOJOX_P#[1OASQ%^QGKGQ/^''C.*2WNK<1P7%F6W;Y0$R=HX(+?=XQL_"ORZO
ME.?8;.(2J-352<4I6O'?1-;K?9_B<6(R[&8*LJ-6-F_+1^:[KT,[_@DKX3^/
MGA6Q\?ZK\9HH+:UU;Q$)='TJ&_69;;Y/WFPH2$0N&(7/`/05];^,/BA\/OAK
MI<GB#X@>)[+3+)2"]U>W"Q)Q]3R?;WK\TO\`@E_^TD?"'BOXP3^++U8[.WLH
M-?M+,*!'$I1D98T'"@&'\^O6O./CI^T+\;?VHOC!IGPH^%MG+J_B?6I7CA8R
M;3&<`S!9.?L]K#N"$I\TI^9B0R+']NL!C<;G]5SY5!*#32M>\$]I-I65W*3;
MMOU.M9?7^MUHU9*$:;;G*VBUTLE:]_LI'ZL?#[]K;]G?XMZ\_AWX;_%?1=4O
MH#EK2VNOG(&/X3C(]QFORG_X+"^#F\'?M6^*]4$++!KEK::NC$=<;$E_+R\_
MC7T#^SY_P1Y^,_PG^,/@SXO^,/V@+&XDTB]^VZEIVG:2\+N^QAY*2%\F/+`G
M.22`<U#_`,%GM/\`"?B?5M!NM/,#ZEH,#+JLS9XAG)6.W;/5W*LX4\[(9#T7
MGMI8J&%SN-.C4]I%KFE;HXZK6R[6V^T++9QEFL:=&3:DG"[CRNTU9Z7>VCW^
MX^Y/AW^T+\(G\'Z!H1^(6BC4;O1[>2WLO[1C\QU,0Z+G)Z5\)_%CX2?$WQE_
MP4ZM/&D/Q%N-%^'27*77C7Q/-=K&FG6#1M%+:#(YDE=`8EP2#N;'!SXC^Q+^
MR[\2_B]I/AS]H;4?%%GI?A'0]>F3PKHL=RD<MY=(3$9KE@<I""<XP2%49/11
MW'_!2;XD^*_V9_B1J'[-DNKW%A)`ZRWOB2Y!A&J^9`GF302$X"R,SIP<B**.
M,$`R>9])E="K#,*F(J-U:5&-IT[:N<K\L7:_17D]4MMW9<#PWUG%PP%&O%.2
M:YWHDE;F:N]6M.79MZ[*Y^MGPD_X*9_\$SM=N-/_`&9/`_Q1TNT@6%=+T[1]
M0L)(()%`V"(&50&)]^22<UZUXL_8D_9)^(&FZ18^(/@/X9N+;1;U;W25BTV-
M!!*#D.NT#OS7\]7[*_[.O[)7QQ^'ECXL^-O[?%QX`\2W6K`_V%%X>#6MK`LO
MR,+DH29"`&\P.`"<@8XK^DSX5R:))\-M"/ASQ$FKV`TJ!;34XY`XND"`"0$=
M<XS7[AD^*Q.+PUZ\8+:RA+F279Z:-?<?F_$&`P678SDPLJC6MW./*[I[KNGW
MT?<^`?\`@L/X2LQ^T?\`#'XA?%;]FW7?&OPH\(:%J+^*HM"TA+WSDD3RUA96
MEC\@)_K/.0EU\L;1S5S_`()1Z5XF\0_M2_$KXP?LT>')=$_9_P!8U:YM;"VO
M;Z&2._N[4K;Q7-A#'!$UM:F*-0L;ESC'S5^AE[96>HVDEC?VL<\,J%98I4#*
MZGJ"#U%5_#WAKP]X3TQ-%\+Z):Z?9QDF.ULX%CC4GKA5`%=/U&'UWZQ?7Y=K
M;[V\N^IP_P!HU/J'U7E5N^O>^VU[]>VA=HHHKN/."JNLZ)HWB+39='\0:3;7
MUI.I6>UO(%DCD4]F5@01]:M44FDU9AL>`?$G_@FY^SAXUEDU+PEI=YX/OF!P
M_AR<1VY/O;.&B`X_@5#[UXCX\_80_:L^'<,A\!>)++QEIQ)WV\<YM+@KSQY,
MSF,_42@GL!TK[MJGK_B#0_"VD3Z]XDU:WL;*V0O<75U*$CC4=RQX%?'9UP!P
