<SEC-DOCUMENT>0001161697-21-000171.txt : 20210323
<SEC-HEADER>0001161697-21-000171.hdr.sgml : 20210323
<ACCEPTANCE-DATETIME>20210323160258
ACCESSION NUMBER:		0001161697-21-000171
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210323
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210323
DATE AS OF CHANGE:		20210323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REPRO MED SYSTEMS INC
		CENTRAL INDEX KEY:			0000704440
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				133044880
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39086
		FILM NUMBER:		21764803

	BUSINESS ADDRESS:	
		STREET 1:		24 CARPENTER RD
		CITY:			CHESTER
		STATE:			NY
		ZIP:			10918
		BUSINESS PHONE:		845-469-2042

	MAIL ADDRESS:	
		STREET 1:		24 CARPENTER RD
		CITY:			CHESTER
		STATE:			NY
		ZIP:			10918
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form_8-k.htm
<DESCRIPTION>FORM 8-K CURRENT REPORT FOR 03-23-2021
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<P ALIGN="CENTER" STYLE="margin: 0"><B>UNITED STATES</B></P>

<P ALIGN="CENTER" STYLE="margin: 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P ALIGN="CENTER" STYLE="margin: 0"><B>Washington, DC 20549</B></P>

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

<P ALIGN="CENTER" STYLE="margin: 0; font-size: 12pt"><B>FORM 8-K</B></P>

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

<P ALIGN="CENTER" STYLE="margin: 0; font-size: 12pt"><B>CURRENT REPORT</B></P>

<P ALIGN="CENTER" STYLE="margin: 0; font-size: 12pt"><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>

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

<P ALIGN="CENTER" STYLE="margin: 0">Date of Report (Date of earliest event reported)&nbsp;&nbsp;&nbsp;<B><U>March 23, 2021</U></B></P>

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

<P ALIGN="CENTER" STYLE="margin: 0; font-size: 14pt"><B><U>REPRO MED SYSTEMS, INC.</U></B></P>

<P ALIGN="CENTER" STYLE="margin: 0">(Exact name of registrant as specified in its charter)</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="margin-top: 0; font-size: 10pt">
  <TR>
    <TD VALIGN="TOP" WIDTH="240" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0"><B><U>New York</U></B></P> </TD>
    <TD VALIGN="TOP" WIDTH="240" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0"><B><U>0-12305</U></B></P> </TD>
    <TD VALIGN="TOP" WIDTH="240" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0"><B><U>13-3044880</U></B></P> </TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="240" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0">(State or other jurisdiction<BR> of incorporation)</P> </TD>
    <TD VALIGN="TOP" WIDTH="240" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0">(Commission<BR> File Number)</P> </TD>
    <TD VALIGN="TOP" WIDTH="240" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0">(IRS Employer<BR> Identification No.)</P> </TD></TR>
  </TABLE>

<P ALIGN="CENTER" STYLE="margin: 0"><BR></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="margin-top: 0; font-size: 10pt">
  <TR>
    <TD VALIGN="TOP" WIDTH="288" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0"><B><U>24 Carpenter Road, Chester, New York</U></B></P> </TD>
    <TD VALIGN="TOP" WIDTH="96" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0"><B><U>10918</U></B></P> </TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="288" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0">(Address of principal executive offices)</P> </TD>
    <TD VALIGN="TOP" WIDTH="96" STYLE="margin-top: 0">
        <P ALIGN="CENTER" STYLE="margin: 0">(Zip Code)</P> </TD></TR>
  </TABLE>

<P ALIGN="CENTER" STYLE="margin: 0"><BR></P>

<P ALIGN="CENTER" STYLE="margin: 0">Registrant&rsquo;s telephone number, including area code&nbsp;&nbsp;&nbsp;<B><U>(845) 469-2042</U></B></P>

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

<P ALIGN="CENTER" STYLE="margin: 0"><U>not applicable</U></P>

<P ALIGN="CENTER" STYLE="margin: 0">(Former name or former address, if changed since last report)</P>

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

<P STYLE="margin: 0; text-align: justify">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>

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

<P STYLE="margin: 0; text-align: justify">[ &nbsp;] &nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</P>

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

<P STYLE="margin: 0; text-align: justify">[ &nbsp;] &nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

