<SEC-DOCUMENT>0001144204-19-034312.txt : 20191021
<SEC-HEADER>0001144204-19-034312.hdr.sgml : 20191021
<ACCEPTANCE-DATETIME>20190710162604
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-19-034312
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190710

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MONOGRAM ORTHOPAEDICS INC
		CENTRAL INDEX KEY:			0001769759
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				812349540
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		53 BRIDGE STREET UNIT 507
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201
		BUSINESS PHONE:		(718) 576-3205

	MAIL ADDRESS:	
		STREET 1:		53 BRIDGE STREET UNIT 507
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><IMG SRC="tv524855_img01.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">July 10, 2019</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Office of Electronics and Machinery</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Washington DC 20549</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 0.5in">Re: Monogram Orthopaedics, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 0.75in"><B>Amendment No. 1 to Offering Statement on Form 1-A
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 0.75in"><B>Filed May 31, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 0.75in"><B>File No. 024-10973</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">Dear Ms. Ravitz,</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">We acknowledge receipt of comments in your letter of June 19,
2019 regarding the Offering Statement of Monogram Orthopaedics, Inc. (the &ldquo;Company&rdquo;), which we have set out below,
together with our responses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><U>Amendment No. 1 to Form 1-A filed May 31, 2019</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><U>The Offering, page 5</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: left"></TD><TD STYLE="width: 0.5in; text-align: left">1.</TD><TD STYLE="text-align: left">Please reconcile the number of shares outstanding as disclosed
here and on page 12. Also please tell us the number of shares to be issued to the licensor per section 6.1 of exhibit 6.17 as
a result of this offering, and the amount to be paid for those additional shares.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 0.5in"><I>The Company has reconciled the number of shares
outstanding as disclosed on page 5 and on page 12 of the Offering Statement. The number of shares issuable to the licensor per
Section 6.1 of Exhibit 6.17 as of the date of this letter is 604,763 shares of common stock, for a purchase price of $0.00, all
of which have been issued as of the date of this letter. The Company has revised its disclosure on page 5 and page 12 of the offering
circular to reflect this issuance.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: left"><U>We rely on a licensing agreement..., page 9</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">2.</TD><TD STYLE="text-align: left">We note your disclosure on page 25 that you anticipate
being able to start delivering products within four years of the close of this offering. We also note section 13.2 of exhibit
6.17 that the licensor may give notice of default if the licensee &quot;fails to make the first First Commercial Sale of Licensed
Product(s) within four (4) years after the Effective Date...&quot; If your currently planned timetable would permit the licensor
to terminate the license, please revise your risk factor and offering circular Summary to clarify.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>The Company and Mount Sinai have entered into
an Amendment to the Exclusive Licensing Agreement that extends the &ldquo;First Commercial Sale&rdquo; milestone as set forth in
Section 3.3(b) of Exhibit 6.17 from four (4) years to seven (7) years. This Amendment is filed as Exhibit 6.24. This extension
increases the likelihood substantially that the Company will be able to meet this deadline. Nonetheless, the Company has revised
the Risk Factors and Summary section of the Offering Statement to disclose the risks to the Company in relation to a failure to
meet the &ldquo;First Commercial Sale&rdquo; deadline as set forth in Exhibits 6.17 and 6.24. </I></P>

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


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid; text-align: left"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; text-align: left"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: left"><U>Dilution, page 12</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">3.</TD><TD STYLE="text-align: left">We note on page 13 that you present net tangible book value
pre-financing of $1,184,254, which per your balance sheet on page F-2 equals your total assets outstanding as of December 31,
2018. Please revise your net tangible book value pre-financing calculation to equal your total tangible assets less your total
liabilities.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in; text-align: left"><I>The Company has revised the
net tangible book value pre-financing calculation in the Dilution section to equal the Company&rsquo;s total tangible assets less
its total liabilities.</I></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">4.</TD><TD STYLE="text-align: left">Please revise your disclosures here and throughout the
filing to present your per share amounts rounded to the nearest two decimal places so as to not imply</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">greater precision than exists.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in; text-align: left"><I>The Company has revised its
disclosure throughout the Offering Statement as requested.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: left"><U>Provisions of Note in Our Subscription Agreement
and Investors' Rights Agreement, page 16</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">5.</TD><TD STYLE="text-align: left">Please revise your disclosure on page 16 to state, if true,
that your investors&rsquo; rights agreement includes forum selection provisions that require any claims against the company based
on the agreement and not arising under the federal securities laws to be brought in a court of competent jurisdiction in the State
of New York.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in; text-align: left"><I>The Company has revised its
disclosure on page 16 to clarify that the Investors&rsquo; Rights Agreement includes the aforementioned forum selection provisions.
