<SEC-DOCUMENT>0001299933-12-001836.txt : 20120802
<SEC-HEADER>0001299933-12-001836.hdr.sgml : 20120802
<ACCEPTANCE-DATETIME>20120802160438
ACCESSION NUMBER:		0001299933-12-001836
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120802
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120802
DATE AS OF CHANGE:		20120802

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STEMCELLS INC
		CENTRAL INDEX KEY:			0000883975
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				943078125
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19871
		FILM NUMBER:		121003473

	BUSINESS ADDRESS:	
		STREET 1:		3155 PORTER DRIVE
		STREET 2:		.
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304
		BUSINESS PHONE:		6504753100

	MAIL ADDRESS:	
		STREET 1:		3155 PORTER DRIVE
		STREET 2:		.
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CYTOTHERAPEUTICS INC/DE
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_45722.htm
<DESCRIPTION>LIVE FILING
<TEXT>
<!-- CoverPageHeader start -->
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE> StemCells, Inc. (Form: 8-K) </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">
<!-- Comment1 -->
<A NAME="DOCUMENT_TOP">&nbsp;</A>
<P>
<!-- CoverPageHeader end --><!-- CoverPageTitle START -->
<A NAME="DOCUMENT_TOP">&nbsp;</A>
<HR NOSHADE>
<P>
<P ALIGN="CENTER">
<FONT SIZE="4">
		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
</FONT>
<BR>
<FONT SIZE="2">
	WASHINGTON, D.C. 20549
</FONT>
<P ALIGN="CENTER">
<FONT SIZE="5">
	FORM 8-K
</FONT>
<FONT SIZE="2">

</FONT>
</P>
<P ALIGN="CENTER">
<FONT SIZE="3">
	CURRENT REPORT
</FONT>
</P>
<P ALIGN="CENTER">
<FONT SIZE="2">
	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
</FONT>
</P>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
<TD WIDTH="51%">
	&nbsp;
</TD>
<TD WIDTH="5%">
	&nbsp;
</TD>
<TD WIDTH="44%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Date of Report (Date of Earliest Event Reported):
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	August 2, 2012
</FONT>
</TD>
</TR>
</TABLE>
<BR>
</CENTER>
<!-- CoverPageTitle END --><!-- CoverPageRegistrant START -->
<P ALIGN="CENTER"><!-- -->
<FONT SIZE="6">
	StemCells, Inc.
</FONT>
<FONT SIZE="2">
<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
</FONT>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
<TD WIDTH="33%">
	&nbsp;
</TD>
<TD WIDTH="34%">
	&nbsp;
</TD>
<TD WIDTH="33%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Delaware
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	000-19871
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	94-3078125
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
_____________________<BR>
	(State or other jurisdiction
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
_____________<BR>
	(Commission
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
______________<BR>
	(I.R.S. Employer
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	of incorporation)
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	File Number)
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Identification No.)
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	7707 Gateway Blvd, Suite 140, Newark, California
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	94560
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
_________________________________<BR>
	(Address of principal executive offices)
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
___________<BR>
	(Zip Code)
</FONT>
</TD>
</TR>
</TABLE>
</CENTER>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">