MIGMWB,.HR?VH>Z_731_-,]G"9_FF#2BI\T>TM5^.J^31^"G[0GP$^-'P`^$_
MCCX?^)_B5K_ASP5JVHW.K:C\/9?#"0IJ,LDD,C-^]`\V13;PB.5.$"';@.^[
MT3X.?LH_M/?'+X,ZY^W?X,^,7A'PC:>'7LGTBQO/&27^CPZ%;V4[7_VO^S_-
M,5PI,#["HD78P(&17W/H7_!6_P#86^-WCS5?@E\5[:VT[1YYI8-"U7Q9:1/I
M?B(1SM;R&W9@4?;*K+@\\9Z'->*WW_!+7X]_`WPC\0M>\#?M<-\._AG::SJO
MBS1-"\$Z*DT=ZUU`D<L=]!)E+F`6\2QK!]S&XXRQKQ*?`]%MNK4^M02E%*5D
MXIJUG;1[>3OY7/H_]8IN/)6A[*6CV;4M5LNEUU=[+SL>5?"S]L'XE:/^Q%XB
M_:%\7>'=*EETQKB70VMD>VAU*(-^[F"-\Z!\AL,,D8Z$\<-\==<_:3^,.C^'
M_P!G_P#:7U/PBT/QA\,C4_`T?AF4&?2;R-B\`N8I&$T9)1E?=&%1E*;BP8+P
MOP>U[XJ^!/@WX5\!^-O@CK^L_"'Q;=RZ1X6\57NG,D>IN6C9`T19TC1S-LC_
M`'GS&.11DHP'O?[/OP`^"?[,7Q*N_$=]X*UC2M;-L;?3]/UY)%.FVS2F39;Q
MSX:-"[NQ"\'<Q'7%?C[PW^JT<2\7A'K)NE**O!+2RNK^OH^J/I'[.I_#E[VZ
M6J:^5[JSWT=K6T/C3]DW]EO]ICP[^V_X,TW6_A9JVD+X8UR6YUG6)546K0)%
M(C+')D^9N8J=N.@YQ7Z<_$#PUX<\0:?>Z%K.F?;K.Y5A/:R$>6_"\8/RCY2>
M,#<2<CKEOC?XH^"K#P#J?C^?5##::1I\U[=NB[GCBBC9WPFX;B`A.,\[1CM7
MS-X.\<_MV?$KX9:1\:-"3P'!8:U;PW^E_#B]L;L7GV&78T:/JPN#&MUY;!L?
M93&""NXC,E?$9GB\1Q`HS]RC"FU%-R:O)WE;9V>^KM&.EY*]WMC<QKXK%^TQ
M'O3:6RZ1TNU_3[(\)_:K_P"";NL^%+R[\?\`[-*QW6F2OYTGA.YN5#QAN3Y#
M9^7N=A^7T(KQCX':!\?O$UAX[^!_AOP3KMM:2Z,E_=:;J6GR0)'>PSHP1&<;
M2TBJ?ND@[!ZBOM[]K/XN^+?@A\/#J7@VVTM_%.OZQ:Z)X4@UR;9:SWMR<[YR
MC@B*&%99WVG[D+`')%'P]^/_`/PF_P"R5=?M'^&["V@UFS\*:A<ZCILD8DAL
M]4LX)!<6C%6W$)<0R1\$%E&[(!!KW<!FV;T\IAB*U*-12DH1DW;WM&G)*]]G
M:6FJ=V['7/-IQI_4W._+::NK\MOY7TOU6JL]$CXW_8F^%_Q!^)/[06N?#:R\
M,ZYI<6K^!M2TO6+V]T>>*.VFW)Y*EG4!SN,GW2>`:M:?\"?V\?V0?C7;_$SP
MO\%M:EU?25GMK;6-'MXKZUO(7(+91G5AG8#C&1ZU]9_\$_OVK_$?Q\^(]]\-
M-?\`%OA3Q#<6_@'3_$IU3PSH%UI3Z?+<2/&]E+%>3S-<%<*PGB?;CY6569<[
M?C#]N_4O`_[<&G_`2TMM"D\"V>J:=X7\0ZW<W9^W0>(;^W>XM(XUW%3`L:P0
MR-C<)=0B7("MGMKYIGM'-:N$A@T_9TN9IR?PVUW46W+F45%QN]$K[G)6XDG7
M<Z\K.-9I2C;1N-K=;IJU[I]SP'6?'W_!4KXR6T7Q:U+P9XD\.6WA/&I7UYJ$
MYC>[2/(-O;6,+A64[@S&0LY,8`9037&>%_@U^U'_`,%&OB%=KX-LM5\+^%-/