</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: left"><U>Use of Proceeds to Issuer, page 17</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">6.</TD><TD STYLE="text-align: left">Please show us how your disclosure in response to prior
comment 4 is reconcilable to the information about amounts payable to related parties on page F-18 and in exhibit 6.1 and to your
disclosure on page 30 regarding the note issued to Mr. Lennox. Also (1) show us how the amount you disclose in this section as
owed to your CEO as of the date of your offering circular is consistent with your disclosure regarding your CEO's salary, and
(2) ensure that appropriate sections of your document include required disclosure regarding your agreements with your directors
and executive officers like exhibits 6.1 and 6.2; see for example Form 1-A Part II Item 11(d).</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in; text-align: left"><I>The Company has revised its
disclosure in the &ldquo;Use of Proceeds&rdquo; section and throughout the Offering Statement to reconcile amounts payable to related
parties. In particular, the Company expanded its description of the deferred salary owed to Benjamin Sexson, as well as the promissory
note payable to Mr. Sexson filed as Exhibit 6.14 and referenced on F-18. Additionally, the Company has included with this filing
the Warrant agreement referenced on F-18 as Exhibit 6.23. Finally, the Company has amended the disclosure in the &ldquo;Compensation
of Directors and Executive Officers&rdquo; to comply with Item 11(d) of Form 1-A Part II.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: left"><U>Our Advantage, page 20</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">7.</TD><TD STYLE="text-align: left">We note your response to prior comment 6. Please file as
exhibits the consent of the orthopaedic research center and the medical research center mentioned in the sixth and seventh paragraphs
of this section.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>The Company has amended its disclosure and no
longer references any commissioned studies by the Company.</I></P>

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


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid; text-align: left"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; text-align: left"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: left"><U>Security Ownership..., page 29</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">8.</TD><TD STYLE="text-align: left">Please tell us why you deleted the disclosure from this
table regarding some beneficial owners. We note for example that you disclose on page 30 that one of those owners holds over 10%
of your voting securities and is affiliated with one of your directors.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>In the Company&rsquo;s initial Offering Circular
on Form 1-A filed with the Commission on March 13, 2019, the Company included Benjamin Sexson, Doug Unis, Sulaiman Somani, Matthew
Dicicco, Anthony Costa, and the Icahn School of Medicine at Mount Sinai as 10% or greater holders of the Company&rsquo;s common
stock. </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>In the Company&rsquo;s 1-A/A filed on May 3, 2019,
the Company only included Benjamin Sexson and Doug Unis as 10% or greater holders of the Company&rsquo;s common stock. As a result
of share grants by the Company to Benjamin Sexson and Doug Unis on made April 30, 2019, Sulaiman Somani, Matthew Dicicco, Anthony
Costa&rsquo;s proportionate holdings were reduced below 10% of the outstanding shares of common stock of the Company. The Company&rsquo;s
removal the Icahn School of Medicine at Mount Sinai, however, was made in error. The Company has revised the &ldquo;Security Ownership&rdquo;
section of the Offering Statement to include Icahn School of Medicine at Mount Sinai as an owner of 10% or more of the Company&rsquo;s
outstanding common stock. </I></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">9.</TD><TD STYLE="text-align: left">Please address the preemptive rights in exhibit 6.14.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>The Company has amended the disclosure in &ldquo;Security