<TR VALIGN="BOTTOM">
<TD WIDTH="51%">
	&nbsp;
</TD>
<TD WIDTH="5%">
	&nbsp;
</TD>
<TD WIDTH="44%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Registrant&#146;s telephone number, including area code:
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	510.456.4000
</FONT>
</TD>
</TR>
</TABLE>
</CENTER>
<P ALIGN="CENTER">
<FONT SIZE="2">
	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
</FONT>
<P ALIGN="CENTER">
<FONT SIZE="2">
	&nbsp;
</FONT>
<!-- CoverPageRegistrant END --><P><FONT SIZE="2">
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:</FONT>
</P>
<P><FONT SIZE="2">
[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
</P></FONT><!-- PageBreak START -->
<P>
<HR NOSHADE>
<DIV ALIGN="LEFT" STYLE="PAGE-BREAK-BEFORE:ALWAYS">
<A HREF="#DOCUMENT_TOP">
<U>
<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
<!-- PageBreak END --><!-- Item START -->
<P ALIGN="LEFT">
<FONT SIZE="2">
<B>
	Item 2.02 Results of Operations and Financial Condition.
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
On August 2, 2012, StemCells, Inc. (the "Company") issued a press release announcing its financial results for the three months ended June 30, 2012. A copy of this press release is attached hereto as Exhibit 99.1.<br><br>StemCells will host a live conference call and webcast today, August 2, at 4:30 PM Eastern Time (1:30 PM Pacific Time) to discuss its financial results and recent business activities.  Interested parties are invited to listen to the call over the Internet via the Investors section of the Company&#x2019;s website at http://investor.stemcellsinc.com/phoenix.zhtml?c=86230&p=irol-irhome. An archived version of the webcast will be available for replay on the Company&#x2019;s website beginning approximately two hours following the conclusion of the live call and continuing for a period of 30 days.  <br><br>The information set forth in Items 2.02 and 9.01 of this current report Form 8-K, including the attached exhibit, is being furnished to the SEC and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing.<br>
</FONT>
</P>
<!-- Item END -->
<BR><BR><BR><BR><!-- Item START -->
<P ALIGN="LEFT">
<FONT SIZE="2">
<B>
	Item 9.01 Financial Statements and Exhibits.
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
(d) Exhibits<br><br>Exhibit 99.1 Press Release, dated August 2, 2012, announcing the Company's financial results for the three months ended June 30, 2012.
</FONT>
</P>
<!-- Item END -->
<BR><BR><BR><BR><P ALIGN="LEFT" STYLE="FONT-SIZE: 10PT"></P><!-- PageBreak START -->
<P>
<HR NOSHADE>
<DIV ALIGN="LEFT" STYLE="PAGE-BREAK-BEFORE:ALWAYS">
<A HREF="#DOCUMENT_TOP">
<U>
<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
<!-- PageBreak END --><!-- SignatureHeader START -->
<P ALIGN="CENTER">
<FONT SIZE="2">
<B>
	SIGNATURES
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
	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>
<!-- SignatureHeader END --><!-- Signature START -->
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
<TD WIDTH="19%">
	&nbsp;
</TD>
<TD WIDTH="34%">
	&nbsp;
</TD>
<TD WIDTH="3%">
	&nbsp;
</TD>
<TD WIDTH="1%">
	&nbsp;
</TD>
<TD WIDTH="43%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD COLSPAN="3" VALIGN="TOP" ALIGN="LEFT">
<FONT SIZE="2">
	StemCells, Inc.
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
<I>
	August 2, 2012
</I>
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	By:
</I>
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	/s/ Kenneth Stratton
</I>
<BR>
</FONT>
</TD>
</TR>
<TR>
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<HR SIZE="1" NOSHADE>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	Name: Kenneth Stratton
</I>
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	Title: General Counsel
</I>
</FONT>
</TD>
</TR>
</TABLE>
</CENTER>
<!-- Signature END --><!-- PageBreak START -->
<P>
<HR NOSHADE>
<DIV ALIGN="LEFT" STYLE="PAGE-BREAK-BEFORE:ALWAYS">
<A HREF="#DOCUMENT_TOP">
<U>
<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
<!-- PageBreak END --><P ALIGN="CENTER">
<FONT SIZE="2">
	Exhibit&nbsp;Index
</FONT>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="60%">
<TR VALIGN="BOTTOM">
<TD WIDTH="8%">
	&nbsp;
</TD>
<TD WIDTH="15%">
	&nbsp;
</TD>
<TD WIDTH="77%">
	&nbsp;
</TD>
</TR>

<BR>
<TR VALIGN="BOTTOM">
<TD NOWRAP ALIGN="LEFT">
<FONT SIZE="1">
<B>
	Exhibit No.
</B>
</FONT>
</TD>
<TD>
<FONT SIZE="1">
	&nbsp;
</FONT>
</TD>
<TD NOWRAP ALIGN="LEFT">
<FONT SIZE="1">
<B>
	Description
</B>
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD NOWRAP ALIGN="CENTER">
<HR SIZE="1" NOSHADE>
</TD>
<TD>
<FONT SIZE="1">
	&nbsp;
</FONT>
</TD>
<TD NOWRAP ALIGN="CENTER">
<HR ALIGN="LEFT" SIZE="1" WIDTH="88%" NOSHADE>
</TD>
</TR>





<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" WIDTH="8%" nowrap>
<FONT SIZE="2">
<DIV ALIGN="LEFT">
	99.1
</DIV>
</FONT>
</TD>
<TD WIDTH="15%">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
Press release dated August 2, 2012
</FONT>
</TD>
</TR></TABLE></CENTER><!-- HTMLFooter START -->
</BODY>
</HTML>
<!-- HTMLFooter END -->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE> EX-99.1 </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt"><img src="e36733-12215145723474fd2c_1.jpg">
</FONT>

<P align="center" style="font-size: 11pt"><B>STEMCELLS, INC. REPORTS SECOND QUARTER 2012 FINANCIAL RESULTS<BR>
AND PROVIDES BUSINESS UPDATE</B>



<P align="left" style="font-size: 11pt"><B>NEWARK, CA (August&nbsp;2, 2012) </B>&#150; StemCells, Inc. (NASDAQ: STEM), a leading stem cell company
developing and commercializing novel cell-based therapeutics and tools for use in stem cell-based
research and drug discovery, today reported financial results for the second quarter ended June&nbsp;30,
2012 and provided a business update.