MFEF?7O%6FR>9=7+#EMD@3S9W"KOD(VJJJB#:H"_=/[6_QQ^*/PV^+WP^^%?@
M#XJ>!?"6G^*?#?B'4M>\0^/]&DO;>+[`VFQQ1(%OK-8R[7[Y9G;[JX&:XW6O
MV[_'NG?\$[5_:;T.W\(Z'K#>-;/0I-8ELYKS09+>3Q%'I4NKP1B6*66U>%GN
M8P9`2&4;F&6;IHYQF>)P-&I3PU.+K.,86;=G)R4>9.-I:PE9)M+1N.J,(9N\
M)7J.G:$DMTK-))-J.NE[J[>O1,^(4?\`:_\`V&?']SX$3P-KUVGVX^9IECH\
MUWI^J'.-\3(I\EGX.25[9R.:^I_B3_P4G_;*^$U]IG@KQ7^RII'C/P]%I"C3
MO[5\+OJ4T$>T-Y3-$#(#&IV[2I^5<YP,#VCX5>*/B'\>?@=J^O>#/VB/AUXH
M\0G6C!I/BS2/`5RNE6VU87:W>S?4&DDD"F3YEN$`WH=ORG?Y7^R3\7OC=\1/
MA5X5_:%^(WB717UK6[2VU?2QH.A2VD=@I4$1$37,YG(8-EOE#`X*]<UDO&&+
MRS&SQ7(H.$E3J\KESRYM4U&=-+11DUSW>EM$U>:\J6=3C3K4HR=G)7T3?>7+
M)6;OJXV75W9\<6WPF^,?[9_QGFT']F7]FK6H-6\0W+27T0\/S66DV$TKG?*?
M,15AA0%1Y89W8J3QOPO]&?[%GP&OOV8?V5_`OP$U36GU&Y\+^'K>QN+R0DF5
MT0!CS[TO[*7Q?\$?'#X9P>,O#VB6.GZE"WV?7+&VA5#!<@<]!DHP^93Z'!Y!
M`]/K^C^'\!EU##RQF%J.I[>TW-V]Z^JT226[TMZGPW$.>8[-)4L-6IJG"@N6
M,%?39.[;;>RZA1117T!\V%%%%`!1110`5Y?^V7^SUH_[4G[-OBGX*ZU<W<*:
MMIS^3)92;9!*HW)UX(W`9!X/>O4**32:LQQE*,E);H_(?3/@;^W;\>_@;\,_
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M\)O"_P"T]XXLOAZLRQVGARSAM4U"UL8\D6,6IJ!<1PJ04!4B<(NT3#`-?;W_
M``5-N`WB[PE993<;.1U#G_II@Y]NE>':#?'1M>2_U"X9A(0J-$$\N5,Y(7YA
M@D@'\._%?R%XD8JKE'%N+HX)1A"\6H\L6KJ$=4FFE)-M\RLU=ZZGZ5E<7BLG
MH3K-RE:6K;NU?:]]49?Q0_9)^'GQB^)F@_$3XE6EMKEAX>T2[L-(\*ZUH\-Q
M9FZG*,]ZZR@AY!'$(D+#]VKN0<N2,KP;^PIX0\*Z+\1/!'A*\_L3PQ\0UG9O
M#]A:1QV^B7$NG_8YIK=5P`)<1.4(P'1F_P"6AKW6PUFPN;,K'?Q;A)M9I#@`
M`!N!G'0@8]ZNVDID<BW>.,<#<.57.3TW<G/'X=:_/,)F>9.,*"K/D224=+:2
M4UIWYM6]'J]=T=*H46^9K7O\K?EH>(_`7]B/Q!\+/%FD^//'GQTU7QIJ?ASP
M2_A;PJDVBVEC!IFGN]M)*I6W0-/(YLX`7D<A0F%`+$G%U+_@FA\#+WX)ZU\-
M_%_AJPU+Q)KTFH7FI_$ZXT:`:Z=3NKB2X^W0W&PM$\,LBF)`V%$2)R!7T[:M
M#`QD90X!P#M.>G\O6LGQ)XX\*6%S'::KJ,,8=AN'F#/)[C))'7\B3CC/T\\=
MCK/$?67"H^6RC9+W;M:1225Y2;2T;=VFP^J850Y>7[]=_7T^2/*/C+^R+\/?