Ownership of Management and Certain Securityholders&rdquo; to address the preemptive rights disclosed in Exhibit 6.14.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><U>Securities Being Offered, page 31</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">10.</TD><TD STYLE="text-align: left">Please reconcile the information in this section with the
&quot;Board Composition&quot; section of Exhibit 2.1 Article III, and Article V.B.2.3. Also highlight the disparate voting rights
on your offering circular cover and add appropriate risk factors.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>The Company has revised the disclosure in the
&ldquo;Securities Being Offered&rdquo;, Offering Cover Page, and &ldquo;Risk Factors&rdquo; sections of the Offering Statement
to align with the provisions of Exhibit 2.1, to highlight the disparate voting rights between holders of our common and preferred
stock, and to include appropriate risk factors.</I></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">11.</TD><TD STYLE="text-align: left">Please reconcile the information in this section with the
&quot;Investor Perks&quot; mentioned in exhibit 13.1.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in; text-align: left"><I>The Company has revised the
disclosure in the &ldquo;Securities Being Offered&rdquo; section to include a description of the &ldquo;Investor Perks&rdquo; mentioned
in Exhibit 13.1.</I></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">12.</TD><TD STYLE="text-align: left">We note that the forum selection provision in Article X
of Exhibit 2.1 states that the provision does not apply to any action arising under the Federal Securities Laws. Please include
disclosure regarding the scope of this provision and disclosure that your exclusive forum provision does not apply to actions
arising under the federal securities laws. Also, disclose any appropriate risk factors.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in; text-align: left"><I>The Company has revised the
disclosure in the &ldquo;Securities Being Offered&rdquo; section to include a description of the scope of Article X of Exhibit
2.1 and disclose that the exclusive forum provision does not apply to actions arising under the federal securities laws. The Company
has also revised the &ldquo;Risk Factors&rdquo; section to include a related risk factor.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: left"><U>Notes to Financial Statements, page F-6</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">13.</TD><TD STYLE="text-align: left">We note from page 5 and throughout the filing that you
effected a 25-for-1 reverse stock split on May 29, 2019. Please explain to us how you considered the guidance in paragraph ASC
260-10-55-12 and SAB Topic 4C related to this reverse stock-split. In this regard, also explain to us how your independent auditor
considered referencing and dual-dating its audit opinion on page F-1 in consideration of AICPA AU 530.05.</TD>
</TR></TABLE>

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


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid; text-align: left"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; text-align: left"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>The Company has revised the financial statements
to reflect the proper retrospective treatment to the reverse stock split on May 29, 2019, pursuant to the guidance in SAB Topic
4C, which requires retrospective adjustment when a &ldquo;capital structure change to a stock dividend, stock split or reverse
split occurs after the date of the latest reported balance sheet but before the release of the financial statements or the effective
date of the registration statement, whichever is later.&rdquo; The Company&rsquo;s auditors have also provided us with a revised
audit opinion to reflect this adjustment.</I></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">14.</TD><TD STYLE="text-align: left">We note your response to prior comment 8. Please tell us