<P align="left" style="font-size: 11pt">&#147;We continue to be encouraged by our progress in developing cell-based therapeutics for a broad
array of disorders affecting the central nervous system,&#148; said Martin McGlynn, President and CEO of
StemCells, Inc. &#147;We have already reported top line results from our Phase I PMD trial and I am
pleased to report that the manuscript with the complete PMD trial data is under peer review for
publication by a top tier journal.


<P align="left" style="font-size: 11pt">Our other clinical development efforts also continue to advance. We recently reported interim
safety data from our chronic spinal cord injury trial, showing that our cells and the procedure
have been well tolerated. We have also initiated a Phase I/II trial in dry AMD and look forward to
enrolling our first patients in this study soon. Lastly, we recently reported preclinical data
showing that our cells restored memory in two animal models relevant to Alzheimer&#146;s disease without
having to reduce beta-amyloid or tau burden that are the pathological hallmarks of the disease.
Results of this kind underscore the potential of our HuCNS-SC cells to potentially address a number
of devastating CNS disorders.


<P align="left" style="font-size: 11pt">Financially, we aim to do more with less and continue to carefully manage our burn rate. Last
week&#146;s decision by CIRM to award us a $20&nbsp;million disease team award is exciting and welcome. This
award will not only provide additional resources, but is also a vote of confidence in our
technology, our program and our people. Moving forward, we will continue to generate clinical data
from our HuCNS-SC program in a thoughtful, cost effective manner, which is, we believe, the best
pathway to grow shareholder value.&#148;


<P align="left" style="font-size: 11pt"><B>Second Quarter and Recent Business Highlights</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 10pt">&#149;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 10pt"></FONT><FONT style="font-size: 11pt">In March&nbsp;2012, we presented preliminary evidence of progressive and durable
donor-cell derived myelination in all four patients who underwent transplantation with our
proprietary HuCNS-SC cells in our Phase I clinical trial for Pelizaeus-Merzbacher disease
(PMD), a rare hypo-myelination disorder in children. In addition, clinical assessment
revealed measureable gains in motor and/or cognitive function in three of the four
patients; the fourth patient remained clinically stable. A summary of the trial results
were presented at the <I>2012 European Leukodystrophy Association (ELA)&nbsp;Families/Scientists
Meeting </I>in Paris. A manuscript with the complete trial data is under peer review for
publication.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 10pt">&#149;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 10pt"></FONT><FONT style="font-size: 11pt">In May&nbsp;2012, we presented data from the first interim safety review of our
Phase I/II spinal cord injury clinical trial, which indicated that the surgery,
immunosuppression and the HuCNS-SC cell transplants have been well-tolerated. &nbsp;This trial
represents the first time that neural stem cells have been transplanted as a potential
therapeutic agent for spinal cord injury.&nbsp; A summary of the data was presented at the
<I>Interdependence 2012 Global SCI Conference </I>in Vancouver, Canada.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 10pt">&#149;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 10pt"></FONT><FONT style="font-size: 11pt">In June&nbsp;2012, we initiated our Phase I/II clinical trial of our HuCNS-SC cells
in dry age-related macular degeneration (AMD). AMD is the leading cause of vision loss and
blindness in people over 55&nbsp;years of age, and approximately 30&nbsp;million people worldwide are
afflicted with the disease. Dry AMD is the most common form of the disease and there are
no approved treatments for dry AMD. The trial is being conducted at the Retina Foundation
of the Southwest&#146;s (RFSW)&nbsp;Anderson Vision Research Center in Dallas, Texas, one of the
leading independent vision research centers in the United States.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 10pt">&#149;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 10pt"></FONT><FONT style="font-size: 11pt">In July&nbsp;2012, we presented preclinical data demonstrating that our proprietary
human neural stem cells restored memory and enhanced synaptic function in two animal models
relevant to Alzheimer&#146;s disease. HuCNS-SC cells were transplanted into a specific region
of the brain, the hippocampus. Hippocampal synaptic density is reduced in Alzheimer&#146;s
disease and correlates with memory loss. Specifically, the researchers observed increased
synaptic density and improved memory in animals transplanted with the cells. Importantly,
these results did not require reduction in beta-amyloid or tau that accumulate in the
brains of patients with Alzheimer&#146;s disease and account for the pathological hallmarks of
the disease. The data was presented at the Alzheimer&#146;s Association <I>International Conference
2012 </I>in Vancouver, Canada.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 10pt">&#149;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 10pt"></FONT><FONT style="font-size: 11pt">In July&nbsp;2012, the California Institute for Regenerative Medicine (CIRM)
approved an award to us and our collaborators for up to a $20&nbsp;million under CIRM&#146;s Disease
Team Therapy Development Award program (RFA 10-05). The award is to fund preclinical
development of our HuCNS-SC cells as a potential treatment for cervical spinal cord injury.
The award will provide funding over a maximum four-year period, with the goal of filing an
investigational new drug (IND)&nbsp;application for cervical spinal cord injury within that
time.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 10pt">&#149;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 10pt"></FONT><FONT style="font-size: 11pt">In July&nbsp;2012, the Japan Patent Office granted us Patent Number 5007003, titled
&#147;Enriched Central Nervous System Stem Cell and Progenitor Cell Populations, and Methods for
Identifying, Isolating and Enriching for Such Populations.&#148; The patent broadly covers the
prospective isolation and enrichment of neural stem and progenitor cells using antibody
selection, as well as the use of these cells to treat disorders of the central nervous
system. Some of the more noteworthy claims in this patent include methods for isolating
human neural stem cells, as well as compositions of matter comprising enriched neural stem
cells, such as our proprietary HuCNS-SC cells, and the use of enriched neural stem cells as
a medicament for the treatment of neurodegenerative diseases, acute brain injury and
dysfunction of the central nervous system.&nbsp;The term of this patent extends into 2020.</FONT></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><FONT style="font-size: 10pt">&#149;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT style="font-size: 10pt"></FONT><FONT style="font-size: 11pt">In July&nbsp;2012, we regained compliance with both the minimum shareholders&#146;
equity and minimum bid price requirements for the continued listing of our shares of common
stock on the Nasdaq Capital Market.</FONT></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 11pt"><B>Second Quarter Financial Results</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Operating Expenses down 24%</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Revenue from product sales up 14%</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Pro forma </I>cash balance $18.2&nbsp;million</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Anticipated 2012 cash burn $18-$20&nbsp;million</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>CIRM approves $20&nbsp;million cervical spinal cord disease team award</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 11pt">Revenue from product sales increased 14% to $211,000 in the second quarter of 2012 compared to the
same period of 2011 as our SC Proven media and reagents business continued to see increased unit
volume. Total revenue in the second quarter of 2012 was $249,000, compared to $234,000 in the same
period of 2011.