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

<P STYLE="margin: 0; text-align: justify">[ &nbsp;] &nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))</P>

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

<P STYLE="margin: 0; text-align: justify">[ &nbsp;] &nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</P>

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

<P STYLE="margin: 0; text-align: justify">Securities registered pursuant to Section 12(b) of the Act:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0px; font-size: 10pt">
  <TR HEIGHT="0" STYLE="font-size: 1pt">
    <TD STYLE="width: 2.5in"></TD>
    <TD STYLE="width: 2.5in"></TD>
    <TD STYLE="width: 2.5in"></TD></TR>
  <TR>
    <TD STYLE="margin-top: 0px; vertical-align: top">
        <P STYLE="margin: 0px"><U>Title of each class</U></P> </TD>
    <TD STYLE="margin-top: 0px; vertical-align: top">
        <P STYLE="margin: 0px"><U>Trading symbol(s)</U></P> </TD>
    <TD STYLE="margin-top: 0px; vertical-align: top">
        <P STYLE="margin: 0px"><U>Name of each exchange on which registered</U></P> </TD></TR>
  <TR>
    <TD STYLE="margin-top: 0px; vertical-align: top">
        <P STYLE="margin: 0px">common stock, $0.01 par value</P> </TD>
    <TD STYLE="margin-top: 0px; vertical-align: top">
        <P STYLE="margin: 0px">KRMD</P> </TD>
    <TD STYLE="margin-top: 0px; vertical-align: top">
        <P STYLE="margin: 0px">The Nasdaq Stock Market</P> </TD></TR>
  </TABLE>

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

<P STYLE="margin: 0; text-align: justify">Indicate by check mark whether the registrant is an emerging growth company as defined in as
defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(&sect;240.12b-2 of this chapter).</P>

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

<P STYLE="margin: 0 0 0 5.3in; text-align: justify">Emerging growth company &nbsp;[_]</P>

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

<P STYLE="margin: 0; text-align: justify">If an emerging growth company, indicate by check mark if the registrant has elected not to use
the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a)
of the Exchange Act. &nbsp;[_]</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2">

<P STYLE="page-break-before: always"></P><PAGE><BR>

<P STYLE="margin: 0"><B>ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; text-align: justify">On March 23, 2021, Repro Med Systems, Inc. dba KORU Medical Systems (&ldquo;KORU&rdquo;)
issued a press release announcing its operating and financial results for the three and twelve months ended December 31, 2020 and first
quarter 2021 guidance. A related conference will be held on March 23, 2021 at 4:30 am Eastern Time.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; text-align: justify">KORU is making reference to non-GAAP financial information in both the press release and
the conference call. A reconciliation of GAAP to non-GAAP results is provided in the attached Exhibit 99.1 press release.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; text-align: justify">The information in Item&nbsp;2.02 of this Current Report on Form 8-K, including Exhibit
99.1, is furnished and shall not be deemed &ldquo;filed&rdquo; for the purposes of Section&nbsp;18 of the Securities Exchange Act
of 1934, as amended.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0"><B>ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0; text-align: justify">(d) Exhibits.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 720px">
  <TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 96"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exhibit No.</U></FONT></TD>
    <TD STYLE="width: 624"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Description</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex_99-1.htm">Press release dated March 23, 2021</A></FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P ALIGN="CENTER" STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>SIGNATURES</B></FONT></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</FONT></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="margin-top: 0; font-size: 10pt">
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        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P> </TD>
    <TD VALIGN="TOP" WIDTH="360" COLSPAN="2" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">REPRO MED SYSTEMS, INC.<BR> (Registrant)</FONT></P> </TD></TR>
  <TR>
    <TD VALIGN="TOP" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P> </TD>
    <TD VALIGN="TOP" WIDTH="24" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P> </TD>
    <TD VALIGN="TOP" WIDTH="336" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P> </TD></TR>
  <TR>
    <TD VALIGN="TOP" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date: &nbsp;<U>March 23, 2021</U></FONT></P> </TD>
    <TD VALIGN="TOP" WIDTH="24" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></P> </TD>
    <TD VALIGN="TOP" WIDTH="336" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>/s/ Karen Fisher</U></FONT></P> </TD></TR>
  <TR>
    <TD VALIGN="TOP" COLSPAN="2" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P> </TD>
    <TD VALIGN="TOP" WIDTH="336" STYLE="margin-top: 0">
        <P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Karen Fisher<BR> Chief Financial Officer</FONT></P> </TD></TR>
  </TABLE>