which exhibit represents (1) the Purchase Agreement mentioned on page 20 of exhibit 6.17, and (2) the warrants mentioned on page
F-18. Also, please tell us which of the notes mentioned on page F-12 are not filed as exhibits, and clarify the basis for omitting
the notes; in this regard, please see Form 1-A Item 17(3).</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>The Company has entered into an Amendment to the
Exclusive License Agreement that amends Section 6.3 of Exhibit 6.17 so that the entry into a &ldquo;Purchase Agreement&rdquo; must
occur within ninety (90) days of the issuance of a share certificate to Mount Sinai, as opposed to concurrently at the time of
the initial issuance. This Amendment is filed as Exhibit 6.24. The Company issued the share certificate to Mount Sinai on June
24, 2019, and therefore is still within the 90-day window to enter into a Purchase Agreement. The Company and Mount Sinai have
not yet entered into a separate Purchase Agreement, and are still negotiating the terms of such an agreement. As such, there is
currently no &ldquo;Purchase Agreement&rdquo; that can be submitted to the SEC. </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>Exhibit 6.23 represents the warrants mentioned
on page F-18.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>For convenience, the table on F-12 is reproduced
below, with additional notes for clarity. Please see the columns marked &ldquo;SEC Note: Party*&rdquo; and &ldquo;SEC Note: Filing
Status*&rdquo; for responses to the requested information</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.8pt; text-indent: 40.8pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Description</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">SEC Note: Filing Status*</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal ($)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Maturity<BR>
Date</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Interest<BR>
Rate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Valuation<BR>
Cap</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 4%; text-align: left">1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: left">Secured term note</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: left">Exhibit 6.9</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">450,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">10/19/2019</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">6</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">6,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Secured term note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 6.9</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">350,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">10/19/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Related party note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 6.4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/31/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Related party note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 6.6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/31/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">5</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Related party note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 6.22</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/31/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Related party note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 6.5</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/31/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">7</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Related party note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 6.7</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1/19/2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">8</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Secured term note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 3.2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/31/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">9</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Secured term