<P align="left" style="font-size: 11pt">Our operating expenses decreased 24% to $5,535,000 in the second quarter of 2012 compared to the
same quarter of 2011. Research and development expenses were 26% lower, and selling, general and
administrative expenses were 16% lower, compared to the second quarter of 2011. The significant
reduction in operating expenses was primarily attributable to continuing tight cost controls and a
number of measures taken last year to reduce infrastructure and overhead costs, including a
reduction in workforce implemented in May&nbsp;2011.


<P align="left" style="font-size: 11pt">Other income in the second quarter of 2012 was $6,184,000, compared to $3,055,000 in the second
quarter of 2011. This increase was primarily due to a decrease in the estimated fair value of
warrant liability. Our outstanding warrants are classified as a liability, with subsequent changes
in the estimated fair value recorded as income or loss.


<P align="left" style="font-size: 11pt">Loss from operations in the second quarter of 2012 was $5,350,000, a 25% decrease compared to
the same period in 2011. Net income for the quarter was $834,000, or $0.03 per share, compared
with a net loss of $4,035,000, or $(0.29) per share, for the second quarter of 2011.


<P align="left" style="font-size: 11pt">Net cash used in operating activities for the quarter was $5,084,000. For the first six
months of 2012, net cash used in operating activities was $10,715,000, which was 18% lower than the
same period in 2011.


<P align="left" style="font-size: 11pt">At June&nbsp;30, 2012, <I>pro forma </I>cash, cash equivalents and marketable debt securities totaled
$18,162,000. This total includes $9,259,000 in net proceeds from the exercise of Series&nbsp;A Warrants
and the sale of shares of common stock subsequent to the end of the second quarter.


<P align="left" style="font-size: 11pt"><B>Conference Call</B>


<P align="left" style="font-size: 11pt">StemCells will host a live conference call and webcast today, August&nbsp;2, at 4:30 PM Eastern Time
(1:30 PM Pacific Time) to discuss its financial results and recent business activities. Interested
parties are invited to listen to the call over the Internet via the Investors section of the
Company&#146;s website at http://investor.stemcellsinc.com/phoenix.zhtml?c=86230&p=irol-irhome. An
archived version of the webcast will be available for replay on the Company&#146;s website beginning
approximately two hours following the conclusion of the live call and continuing for a period of 30
days.


<P align="left" style="font-size: 11pt"><B>About StemCells, Inc.</B>


<P align="left" style="font-size: 11pt">StemCells, Inc. is engaged in the research, development, and commercialization of cell-based
therapeutics and tools for use in stem cell-based research and drug discovery. The Company&#146;s lead
therapeutic product candidate, HuCNS-SC&#174; cells (purified human neural stem cells), is currently in
development as a potential treatment for a broad range of central nervous system disorders. &nbsp;In a
Phase&nbsp;I clinical trial in Pelizaeus-Merzbacher disease (PMD), a fatal myelination disorder in
children, the Company has shown preliminary evidence of progressive and durable donor-derived
myelination in all four patients transplanted with HuCNS-SC cells. The Company is also conducting
a Phase I/II clinical trial in chronic spinal cord injury in Switzerland and has reported positive
interim safety data for the first patient cohort. The Company has also initiated a Phase I/II
clinical trial in dry age-related macular degeneration (AMD), and is pursuing preclinical studies
in Alzheimer&#146;s disease.&nbsp; StemCells also markets stem cell research products, including media and
reagents, under the SC Proven&#174; brand. Further information about StemCells is available at
<U>http://www.stemcellsinc.com</U>.