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

<P ALIGN="CENTER" STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">- 2 -</FONT></P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2">
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex_99-1.htm
<DESCRIPTION>PRESS RELEASE DATED MARCH 23, 2021
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<P ALIGN="CENTER" STYLE="margin: 0px"><FONT STYLE="font-size: 10pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px"><IMG SRC="koru_logo.jpg" ALIGN="MIDDLE"></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P ALIGN="CENTER" STYLE="margin: 0px; font-size: 14pt"><B>KORU Medical Systems Reports Fourth Quarter and Full Year 2020<BR> Financial
Results</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><B>CHESTER, NY &ndash; March 23, 2021 &ndash; Repro Med Systems, Inc. dba
KORU Medical Systems (NASDAQ: KRMD) (&ldquo;KORU Medical&rdquo; or the &ldquo;Company&rdquo;)</B> a leading medical technology company
focused on the development, manufacturing, and commercialization of innovative and easy-to-use specialty infusion solutions that improve
quality of life for patients, today reported financial results for the fourth quarter and full year ended December 31, 2020.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE"><B>2020 Full Year Financial Highlights:</B></FONT></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0px; font-size: 10pt">
  <TR HEIGHT="0" STYLE="font-size: 1pt">
    <TD WIDTH="48"></TD>
    <TD WIDTH="672"></TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px; font-size: 12pt"><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&#9679;</FONT></P>
        </TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE">Net revenue of $24.2 million</FONT></P>
        </TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px; font-size: 12pt"><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&#9679;</FONT></P>
        </TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE">Gross margin of 62%</FONT></P> </TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px; font-size: 12pt"><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&#9679;</FONT></P>
        </TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE">Net loss of $1.2 million</FONT></P>
        </TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px; font-size: 12pt"><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&#9679;</FONT></P>
        </TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE">Ended the year with $27.3 million
        in cash and cash equivalents</FONT></P> </TD></TR>
  </TABLE>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE"><B>Q4 2020 Financial Highlights:</B></FONT></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0px; font-size: 10pt">
  <TR HEIGHT="0" STYLE="font-size: 1pt">
    <TD WIDTH="48"></TD>
    <TD WIDTH="672"></TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px; font-size: 12pt"><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&#9679;</FONT></P>
        </TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE">Net revenue of $4.1 million</FONT></P>
        </TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px; font-size: 12pt"><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&#9679;</FONT></P>
        </TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE">Gross margin of 57%</FONT></P> </TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px; font-size: 12pt">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="48" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px; font-size: 12pt"><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&#9679;</FONT></P>
        </TD>
    <TD VALIGN="TOP" WIDTH="672" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE">Net loss of $0.8 million</FONT></P>
        </TD></TR>
  </TABLE>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">&ldquo;Like many companies in the healthcare sector, 2020 was a challenging
year for KORU Medical,&rdquo; said Jim Beck, Interim Chief Executive Officer. &ldquo;Despite these challenges, we made progress on many
fronts and our employees have remained steadfast in their commitment to improving patients&rsquo; lives through the use of our specialty
infusion solutions. As we move into 2021, our Company remains focused on executing our long-term strategies to drive growth and expand
the market for subcutaneous infusions for life-saving therapies. We are excited about our new CEO and are confident that under Linda Tharby&rsquo;s
direction, KORU Medical is well positioned for our next phase of growth.&rdquo;</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><B>2020 Full Year Financial Results</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Net sales were $24.2 million for 2020, a 4.4% increase from $23.2 million
in 2019. &nbsp;Growth was primarily driven by an increase in product sales volume and higher novel therapies sales of $0.9 million, offset
by higher allowances which include (i) rebates resulting from the net impact of pricing increases at our largest distributor in the second
half of 2019, and (ii) pricing decreases and growth rebates to secure our contractual position with several large customers in 2020.&nbsp;
Further increasing allowances were payment discounts and distribution fees at our largest distributor under new contract terms entered
into the fourth quarter of 2019.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2">