note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 3.2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/31/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">10</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Related party note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 6.8</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">5/30/2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">11</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Secured term note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 3.3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">7/12/2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">12</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Secured term note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 6.24</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">7/13/2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">13</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Unsecured term note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 3.4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">9/18/2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">14</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Unsecured term note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 3.5</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">11/9/2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">15</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">ZB Capital Partners</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 3.6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">700,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/31/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">16</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">ZB Capital Partners</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 3.7</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">225,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/31/2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">17</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Unsecured term note</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Exhibit 3.8</TD><TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12/24/2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid; text-align: left"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; text-align: left"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"><I>Notes 8, 9, 11, and 13 through
17 are held by parties that are unrelated to the Company (as defined in Item 13 of Form 1-A). Nonetheless, the Company has filed
as Exhibits the Forms of these Notes as pursuant to Item 17(3) of Form 1-A - &ldquo;Instruments defining the rights of securityholders&rdquo;.
Please note that the Maturity Date for Note 8 (filed as Exhibit 3.2) was extended to December 31, 2019 by a separate, mutual
agreement between the Company and the noteholders dated November 14, 2018.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Thank you again for the opportunity to respond to your questions
to the Offering Statement of Monogram Orthopaedics, Inc. If you have additional questions or comments, please contact me at andrew@crowdchecklaw.com.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 43%; text-align: left"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD>
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><I>/s/ Andrew Stephenson</I></FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Andrew Stephenson</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Partner</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">CrowdCheck Law LLP</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">cc: Benjamin Sexson</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Monogram Orthopaedics, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">53 Bridge Street, Unit 507</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Brooklyn, New York, 11251</P>

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


<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt; text-align: left">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>tv524855_img01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tv524855_img01.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    9   _^X #D%D