<P align="left" style="font-size: 11pt"><I>Apart from statements of historical fact, the text of this press release constitutes
forward-looking statements within the meaning of the U.S. securities laws, and is subject to the
safe harbors created therein. These statements include, but are not limited to, statements
regarding the future business operations of StemCells, Inc. (the &#147;Company&#148;); the potential for the
Company&#146;s HuCNS-SC cells to treat a broad array of disorders affecting the central nervous system
(CNS), such as spinal cord injury and age related macular degeneration; the timing and prospect for
detecting a clinical benefit from the use of HuCNS-SC cells in CNS diseases such as Alzheimer&#146;s;
the Company&#146;s ability to secure in 2012 funding from the California Institute of Regenerative
Medicine; and the Company&#146;s ability to continue generating clinical data while reducing operating
expenses. These forward-looking statements speak only as of the date of this news release. The
Company does not undertake to update any of these forward-looking statements to reflect events or
circumstances that occur after the date hereof. Such statements reflect management&#146;s current views
and are based on certain assumptions that may or may not ultimately prove valid. The Company&#146;s
actual results may vary materially from those contemplated in such forward-looking statements due
to risks and uncertainties to which the Company is subject, including uncertainties with respect to
the fact that additional trials will be required to confirm the safety and demonstrate the efficacy
of HuCNS-SC cells for the treatment of any disease or disorder; uncertainties about whether
myelination formed by donor cells, if any, will have any biologic effect; risks whether the FDA,
other applicable regulatory agencies or institutional review boards will permit the Company to
initiate or continue clinical testing in any disease or disorder; uncertainties regarding the
potential for the Company to grow its SC Proven business; uncertainties regarding the Company&#146;s
ability to obtain the increased capital resources needed to continue its current and planned
operations; uncertainties about the Company&#146;s ability to secure funding from any governmental
agency, such as the California Institute of Regenerative Medicine; uncertainty as to whether
HuCNS-SC cells and any products that may be generated in the future in the Company&#146;s cell-based
programs will prove safe and clinically effective and not cause tumors or other adverse side
effects; uncertainties regarding whether results in preclinical research in animals will be
indicative of future clinical results in humans; uncertainties regarding the Company&#146;s
manufacturing capabilities given its increasing preclinical and clinical commitments; uncertainties
regarding the validity and enforceability of the Company&#146;s patents; and other factors that are
described under the heading &#147;Risk Factors&#148; disclosed in Part&nbsp;I, Item&nbsp;1A in the Company&#146;s Annual
Report on </I><I>Form 10-K</I><I> for the year ended December&nbsp;31, 2011 and in its subsequent reports on Form&nbsp;10-Q
and Form&nbsp;8-K.</I>


<P align="left" style="font-size: 11pt">CONTACT:


<P align="left" style="font-size: 11pt">Rodney Young
<BR>
StemCells, Inc.
<BR>
Chief Financial Officer
<BR>
(510)&nbsp;456-4128


<P align="left" style="font-size: 11pt">Ian Stone
<BR>
Russo Partners
<BR>
(619)&nbsp;308-6541


<P align="center" style="font-size: 11pt">&#151; more &#150;




<P align="center" style="font-size: 10pt; display: none">1
<!-- PAGEBREAK -->




<P align="left" style="font-size: 11pt">StemCells, Inc.
<BR>
<B>Unaudited Condensed Consolidated Statements of Operations</B>
<BR>
(in thousands, except share and per share amounts)

<DIV align="center">
<TABLE style="font-size: 9pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 9pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Three months ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Six months ended</B></TD>
</TR>
<TR style="font-size: 9pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>June 30</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>June 30</B></TD>
</TR>
<TR style="font-size: 9pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2012</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2011</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2012</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2011</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Revenue:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Revenue from licensing agreements and grants</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">49</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">411</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">122</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Revenue from product sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">211</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">185</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">334</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">249</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">234</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">893</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">456</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Cost of product sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">136</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">107</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">185</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">182</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">757</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">349</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Operating expenses:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Research and development</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,749</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,054</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,687</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,580</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Selling, general and administrative</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,776</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,103</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,179</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Wind-down expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">115</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">190</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:20px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total operating expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,535</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,272</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,432</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,949</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Loss from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,350</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7,090</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(10,675</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(14,600</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Other income (expense):</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Change in fair value of warrant liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,206</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,020</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,265</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,803</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Realized gain on sale of marketable securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Interest income (expense), net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(11</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(13</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(22</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(32</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:30px; text-indent:-10px">Other income (expense), net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(11</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(36</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(37</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total other income (expense), net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,184</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,055</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,279</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,818</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">834</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(4,035</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(9,396</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(9,782</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Basic and diluted net loss per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.03</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(0.29</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(0.39</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(0.71</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:20px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 9pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Weighted average number of common shares
outstanding, basic and diluted*</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24,806,769</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,802,372</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,882,634</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,741,481</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 9pt; text-indent: 4%">&#149;&nbsp;Adjusted for 1 for 10 reverse stock split