<P STYLE="page-break-before: always"></P><PAGE><BR>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Gross margin was 62% in 2020 compared to 64% in 2019. The decrease was primarily
driven by the higher allowances as described above.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Total operating expenses increased 13% to $16.2 million in 2020 compared
to $14.3 million in 2019.&nbsp;The increase was primarily driven by salary and related benefits and consulting fees related to marketing,
regulatory and strategic initiatives, partially offset by lower trade show and travel expenses due to COVID-19 related travel restrictions
and lower legal fees.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Net loss was $1.2 million in 2020, which includes the non-cash settlement
expense of $2.2 million, compared to net income of $0.6 million in 2019.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Adjusted EBITDA for 2020 was $3.7 million compared to $6.2 million in 2019.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Our inventory position grew from $2.4 million at December 31, 2019 to $6.8
million at December 31, 2020 mostly to ensure timely order fulfillment as we transition manufacturing of our needle sets and tubing products
for supply continuity to Command Medical Products, Inc. &nbsp;As the transition is completed this inventory is expected to convert to
a source of cash in the future.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Cash and cash equivalents were $27.3 million as of December 31, 2020.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><B>Q4 2020 Financial Results</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Net sales were $4.1 million for Q4 2020, a 34.8% decrease from $6.2 million
in Q4 2019. &nbsp;Net sales were down primarily due to inventory in the channel from the precautionary buying related to COVID-19 in the
first half of the year and the large early order placed in the third quarter of 2020, as well as lower international sales and novel therapies
sales, which currently includes clinical trial sales. &nbsp;Higher allowances also contributed to lower net sales in the quarter.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Gross margin was 57% in Q4 2020 compared to 63% in Q4 2019, primarily driven
by lower net sales for reasons described above.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Total operating expenses decreased 15.7% to $3.5 million in Q4 2020 compared
to $4.1 million in Q4 2019.&nbsp;The decrease was primarily due to lower litigation expense and lower bonus accrual, partially offset
by consulting for sustainability and strategic initiatives.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Net loss was $0.8 million in Q4 2020, compared to a net loss of $0.1 million
in Q4 2019.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Adjusted EBITDA for Q4 2020 was ($0.3) million compared to $1.5 million in
Q4 2019.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><B>Financial Guidance</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">While KORU Medical Systems does not intend to provide quarterly guidance
in the future, and given the timing of its release in the quarter, the Company expects net sales for the first quarter of 2021 to be at
least $5.0 million.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><B>Stock Repurchase Plan</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">As announced on November 16, 2020, the Board of Directors authorized a stock
repurchase program under which the Company may purchase up to $10.0 million of its outstanding common stock through December 31, 2021.
&nbsp;Through December 31, 2020, the Company had acquired 683,271 shares of its outstanding common stock for a total purchase price of
$3.5 million.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P ALIGN="CENTER" STYLE="margin: 0px">- 2 -</P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2">

<P STYLE="page-break-before: always"></P><PAGE><BR>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><B>About KORU Medical Systems</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">KORU Medical Systems develops, manufactures, and commercializes innovative
and easy-to-use specialty infusion solutions that improve quality of life for patients around the world. The FREEDOM Syringe Infusion
System currently includes the FREEDOM60<SUP>&reg;</SUP> and FreedomEdge<SUP>&reg;</SUP> Syringe Infusion Drivers, Precision Flow Rate
Tubing<SUP><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&trade;</FONT></SUP> and HIgH-Flo Subcutaneous Safety Needle Sets<SUP><FONT STYLE="font-family: Arial Unicode MS,Times New Roman">&trade;</FONT></SUP>.
These devices are used for infusions administered in the home and alternate care settings. For more information, please visit www.korumedical.com.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><B><U>Forward-looking Statements</U></B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">This press release contains forward-looking statements that involve risks
and uncertainties. Forward-looking statements can be identified by words such as &ldquo;may,&rdquo; &ldquo;believe&rdquo; and &ldquo;enables.&rdquo;
Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future
performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among
others, uncertainties associated with COVID-19, future operating results, availability of investment opportunities, market fluctuations,
and those risks and uncertainties included under the captions &ldquo;Risk Factors&rdquo; in our Annual Report on Form 10-K for the year
ended December 31, 2020, which is on file with the SEC and is available on our website at www.korumedical.com/investors and on the SEC
website at www.sec.gov. All information provided in this release and in the attachments is as of March 23, 2021. Undue reliance should
not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof.
We undertake no duty to update this information unless required by law.</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify"><B>Investor Contact:</B></P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">Greg Chodaczek</P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">347-620-7010</P>