M;V)E &3      ?_; (0  0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0(" @(" @(" @(" P,# P,# P,# P$! 0$! 0$" 0$"
M @(! @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P,#_\  $0@ 4 "\ P$1  (1 0,1 ?_$ *@  0 !! ,! 0$
M       (!@<)"@0%"P,! @$!  $$ P$               8$!0<( 0(#"1
M  8" @$# @0%! $%     0(#! 4&!P@ $0DA$A,4%3%!(@I1,A87&6%Q(QA"
MD:'!)"41  $"!0($ @@$!00# 0    $" P 1! 4&(0<Q05$281-Q@9$B0A05
M"*&Q,E+PP=$C%N%B<B2",T.R_]H # ,!  (1 Q$ /P#?PXA#B$.(0XA#B$.(
M0XA#B$.(2,0LWGWWUS\?&'7.7MA;6,8U=JK1M+I4*5&1ON1K$1'Y2P-/@3K(
MG=G3*(&=.U3),F*0^]=4@"4#7"SV>X7NK^5H$S2.?*7B?RZ\HMMPN%%;:3YN
ML.LN'.-)?,'F]\N'DKR7(XHT1H]WQ36'"ZI8^CZ^P![9DP(A8XI(R.0\M/HX
MR5?[2-VH=K]F:$'O]9P*!N988Q#%L=ITU5_<[ZB4RF8T_P#$:^V<8_J<FO5[
M=#%G013 RG(ZCT_TBE7/[?3S99S4"[Y7E*Z>RR*1G"ILL;(*V&W%,)Q6^%XM
M'!:&S<YU%1$"%<F(0>P]/SJ4YSB=O'RU&VHM 2X<HIE8IDE;_?=6$D]3*.%*
MZ<?N&_&'%A=<?26;PHL"4';X^$,AM<Y4Q@S9E.X44GL;+C,.R1*?8_*)H;X0
M#W")@[[YU5><$OZT4;R"E]PR!.FIZ3EKZ/3'*+9E%F_O-J[DCC+60X\IQEG\
M97[GJ'R'9('!_D,@J_C2U2;QK7H?86JLG$/0GDX94K,K/*E5=*+'H3MRZ-[3
MR+4YHU%0>ETFI0$P1K(MO%4C:ZVR*+M/S&A5_P")'ZI<QQB0VC,4.K-)<AVO
M"4C+3U](W &+UI(M6[YBY0>,WB"+MF[:+)NFCMJY1(NW=-7*)CHKMG"*A3IJ
M%$2G*(" B AS&QF%%M0(6@]I!T((\(G(5WI2L:I(F#X1R^<0AQ"'$(<0AQ"'
M$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"+=Y;RE3,(8PO^7LB2J,%1,:U*=NUN
MEEC$ &4#7H]>3?'2(<Z8+.U4F_QH)]@*JQRD#U,'.U*AVL?^60DJ<*I)',](
M\ZE]+#/FN'M:2-2> CSEZ15ME_W'WDPG):QSDS2</P!%9.3>>T9"&U\U[8RA
MD(*JUMB8"Q[K(%R5 " 8W7UDFHNY5$S=N)2YQJ'*#;VQ)+)2JX.:>/<1H3Z#
M_2,2-?.YA>5!,Q;T\3R(!U$_&-NK-^S'CA\ >N%6QS6:@VA)&78*+T;#E 38
MR.7\ORL>B+5[=+Q/OC)*?2N'A *[G)57X2',*35,XE! ,;4UMOV9W%=05*4>
M*EG]*1_'(>LQ.ZBLM.,4B6!*8X)YF-<C(?[M#<J7GW#C%^NNO5(JP*J@PBK>
MI>KY/_ 8XBB:0F6%@I[ [@B?\P(LR$$?PY/*3;"A\F=:\KS/]LOREPB)U.=U
M??*D;2$=%<(FGJ)^[%IMBET*UNU@=3&S=5%3XLIX1<RELKZ+A),3%3G,?SB@
MV)D@Z,7H%V3Y][#& #) 3LX6BZ[8O4S)J;2Z'7$F7:YH1/2:?'EPX17V[.V7
MWTL7-HMMD'5' D#@KP/YQK@;TY"/OUE+9'?I6FTG7S%DA--:[B^J1E<:1\AD
M9XQ=ECV*<Q]H313F[U*QGR/)J7$ITQ<B"/JFB)PH*7<%K'<QM^T%I;=N.0NI
M4\^I'O"F2.V95^T*F3X]L3:CVFN5ZVXN.\U]>:MF/M.>32H<]PU)/</<'Q%)
M"1Z5>,;'G[8GR@6.\HO?'=F^QNYF7J=>>6O6FQ3+LSA^O3H0I3VG$Z[M<PKO
M?Z6;*!(0_N,H=./!PAV":"(!<]QL;;I:A=ZMY!IU*'F$<.[FKT$Z'QB$X1=G
M'&DVVO<3YP$TI/$#DD_F/"-R@! 0[ >P_CS%DPKWAP,9")F8_>(XAQ"'$(<0
MAQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0C6U_=)9RF,8^.!ECB!>N&+K83,M/
MH$V=NH*0NZ?76DI?)V-5$/U&0D'E=9)*%_ Z9C%'\?6;[?6U-=D 6H30TGN/
M\>N(=F]<NFLWE-_^UU4DCKZ^4?U^W%P;5=8O%BKL;9F9&DWG1]?\XW.9(A\<
MA_;S'PS,!48\3B4BAVK2"KCM\D7W>P3R)Q#T-WSIG=4NZ9"NWS)8;(0/ DC\
M>'LCG%*9FWV--6-%+253\ "?5S_"-#[<[:R_[L[,Y8V4R0_<N92_V5ZM7(E9
MRLLSIM"8K*M:53(A-8YB-8Z!@2HD$J8%*JX%140]ZAA'.5GM%+9[336\)"*Q
M* L]HGW@_N(X:G@=8Q?=;H]<ZY;SG_H"I))T]@B, F  [[].7-7N*4@_K0)D
M#73PZ^J+>2 4 \%\#R$NIX#UQ);5S7:7V%O1V2ZRD+CRK@G*9!M9Q*W1CHH@
M'6&,:.E>D2RLH@B<""8?:BD!EC_I* &P'O[O+2;3XLI5O'GYK5CRZ-E(*UI6
ML$!PH$S)(Y&-D/MJV&K=[,P0JX]U/M_0*\ZO?40A"FD$3;2I1$RH].0CMMKL
MW1&4+3&4C'C<D/A+%#8U9QU",_<DQ> U[:OK0JD'0*KRADND3F[."'ZA'WJG
MY0?;YMG<,/LO^89@HUFX]X2EZHJ%$$MH7W%#:1R[0HA0'A%^^YS=ZW9E?DX+
M@J!1[66)2V:6G2"/-<24A;B^LR@=I/4D1Q-)<V3>N.W^LN;X!XX9/L=YGH4H
MZ,W6,E]7 /IUK"6F+7Z,4BC26K4FZ;*D-V0Q%! ?3F=K[0MUUDJJ)(G)GW?]
MQF3/PUZQK%:*I5+=D5D_[BU"8Z<I>R/8#2.FHF11(0,DH4JB1@_E,FH4#D,'
MX^@E, \U;[0CW!IVZ>R,_A06D+3P(!_"/IQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"
M'$(<0AQ"'$(<0AQ"-3/]W!69%_J+K#;&Y%S1U8V*D8V2,0IQ03/9\>3Q6"BY
MB]E*/RPYBD[]!$1YDK:YU";VZE6A6W(>K2(+GK"U6]ET:I;<*CZ#$X?%<DWV
M \!>,:!2'2KB:E]6,T87!-JH3ZIK=&A;_4SL@%(YA36&052,0!$#?&H4>@[Y
M8<@5\KF;CS@]SYA"_4E0/\<HN%H:^:Q1#"".[R%H/I*3_6/.;PS$XN0R$PJN
M?6UFBZH9=2MS#^#D B).I3C9S] =U*).&#WYHYF\1,B[3]A5$0[.'J02CD#<
MJYYQ;\*5?]NVVGLB0A2_+=*NU:0/TI[4J),M92 TXQ1[04NW5RW";LFZ"WV<
M6<"&0XT$DMJ)D7%]RDR3IRF=>$3#S%X]KC$Y/I\)AD[FR8TR H@$;97[A%^%
M.(1L5Y(KV9\T221<1?T/;EFY3*4'78)  *==ZT[<_>+:7\!KW]P?+H<SM"EA
MX&0[U3(3Y8)!*0?U=P3(1MKNE]AUZH]PK?3;2ARY;<WP-+9J)DH T*P2 9*E
MPE,=3%P-L;S4]:L516H>&7 HR4DP2?Y6L20E"3<-I!))19J^<)&]):U"'O6)
MV/TT<!$0Z*IR'_;WB64;VYTO[AL_;)MS#RA;67)^6XD*T642([>R<B)ZF)Q]
MS6>XW]O^W#7VT[:.-INE0RDW1YJ7F-DHU0%B2N[OE,&0D(Q1@'0=    !T !