MCOJ?A;4/C3>)XAM=%\$:SX<U32YK$+;ZO%J?V'SIFV',+JUBC)L(VERP(*@U
MS/C7]DOQ/XJ_9=T?]G?6OC?JS7>AWND7.F^+KC3;>2ZW:;?P7EF98V`CD93;
M1(YP-_+,N2:]^T_6]"U:SC33]0C9=G'S$X&,\D'.3TY.?RHU6WM+P*;P[]J'
MD;A@Y&,<CCKVS7D5,RS3V=+DQ"M2:E!6C:,DV[I-/K)W5K-6YKI*Q/#4))NW
MQ:/?7;S_`*^9\[V$WQ4\&:-<Z'\0OC#<>*M5-_(ZZA-HD&GO'"50>7Y4`"G#
M*6#'GYR,<"N"^"WPNM_@U\*/#_PGTS5+B_M?#VF1V<%W.@5Y%3^)@.`3GM7L
MGB?3?#\6JRWSRB[#(1&20`JXSGIR`=WX$9/>LBUT703F&[N2)-V?,5@^U>"O
M0\#@YZ?D:SI9C+V$D]I-2=HQ2<E=:**25N9Z)+<]C#>PH4TTG=*U^NMK_DCI
M/V6OC_JO[.GQ1A\1/YDFDWFVWUVR7)\R`G(D`[NF=R^N67C<:_3+1=:TOQ%I
M%KKVB7T=S9WMND]K<1-E9(V`*L#Z$$5^5^J^'=)?4Y(+%XYP5WA@6)&0/E(!
M`'KD<8XKZ0_X)Z_M%W7AK4D_9Z^(%T5@N29?#%Q*W".Q):WSZ,<LN>^Y>ZBO
MVOPEXWAA\0LGQ4K0F[TV^DG]GTET_O>I\GQ5E4<72^O4%[R7O+NN_P`NOEZ'
MV51117]('YR%%%%`!1110`4444`%%%%`!1110!\7?\%.[<W'Q/\`!R"9$+:>
MZ`[@""93SSV]Z\IT6*)X9(XKZ:)F#M'!O(1F4D_/M;!'RXZ#N.W'K?\`P4=L
MI-2^-_@ZW"J4%A&K9P#\TTIQD^H0_E7GVF>%)-#M)[X"*39<R2Q6T3@D`]CV
MY)X&.<X//%?Q-XNU/^,VQ:71Q_\`2(GZ?E$N;):$5V?_`*4RKI5HL,1U-`T-
MSL5Y!,@78S`Y[G.0`/O$8QGH*Z7P_K9,$#7=PI=CD*PQD*HY`+$@?4=?URXG
MO)V,2QA(Q`CR^9$VYMP&3C`((P,`\GVZF676K?0K&:>ZE5(H(Y/(_P!K"[MW
M^UT)]\'GU_.<'7<,2G9K;\SOC)I]A?BK\3M)\#^%KB^N+\*1$?D0DLP`&.`,
MDD\>O]/6?V4OV(M"U_P)-\2?VHO!EOJGB#Q)$CVND7T?_("LP<Q1)MP8YVSN
MD92""0F?E)/GG[#OP%U']HOQ[#^T-\2M,/\`PBWAVZ"^&K*9/EU;4(L*;M@>
M#%"X.SLTF2.(QN^ZNE?UEX8\#JC0>;9G!2G45H1:NE#O9][NWD_,^2XAS:4:
MGU:C+5?$T^O9>G7STZ'RY\0?^"9GAMS)?_!3XG:KX?E/*Z?J+&[MN.BALK*O
MU9G^E>+^+_@=^UU\#WN;CQ!\/;GQ%ID:ECJ&@3-?)T')B7$_;G]UCGK7Z%T$
M9ZU]1G7A9P?G*E+V/LIOK#3_`,E^'[DCS<+Q)F>'7+-J<?[VK^_?\3\G]5^)
M.EZY;3VT=J1>9\N9"0IA(S\I&=PP"!@@'U.,`;7@/1]#U`7-M%J33B%%9C&6
M&XXY`#8XPI`)(Z>^:_1#XJ?LY?`_XU0E?B7\--+U.?RRD>H-!Y=W$I[).FV1
M/^`L*^?_`!W_`,$N;*QFDU;X%_%:\TZ7YF33/$,?VF'."`JS)MD0<D982FOR
M///!'.<)1E_9=55%V?NR_'1_>CZ?#<59=7I>SJQ=-_>OPU_`\&@LQ'J/VV2)
M4N4>.%,@^61DJ^,YXSCKZ'TXQ_&>E74EG;>(-,O&CNM/8O'<1E][%64AU;KD
M$C!//?WK=^)?P3_:O^$\DS^/_A?>ZEIRELZIH2_;X&&W[Q\H>;&`1G+1K]1V