<P align="center" style="font-size: 9pt"><FONT style="font-size: 11pt">&#151; more &#151;</FONT>




<P align="center" style="font-size: 10pt; display: none">2
<!-- PAGEBREAK -->




<P align="left" style="font-size: 11pt">StemCells, Inc.
<BR>
<B>Unaudited Condensed Consolidated Balance Sheets</B>
<BR>
(in thousands)

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="74%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 11pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>June 30, 2012</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>December 31, 2011</B></TD>
</TR>
<TR style="font-size: 11pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>(unaudited)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>(unaudited)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><B>ASSETS:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Current Assets:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:20px; text-indent:-10px">Cash &#038; cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">7,203</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">13,311</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:20px; text-indent:-10px">Marketable securities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,281</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:20px; text-indent:-10px">Other current assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,506</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">796</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total current assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,388</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Property, plant and equipment, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,683</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,055</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Goodwill and other intangible assets, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,811</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,906</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Other assets, non-current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,051</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,856</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">16,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,205</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><B>LIABILITIES AND STOCKHOLDERS&#146; EQUITY:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Current liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,277</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,653</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Fair value of warrant liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,396</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,042</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Other non-current liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,916</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,785</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Stockholders&#146; equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,365</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,725</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:20px; text-indent:-10px">Total liabilities and stockholders&#146; equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">16,954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,205</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 11pt"># # # #