<P STYLE="margin: 0px; font-size: 12pt; text-align: justify">investor@korumedical.com</P>

<P STYLE="margin: 0px; text-align: justify"><BR></P>

<P ALIGN="CENTER" STYLE="margin: 0px">- 3 -</P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2">

<P STYLE="page-break-before: always"></P><PAGE><BR>

<P ALIGN="CENTER" STYLE="margin: 0px"><B>REPRO MED SYSTEMS, INC.</B></P>

<P ALIGN="CENTER" STYLE="margin: 0px"><B>BALANCE SHEETS</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0px; font-size: 10pt">
  <TR HEIGHT="0" STYLE="font-size: 1pt">
    <TD WIDTH="468"></TD>
    <TD WIDTH="12.93"></TD>
    <TD WIDTH="10.2"></TD>
    <TD WIDTH="90"></TD>
    <TD WIDTH="13.8"></TD>
    <TD WIDTH="12"></TD>
    <TD WIDTH="12"></TD>
    <TD WIDTH="91.4"></TD>
    <TD WIDTH="9.66"></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="100.2" COLSPAN="2" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>December 31,</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="103.4" COLSPAN="2" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>December 31,</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="100.2" COLSPAN="2" STYLE="border-bottom: #000000 1.33px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2020</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="103.4" COLSPAN="2" STYLE="border-bottom: #000000 1.33px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2019</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="100.2" COLSPAN="2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="103.4" COLSPAN="2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="710.33" COLSPAN="8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>ASSETS</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">CURRENT ASSETS</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Cash and cash equivalents</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">27,315,286</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">5,870,929</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Accounts receivable less allowance for doubtful accounts of $24,469
        and $32,645 for December 31, 2020, and December 31, 2019, respectively</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,572,954</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,234,521</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Inventory</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">6,829,772</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,388,477</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Prepaid expenses</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">807,780</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">387,396</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">TOTAL CURRENT ASSETS</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">37,525,792</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">11,881,323</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Property and equipment, net</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,167,623</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">611,846</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 19.2px; text-indent: -19.2px">Intangible assets, net of accumulated amortization of $199,899 and $288,967
        at December 31, 2020 and December 31, 2019, respectively</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">843,587</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">807,135</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 53.06px; text-indent: -53.06px">Operating lease right-of-use assets</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">236,846</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">373,734</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 53.06px; text-indent: -53.06px">Deferred income tax assets, net</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">125,274</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">188,241</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 53.06px; text-indent: -53.06px">Other assets</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">19,812</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">19,582</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">TOTAL ASSETS</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">39,918,934</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">13,881,861</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="710.33" COLSPAN="8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="710.33" COLSPAN="8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">CURRENT LIABILITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Accounts payable</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">624,920</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">572,656</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Accrued expenses</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,610,413</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,296,612</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Accrued payroll and related taxes</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">287,130</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">190,265</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Accrued tax liability</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">204,572</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Finance lease liability &ndash; current</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,646</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">5,296</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Operating lease liability &ndash; current</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">141,293</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">136,888</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">TOTAL CURRENT LIABILITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,666,402</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,406,289</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 53.06px; text-indent: -53.06px">Finance lease liability, net of current portion</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,646</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 53.06px; text-indent: -53.06px">Operating lease liability, net of current portion</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">95,553</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">236,846</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">TOTAL LIABILITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,761,955</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,645,781</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;Commitments and contingencies</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">STOCKHOLDERS&rsquo; EQUITY</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Common stock, $0.01 par value, 75,000,000 shares authorized, 46,680,119
        and 42,239,788 shares issued; 43,259,617 and 39,502,557 shares outstanding at December 31, 2020, and December 31, 2019, respectively</P>
        </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">466,801</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">422,398</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Additional paid-in capital</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">35,880,986</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">6,293,069</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Treasury stock, 3,420,502 shares and 2,737,231 shares at December 31,
        2020 and December 31, 2019, respectively, at cost</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(3,843,562</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(344,204</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Retained earnings </P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,652,754</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">4,864,817</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">TOTAL STOCKHOLDERS&rsquo; EQUITY</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">36,156,979</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">11,236,080</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="468" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">TOTAL LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.93" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="90" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">39,918,934</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="91.4" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">13,881,861</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  </TABLE>