MPO"?Q&\.:W%"B3JFZY420Q&,*&'RMG`&.<9!YX-?D689!Q!PYB8SQ5&4)+;1
MK[G_`)>I[N'J4ZL55HR4TNSOIYKI\S[H_8Y_:0M?V@/APO\`:]PB^(]("P:S
M;@8,AQ\LX']U\'/HP8=,9]?K\S/`WQ$UK]GKXL6?Q2\$R-<6H8+J5FK82>%R
M-\3=AG@J>@8*>V*_1WP)XV\._$?PAI_C?PG?BYT_4K99K>4=<'JK#LP.01V(
M(K^MO#;C.'%>3J%9_P"T4TE+O)=)?/:7GY-'Y[Q#E4<!B%5HK]U/5>3ZQ^73
MR]#6HHHK](/G@HHHH`****`"BBB@`HHHH`^0OV_+077QV\'B`#S_`+)'M+8(
MP'G/(SG_`/5T-<N+"2*(R2L(RIR[J@.%SG@]<YP.G3\ZZ_\`;?N0/VBO"=NN
M%<Z>"6W`$J/M&1SVYY/N,5AS74)C'FKAF^ZSJ``>P]N<?2OXU\0\'AL5QQCJ
MM25G%JW;X8^GYGZADL6\IHKR?YLYK6]*96>>Z7?&J`A-P#%QR#D\$#'KWKC_
M`(?_``E\3_M:?&MOA+H-_<V7AO3-LWC#5K21U:&V.,0*=V!/,%V@C[JAWQP,
MR_%;Q!XC\;^)M/\`@Q\+[4ZCXBUZZ$%C"&PH."7DD8<K&B`.[=E4XR<*?N']
MF;]GOPM^S7\++3X?>'I/M-RS&YUK573$FHWC@>9,W7`X"JN<*BJHZ5ZWA;P!
M3SO-99CB(_[-3>E_M2[>G?RTZG/G6:++</RP?[R>WDOYOT7W]#L_#/AK0?!O
MAZR\)^%]*AL=.TVU2VL;.W3:D,2*%55'H``*O445_6:2BK+8_-VVV%%%%,`H
MHHH`*X'XG_LO_`;XPN]WX[^&VG7%[(,'5+:/[/=_]_HMKD>Q)'M7?45C7P^'
MQ5)TZT%*+W32:^YETZE2E/F@VGW6A\=_$S_@EMJ$/GZA\%?BM(-T>%TKQ-'N
M5^/NBXA`*K_O1.?>D_8Q'[3?[,GQ!;X.?&OX3ZC%X9UNX_T#6=,E%_96ET>`
MWF1#=&DG"GS%3!VGIN-?8M!`/6OEJ'!&18#,XX_`0=&HM^5^ZUU3B]+/RM;1
MK5'KU,^Q^(PDL-B&IQ?=:IK9I_YW[!1117UYXH4444`%%%%`!1110`4444`?
M%O[?FKRVG[2OA=8XD/E::I4R#@,6<9ZCD?X5Y7\5_BA'X3T"ZU6[E*N(VBC,
M.2JY(P!@9+G@``'DD9Y%=_\`\%!;^SL/VE-*U*\=-EMI:EQ*<KM`)`QG/4FE
M_82^`D_[0'CA?VD?'FE;/"FB7[-X.L)HP!J=ZC$-?..ACC;<(^H,@+#A%S_)
MN<\+XWB_Q-Q.%IZ4U.\WT27?]/.Q^E8;%4L!D-"O4V4=N[N[)>OY:GJW[`/[
M*>I_"G0)OC5\6-/*^./$ULH:VF(9M&L3ADM`?^>C'#RD=6PO(C!/TA117]1Y
M7EN$R?`4\'AH\L(*R_S?F]V?GN+Q5;&XB5:J[M_U9>2Z!1117><X4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!\:?M1_LT>*?VL/VR[7X?
M%I[+PEIVFVUUXMU2#Y7:`CBTC<<AYBNW(^ZJN?0'Z_\`#OA_1?">@V?ACPYI
MD-EI^GVR6]E:6Z!8X8D4*J*!T```JTD42.SI&H9OO,!R?K3J\C+,FPF65J]:
MFO?K3<I/UV7HE_F=F)QU;%4J=*7PP5DOS?JPHHHKUSC"BBB@`HHHH`****`"
..BBB@`HHHH`****`/_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