<P align="center" style="font-size: 10pt; display: none">3




<!-- v.121908 -->
</BODY>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>e36733-12215145723474fd2c_1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 e36733-12215145723474fd2c_1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`!3`:`#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BB@\>I^
ME(#F@!:**3.#CGGOV^GUH`6BD!SG@\>O?Z4M`!1110`444$XY-`!1110`44=
M\<_7M_\`KHH`****`"BBC^E`!129!_SZTOKUX_SQ0`44#GU'UH'/J/K0`444
M4``SWZ^U<[XJ\6>&O!6B7GB/Q9K6G:!HFG(9;O4=3NHK6VB`!*KOD9=\LA^6
M*%`TLSD)$CN0*Y?XL?%3PA\'/!.J^.?&FH"RTK3(\10H`]YJ=_)E;/2].M\@
MW%[>S8CB082-=T]P\5O%+*G\XO[0'[2'Q#_:.\4I<:W/<6WA^WO'C\*^"K!I
M'L[$32^7`TD4?.I:S.K1Q27<B-(3^YM4BB9D?\@\4O%S*?#G"T\-"DLTXBQL
M&\!E-.3]U/W8XC&.%YTZ/-I"$5[2O).$++FG'Y+BCBS"<.48P4?K68UT_J^$
MB]NBJ5FKRC"[]V*7-4::C9)R7Z)_&?\`X*>Z5IUU<:-\%?"ZZ\8UDCD\6^*1
M-9Z<9`Q`?2=&MW6^NXMI#1W6H7&G?O`R_P!GS1;97^"O%?[;7[3'BV24W'Q,
MU/0[>0MBS\,P6>B1)D$`1SVT'V\85CM(O,@X888*P^E/V=O^"<?B?QO:VGBO
MXR7EYX+T&X$4]AX5L3'_`,)/J$#*KK-J4LB/!HEO(K!8[<K/J+8<S166V,S?
MJK\//V8O@7\+XH/^$5^''AN*_MT`&N:E80ZUKTC8.]SJ^J)=7D1D/S-%;200
M=`L2JJ@?C&!X5\=O$^,<SSWB2KP=D^*2J4,#1G7P=3V,[.')E^#E3KN+C;_?
M<3"4E:5KL^-P^5\=<3)8K'9E+)<)52E3HTW4HU.1V<>6A1<)V:?_`"_JQD][
M,_G:A^+?[26H(UU:_$SXWW<1R[3VGC#QS)!AUW\&#4/*C7;\RA=JJIXP"*UM
M$_:F_:0\)SJ+/XN^//-@*;K?7]4GUWT8+-%X@74&PZD<\.000P8*1_4`+2R"
MX6UME`Q@"&(#H!R`O3L?I[5ROBCX<^`O&]BVG^,/!WA?Q-98.+?6]#TW4XD/
M4/&MW;3>5(C?,DL>V1&"NC*RJ1Z\OH[<5X6"KY;XJ9Q3QT%>$ITL=0A*>CLJ
MM+-9U*:>C;4)][/0[)^'V;4XJ>'XKQZK+5.4:\(R>C7O1QDG%7U>DC\7OAC_
M`,%.OB;H-Q;6OQ,\-:3XUTG>B7&H:21H>OQ1%P&FB7$^F7LB1DL+>2&R\]E"
M_:[<,6'ZS?!O]H?X5_'72_[0\!^(H;B]BA26_P##VHA+'Q!I188*WFG-([;5
M;Y3<6LEQ:,<>7<.&0M\A_&/_`()K?"_Q9;7FI?"R\N/AYKY626WTZ26YU3PO
M<S[2RP2V\\DE_I\<KX0S6EQ*ENK;TL9E3R7_`!W\9>!_BS^SMXW?2]:77O!'
MBFR6Y%AK6CWUY8)?V<RM:RW6BZU9-`UU97,,C12>5(K>7*8KF&-F,8\:IQIX
MQ>#F(I1XWPZXNX9G-4XYG3J>TG![14<>J4:M*H[*U/'TG[350G?WEQRSKB_@
M^<%GE-9OEDI*"Q4)<TXO1*U?E4HR?2&(C[VO*[ZG[S_'G]N#X1?!)KO1H[IO
M''C:#?&/#/AV>$Q6EPO&S6]7?S+72U4@K)&D5[?*Q`%BV'*?EMX^_P""C?[0
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M_:,\3W>Y?BS\5;RZ8Y\G1/%'B&RSYGR@"TT2XM8L9`VJL6-Q)`RS$M_X7;^T
MAX>N(KF[^*7QBL'&PK_:_BSQ:\+9D.PFWU6]FMY0QC9<-&RLJNAR-RU_4#I'
MACPUX>LHM.T/0=&T?3X,+#9:9IEE8VL6`%Q';VL$4,?RJ!\J#@`=`*NS:;IU
MQ&\-Q8V5Q$ZD2)+:P2*Z$$%"CHRLI[@@@@]*]Z/T<N))4_:U?%3.?KLO?<UA
M\9*"J63^.6;*K*TE\?NNVO+?0]!>'N9\O-+BO'^V>O-R5FE+3J\9=Z]=[=-=
M/YZ/`?[?G[1OA::!=1\46/C.RC9=UIXETRVD>1,?ZO[;IJV%T!ZN7>0]2Q-?
M;5C_`,%,-&NO"1FD^'&IIXZW^2NGIJEK_P`(N490!??VH5_M-=KG)T\Z46("
MHNH_,TL?U/\`$;]C7]G[XD1W$MUX%TSPWK$RL5UOPC#%X>O5D?)\Z>WT](M/
MO7+-N=[VSGE<#;YB@FOA6;_@FWXTM/'EOI^F^,M*F^'\PDN7\174,BZ_9)&Z
M?\2Z714VV]U=3*V(+R&]2U*K-+<0V[K#;7//+ASZ0/!$HX7*\_GQ7E^+FL-"