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

<P ALIGN="CENTER" STYLE="margin: 0px">- 4 -</P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2">

<P STYLE="page-break-before: always"></P><PAGE><BR>

<P ALIGN="CENTER" STYLE="margin: 0px"><B>REPRO MED SYSTEMS, INC.</B></P>

<P ALIGN="CENTER" STYLE="margin: 0px"><B>STATEMENTS OF OPERATIONS</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0px; font-size: 10pt">
  <TR HEIGHT="0" STYLE="font-size: 1pt">
    <TD WIDTH="247.4"></TD>
    <TD WIDTH="9.53"></TD>
    <TD WIDTH="9.46"></TD>
    <TD WIDTH="85.2"></TD>
    <TD WIDTH="26.8"></TD>
    <TD WIDTH="9.46"></TD>
    <TD WIDTH="85.2"></TD>
    <TD WIDTH="12.13"></TD>
    <TD WIDTH="12.06"></TD>
    <TD WIDTH="10.46"></TD>
    <TD WIDTH="84.26"></TD>
    <TD WIDTH="12.73"></TD>
    <TD WIDTH="10.73"></TD>
    <TD WIDTH="9.46"></TD>
    <TD WIDTH="85.73"></TD>
    <TD WIDTH="9.33"></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="216.13" COLSPAN="5" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>For the <BR> Three Months Ended</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="213.4" COLSPAN="6" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>For the<BR> Years Ended</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="216.13" COLSPAN="5" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>December 31,</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="213.4" COLSPAN="6" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>December 31,</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="94.66" COLSPAN="2" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2020</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="94.66" COLSPAN="2" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2019</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="94.73" COLSPAN="2" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2020</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="95.2" COLSPAN="2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2019</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-top: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-top: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-top: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-top: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-top: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-top: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">NET SALES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">4,057,220</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">6,222,134</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">24,176,448</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">23,162,621</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">Cost of goods sold</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,759,947</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,274,850</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">9,240,362</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">8,308,811</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Gross Profit</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,297,273</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,947,284</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">14,936,086</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">14,853,810</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">OPERATING EXPENSES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Selling, general and administrative</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,988,330</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,794,861</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">12,028,310</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">9,771,744</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">Litigation</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">466</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">934,412</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,447,213</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,415,683</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Research and development</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">352,116</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">290,020</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,296,753</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">740,475</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">Depreciation and amortization</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">120,794</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">87,635</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">418,595</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">340,229</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Total Operating Expenses</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,461,706</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">4,106,928</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">16,190,871</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">14,268,131</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Net Operating (Loss)/Profit</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,164,433</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(159,644)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,254,785</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">585,679</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Non-Operating Income</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">Gain/(Loss) on currency exchange </P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">12,700</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,529</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,536</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(17,754</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">(Loss)/Gain on disposal of fixed assets, net</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,910)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">16,591</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">47,830</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">Interest income, net</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">18,705</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">21,572</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">42,395</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">80,663</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">TOTAL OTHER INCOME</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">31,405</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">22,191</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">60,522</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">110,739</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">(LOSS)/INCOME BEFORE INCOME TAXES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,133,028</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(137,453)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,194,263</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">696,418</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Income Tax Benefit/(Expense)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">298,400</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">57,197</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(17,800</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(132,069</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">NET (LOSS)/INCOME</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(834,628</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(80,256)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,212,063</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">564,349</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">NET (LOSS)/INCOME PER SHARE</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Basic</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(0.02</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">0.00</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(0.03</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">0.01</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">Diluted</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(0.02</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">0.00</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(0.03</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">0.01</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">Basic</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">43,732,728</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">39,502,152</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">41,929,736</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">38,778,074</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="247.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Diluted</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">43,732,728</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="26.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">39,502,152</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="12.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="84.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">41,929,736</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.73" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="85.73" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">39,061,310</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  </TABLE>

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

<P ALIGN="CENTER" STYLE="margin: 0px">- 5 -</P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2">