M_ .?1179,E "023(<!/D/ <H^6Z0H)!<4I;TI$GG+GZ3SBK:#!/+1?J%68Y-
M560L=YI\"P30*8ZYWDQ8XV/:E1(7]1U!7<E]H!^(\IJM26[?4O*,DH9)/X\(
M]Z8$UC0''OCV:XAH9A%1C YQ4.QCV3(YQ_$YVK5) YA]1]3&3[YJBX>YQ2AP
M*B?QC8=M)0TA)XA(_*.PYTCO#B$.(0XA#B$.(0XA#B$.(0XA#B$.(0XA#B$.
M(0XA&-#RZ:=.=Z-!\[8,@FA7>02PS;(.)BF'VB;)F/7']05Q@4_7Z?ZA307B
MS>H![7H]CUWR\X[<A9[ZS5N&3.D_0>,6B^4?SUF=8_\ KK+V_P!(UBOVOGD'
MB\2W2_>.W-,@I437^X2%RP<>Q*#'%C\IHHI15^Q2\0>?&9E-3Q(I-VR1,)#'
M?-7*/M%90@#D#<&S&I;1?Z&2FU2"@!P'68XR]$0C"+JFF=5:ZPR/PS//A+PG
M_2.O\\'@FRO$97OVZ6F=$D,B8]R&_?7'-.&Z?'F>6^@W%T)G5CN=.KK-,[JQ
M4^QKBH^>M69%'D<\.J8J1VY_^*JP7.6V4"W5KJ6WF]$+6)IEPD1UD2..L<93
MB3ZGS76Y&BM5 :^/K_E&"77C?6<P5CJXXPR!&2$K+UF)<DQDE*IJLWT3+^\$
M$ZK:&[[XGB4''JJ"X1$Y?>D5(Z AT9/VZZ[S_:/C^=YE397C 9IZ%YP?-MZ+
M2^E9]_@4A)(X&1E&YNP7WO7G;S;BOQ++UU#U104Z_IFO:6' D]J3-*BON/#5
M,HC/BO!FSFXUYM*^'<4Y)SO=7:<W<;:YI=<D9Q-JD@DM)23Z2DTT_M; GQD$
MC=$ZQ5%3>Q% ISB4@[;T5+CF!6JAQJD+=+:J2F2TTA*@4IX:$"6OCZHT9O5T
MR/.KY591>/,?O5Q6JI=6I)[M3("9Y &?XQ8-=!=JNNT=H+M'C1=9J\9ND56S
MIFZ;JG1<-';=<B:S9TW63,11,Y0.F<! 0 0$.2%FI;J$A=.>Y)X>,1I:%-J*
M'!)8XCI&;W]OOI;*[<>0W&UGDXARYQ)K([99LR')F0]T6I.PJYQQE5%USE%!
M1Y.7!))R* #[S,H]P;H #OD/SN[?3+(XP9"HJ!V@3X#F?S$23$[:Y675+CJ?
M["!.?(^'KCTY  0_$>Q[$>_]Q[YKZD$)$S/2,TQ^\YA#B$.(0XA#B$.(0XA#
MB$.(0XA#B$.(0XA#B$.(0XA#UZ$ 'KO\_P PXD"02 2(#2--/SK^"F]7"\V'
M?/0ZO2#G(#E\2XYHPU4#*QUFD+/''^M_O!B,6JC=<]J471*O)QC<2.EG)/JV
M?N6,HD.3<.RQAEGZ%?-:0Z)5SF> ,])1C[),9=>=^K6J271[Q' ::S'.>D6,
M\>/[H6VXJAXO"GD2HUNO8U@Z4 &>*7&D+DM@FQ_^J+?*^/I(\6><EF'L BS]
MDH@^4]@BLU56$QS5]]VZ14?]_'%!Q"Q,HF-/^)'\XI[7F3U*!27H%*IR"@-?