<P STYLE="page-break-before: always"></P><PAGE><BR>

<P ALIGN="CENTER" STYLE="margin: 0px"><B>REPRO MED SYSTEMS, INC.</B></P>

<P ALIGN="CENTER" STYLE="margin: 0px"><B>STATEMENTS OF CASH FLOWS</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0px; font-size: 10pt">
  <TR HEIGHT="0" STYLE="font-size: 1pt">
    <TD WIDTH="443.06"></TD>
    <TD WIDTH="9.13"></TD>
    <TD WIDTH="10.46"></TD>
    <TD WIDTH="89.26"></TD>
    <TD WIDTH="40.4"></TD>
    <TD WIDTH="18.46"></TD>
    <TD WIDTH="10"></TD>
    <TD WIDTH="88.86"></TD>
    <TD WIDTH="10.33"></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="257.46" COLSPAN="6" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>For the Years Ended<BR> December 31,</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="99.73" COLSPAN="2" STYLE="border-bottom: #000000 1.33px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2020</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="98.86" COLSPAN="2" STYLE="border-bottom: #000000 1.33px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2019</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">CASH FLOWS FROM OPERATING ACTIVITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="99.73" COLSPAN="2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="98.86" COLSPAN="2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Net (Loss)/Income </P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,212,063</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">564,349</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Adjustments to reconcile net (loss)/income to net cash (used in)/provided
        by operating activities:</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Stock-based compensation expense</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,618,732</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,204,844</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Stock-based litigation settlement expense</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,285,102</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Depreciation and amortization</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">418,595</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">340,229</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Gain on disposal of fixed assets</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(16,591</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(47,830</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Deferred capital gain &ndash; building lease</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(3,763</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Deferred income taxes</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">62,967</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(186,775</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Provision for doubtful accounts</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(8,176</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(4,855</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Abandonment of intangible assets</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">41,919</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Changes in operating assets and liabilities:</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 96px; text-indent: -19.2px">Decrease/(Increase)&nbsp;in accounts receivable</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">669,743</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,803,812</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 96px; text-indent: -19.2px">Increase in inventory</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(4,441,295</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(284,598</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 96px; text-indent: -19.2px">Increase in prepaid expenses and other assets</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(420,614</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(140,805</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 96px; text-indent: -19.2px">Increase in accounts payable</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">52,264</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">119,158</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 96px; text-indent: -19.2px">Increase/(Decrease) in accrued payroll and related taxes</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">96,865</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(231,449</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 96px; text-indent: -19.2px">Increase in accrued expenses</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,313,801</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">607,963</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 96px; text-indent: -19.2px">(Decrease)/Increase in accrued tax liability</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(204,572</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">187,964</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">NET CASH (USED IN)/PROVIDED BY OPERATING ACTIVITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(743,323</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">320,620</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">CASH FLOWS FROM INVESTING ACTIVITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Purchases of property and equipment</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(920,604</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(201,174</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Purchases of intangible assets</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(140,548</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(224,365</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Proceeds from certificates of deposit</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,517,927</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Proceeds from disposal of property and equipment</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">25,000</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">217,821</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">NET CASH (USED IN)/PROVIDED BY INVESTING ACTIVITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,036,152</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,310,209</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">CASH FLOWS FROM FINANCING ACTIVITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Proceeds from issuance of equity</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">26,728,486</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">508,900</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Purchase of treasury stock</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(3,499,358</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #D9D9D9">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Borrowings from indebtedness</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">4,976,508</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Payments on indebtedness</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(4,976,508</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Payments on finance lease liability</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(5,296</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(4,783</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Payment for cancelled shares</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(2,820</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">NET CASH PROVIDED BY FINANCING ACTIVITIES</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">23,223,832</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">501,297</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">NET INCREASE IN CASH AND CASH EQUIVALENTS</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">21,444,357</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,132,126</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">5,870,929</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,738,803</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">CASH AND CASH EQUIVALENTS, END OF YEAR</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">27,315,286</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">5,870,929</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">Supplemental Information</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 38.4px; text-indent: -19.2px">Cash paid during the years for:</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Interest</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">27,736</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">342</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Income taxes</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">321,983</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 3px double; margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">130,879</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">Schedule of Non-Cash Investing and Financing Activities:</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="443.06" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 85.46px; text-indent: -27.86px">Non-cash equity issuance for the EMED Settlement</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10.46" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="89.26" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">938,094</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="40.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="18.46" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD>
    <TD VALIGN="BOTTOM" WIDTH="10" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="88.86" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="10.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; padding: 0px">&nbsp;</P></TD></TR>
  </TABLE>

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

<P ALIGN="CENTER" STYLE="margin: 0px">- 6 -</P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2">

<P STYLE="page-break-before: always"></P><PAGE><BR>

<P STYLE="margin: 0px">A reconciliation of our non-GAAP measures is below:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0px; font-size: 10pt">
  <TR HEIGHT="0" STYLE="font-size: 1pt">
    <TD WIDTH="285"></TD>
    <TD WIDTH="13.66"></TD>
    <TD WIDTH="13"></TD>
    <TD WIDTH="72.2"></TD>
    <TD WIDTH="11.53"></TD>
    <TD WIDTH="12.8"></TD>
    <TD WIDTH="13"></TD>
    <TD WIDTH="71.86"></TD>
    <TD WIDTH="14"></TD>
    <TD WIDTH="12"></TD>
    <TD WIDTH="13.6"></TD>
    <TD WIDTH="72.6"></TD>
    <TD WIDTH="22.4"></TD>
    <TD WIDTH="11.33"></TD>
    <TD WIDTH="71.86"></TD>
    <TD WIDTH="9.6"></TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="194.4" COLSPAN="6" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>Three Months Ended</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="201.4" COLSPAN="6" STYLE="margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>Year Ended</B></P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px"><B>Reconciliation of GAAP Net (Loss)/Income</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="194.4" COLSPAN="6" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>December 31,</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="201.4" COLSPAN="6" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>December 31,</B></P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px"><B>to Non-GAAP Adjusted EBITDA:</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="85.2" COLSPAN="2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2020</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="84.86" COLSPAN="2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2019</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="86.2" COLSPAN="2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2020</B></P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="92.8" COLSPAN="3" STYLE="border-bottom: #000000 1px solid; margin-top: 0px">
        <P ALIGN="CENTER" STYLE="margin: 0px"><B>2019</B></P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="border-top: #000000 1px solid; margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">GAAP Net (Loss)/Income</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(834,628</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(80,256</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(1,212,063</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">564,349</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 21.93px">Income Tax (Benefit)/Expense</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(298,400</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(57,197</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">17,800</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">132,069</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px; margin-left: 21.93px">Depreciation and Amortization</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">120,794</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">87,635</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">418,595</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">340,229</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px; background-color: #E6E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px; margin-left: 21.93px">Interest Income, Net </P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(18,705</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(21,572</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(42,395</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(80,663</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px">
        <P STYLE="margin: 0px">)</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 21.93px">Reorganization Charges</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">95,700</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">95,700</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">354,926</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 21.93px">Discontinued Product (Income)/Expense</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(459</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">70,859</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">&mdash;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 21.93px">Litigation </P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">466</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">934,212</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">2,447,213</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,415,683</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px; margin-left: 21.93px">Manufacturing Initiative Expenses</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">51,723</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">110,282</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">246,527</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">230,668</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px; margin-left: 21.93px">Stock-based Compensation Expense</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">607,592</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">564,069</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,618,732</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #E7E6E6">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,204,844</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="margin-top: 0px; background-color: #E7E6E6">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  <TR>
    <TD VALIGN="BOTTOM" WIDTH="285" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">Non-GAAP Adjusted EBITDA</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.66" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.2" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">(275,917</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.53" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">)&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12.8" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">1,537,173</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="14" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="12" STYLE="margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="13.6" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="72.6" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">3,660,968</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="22.4" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="11.33" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">$</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="71.86" STYLE="border-bottom: #000000 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P ALIGN="RIGHT" STYLE="margin: 0px">6,162,105</P> </TD>
    <TD VALIGN="BOTTOM" WIDTH="9.6" STYLE="border-bottom: #FFFFFF 3px double; margin-top: 0px; background-color: #FFFFFF">
        <P STYLE="margin: 0px">&nbsp;</P> </TD></TR>
  </TABLE>

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

<P ALIGN="CENTER" STYLE="margin: 0px">- 7 -</P> <HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE="2"> </DIV>

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