M7.8,9OS^3CP'[ D2NEYR?J3.3:YF[A5?,N(&#&X(K!_S)E=A=*&$D=5!3\>C
MJ% WY_AR%NV3+[>0UY=4EOH"H@>R<20W'&JE/S51Y/:#Q4D:D\)Z:Q;/,/[A
M?Q*ZFTY[#8 DD<ORC8JOV?'6N6-RU.K+OB@8J7UUHD8BJ5",9]A^I9$'BH%'
MLB1_PY5T>%Y1=70*I"T)/QN$_P!?PCRJ<ILE&V%H=2X>[1*0---!PX=(T])J
MC;'^<S?6\736_6*F8PD,@RK!Y=@I+608XPQY%IF*U7O^6KFNF5B]N$FW'YWZ
MC9!NZEG)/:W:&.(F'*;;]%A-K2S6O^;5)2>P:&9YB0UZ ?C$ ?8?RBO4JC9\
MMDD=Q EZ#KIR,X]#/QM>/7$OC?UP@L(8W,,[8GS@EERMDEZQ29S62;ZX:IH/
M9ATF J*,86/2+]+%L?>8C-F4 [,H94Y\'7R\U-^K%5-0HRG(#H.,OZQE6UVQ
MJVTB:=.JQQ/,_P ?QTC()RT@2$HND.<PAQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'
M$(<0AQ"'$(<0AQ"'\?\ 7_U#_8?R'A7O"1A\/;RC&?N3XAM!-YW+FQ9PP;$I
M9%72%(<K8\=N,?9&5#_Q/*3M?^!O9#IC_+]T;O?8 =%Z#E[M>17BSD?).J[1
MR)F/](LUSLELN2/^T@ CXAH1_6,*-M_:-ZOR4FJYH^V&>ZE$J.#G3B9VL8^N
M2K=L(@)6Z4HBSK"AQ)Z_\BB9S#WZAR7L;H7E"/+>82M?[BH_ZQ&7<'MSJ>UJ
MH6$]")CV:1??"/[5[Q[8[D6DKE6TYSV 7:."./M%HM452*FY*0I.VKV)H47%
M2[ENH<#=E&2#LIO:(CT(C;JW<7(:T>4)--C7KX16T>$6:G5YBR75^SUZ1L'X
M>P3AO7RC16-,'8TIV*:'"D(2/K%&@V,!&E.0A2"Z=E9))JR4BJ4O_(Z<G5<*
MCZG.81[Y#*BHJ*MTOU+BUNGJ?Y1+&*=BF1V,(2A/@/XG%V/X?Z!USQCVAQ"'
M$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(A]([%6AKO'!:JIU^$&
MJR^M,UG!2TBX?!8D9R,R$E34(1-L!_MAHE9JK\QCB7Y@4] 'V\N:;8%V?ZB%
MF8?[#^?^D1E=^6WE8QTHFRNG[^_]IZ1, >P#^(@'_ORUDR$^D2<2GKPB$F\>
MS=MU6Q= WVJ0$#:)"8NC*KJL+$K((LD6SJ*E9 SE,T8JBN*Y5&)2@ C[?:8?
MS .8HW;W#J=N+#37.DI_FG*BI2@I_:DD3E+I.,T[ [1-[SY8YBU36&C+-MJ*
MDKD#W>5J 0?")@5N34FJ_ 2[A,B+B6A(J4612,84TE9!@@[423]PB84TSJB
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MB$8M4MD-L]F[SDF,TTA\+4W#F)KA+XWD\Z9T;VVSADG(-<.FE:8W&=+IC^+
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MB2O#<\A8%S=BK8JO4$JI4%,A%Q78!DYFFLEE3%;%F)B"<.?H04[*9Z1,OXF
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:SR^8]7;P]DHE?TH?XW]*^+Y?M]<I^V<?_]D!

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