MM*:QE?"N;Y8U:D,Q7M\.XVUJ*K7HP3U9B\NX_P`D:I87'O-\-5:I1G)JK4HN
M5DIR6)?/3L]>;GG"*M=G-ZG^V?\`&_Q;<2&VUJR\+VDDA,=KH5A`KQQD#Y#=
M7ZWD[@9^^2KYSR*TO#OQ)^*^N3+,?&OCF\=F&\6VMZV(_O9(,-I<+"N`PSM0
M$#:#\H45^@OPX_9&^#/P\@MF_P"$=B\5:M"%+ZKXH":FQE4`[X=.D7^RX"'`
M=&6T,L9'RS5])6VG6%G"EO:V=K;P1@+'%!;PQ1QH.BHB(JJ!Z``>U?:9/X9<
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M*^]E?UZGLK97WZA1113`****`"BBD)`&3TH`6BDW+ZC\Z,@<]O7K_*@#YT_:
MG_:E^$/['?P;\2?&_P"-FO-HOA'0/+M;6ULHDN]=\2Z]=QS/I?ACPWITDUNN
MHZ[JS6\JVMNT]O;Q117%Y>W-K8VMS<P_QJ?M%?\`!R7^V%\0->U&+]G_`,.^
M"/@9X,\^5-*:]TBU\>>-GM5D_P!'FU#5-:C_`.$?BN9(P?M$%IX?D@5F`BE;
M89)>V_X.;OC3XE\1?M/?"/X&C4;R+P9\-_AJ/%ZZ,DTZ6-YXL\<:E<QW6L74
M`V075U:Z+HVFZ?82N)WL(I-22V>#^TKY)=#_`(-^/^";O[._[4FE?$S]HG]H
M'P]8?$ZW^'7C>R\$>#_ACK3BX\)+J2Z-8:_>^)/%NC)*$\0HZ:C;6.EZ'K"2
MZ&Z0W]QJ%AJ7F6@M?Z<X-X0X,X5\/Z?B%QCESSRMB^2IA,%*"JT*<*U9T,)1
MCAYRC0J5:THNI4JXARA3@^5*Z][^>N*>)^*N).-)\$\,8Y932PTITZ^*C-TJ
ME25*E&KB*TJT8RJQITT^2G"CRRG)-MM/3\^]*_X+L_\`!4O3[V*ZG_:<EUB*
M,G=I^J?"WX-K9S9(.7_LSX?Z=>8P#CR[R/()R<\C^C/_`((J?\%8/VI?V]OB
M?X[^%/QG\">!+O1O`'P[;QEJ7Q2\*6E_X?GAU2;7=(T70_#E_H;7.I:=/=Z]
M#=:QJ,$]M)8JD6@:B^P@PP5^P'B3_@GS^PMXMT27P]KO[('[-MQI<L)A6.S^
M#'P_TF[M5\OR0^FZII&@6.J:5<)$QCBNM-O;2YB1B(Y5K$_9#_X)\?LT_L-:
MG\5;W]G3POJOA.S^+FI>'[_7='U#Q!JGB2UTJ+PS;ZG#I>F:'?:Y/?:W%I<,
MFLZE<B#4M4U.83W;E;@1".)/E.)^//#C/N'LQPN!X!PV29Y*-..78G"T,'2H
MT[U::J59U<&L--5(4N=PISH5:<VO>DFT?1<.\&<>9-G6`Q&,XPK9GE,92EC\
M/6KXFK4FO9RY81ABO;KEE/E3G"K":O=*QZ#^V=\=-:_9D_99^.?Q^\.Z+IGB
M36_A3X`U;Q?IF@ZU+=P:5JEWIQB\NUOIK%X[N.WD\P[VMW608&UA7\F__$4=
M^TE_T;/\$?\`P?>._P#Y8U_8-\?/@IX0_:-^#?Q%^!OC^76(?!GQ.\,WWA3Q
M'+X?O(-/UI-,U#9Y[:;>W-G?P6UT/+'ERRV5RJ\YB:OQ1_XAJ_\`@GI_T'/V
MB/\`PY'AK_YWU>'P!FOAGE^`QU/CG(\7FF-J8N,\%5PZKN-+"^QA&5.7LL=A
M5S>U4I:QF[/270]?C;+O$#&X[!SX/S6C@,%#"N.*A4G0CSXCVTFII5,/6=E3
MY5I**TVW9^4__$4=^TE_T;/\$?\`P?>._P#Y8T?\11W[27_1L_P1_P#!]X[_
M`/EC6#_P6?\`^"1G[+/[`O[,/@#XO_`_4?BK>>*_$WQZ\-?#;48_'/BW2=>T
ME?#VK?#SXH>*+M[>ST_PMHDT>HC4O!^DK#<M=21I;-=Q&W9IDDB^"/\`@C'^
MQ#\'/V^/VH_''P=^-]WXSM/"?AWX#>*OB5I\O@;6K+0=6;Q#HWQ`^%_AFTCN
M;N_T?6X9-..F^,-6,MLMHDKW*VDHN$6%XYOW?`Y'X+YAPACN-:'"=991@)5H
MUXSJ8^.+YJ%2E3FH4EF;A+WJT+7J*ZN^FOXWB\X\5L%Q-A.%*W$2_M3&*@Z3
MBL&\.E7A*<.>J\&K:4Y7]UN^^[/T5'_!T;^TD/\`FV?X)'ZZ]X[_`/EA7[V_
M\$A_^"C/C_\`X*.?#'XM^.OB!\/?!_P]O?AWX\TKPE86/@^]UF]M=0M;_P`/
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MCC7<[N[E41$4%F9B%5022`*_EY_;:_X.1?!WP;^*&N_"_P#9:^&&A_&>'PAJ
M,FD>(/B9XKUO4=,\%ZIJUH3%J=CX/L-(CCU/5['3[H/9'Q%<7EI87]S;W$FD
MVU_I;6>JWG[4?\%+/'6K_#7]@?\`:R\9Z!=W.GZWI/P3\:II5]:$+/:7VIZ;
M)I,$Z-YD901M?9=U;>D>YXU=U"'_`#DOV./V<]2_:Y_:=^#W[.VG:R/#\_Q0
M\4G2KW7WA^UMI&D6&FZAK_B#4HK=G07-U::+I.H3VT#NBSW"1QNZJS,/3\'>
M!.&\^P.?<3\5QE7RK)+TOJO/5ITFX8?ZUB,16="4*TU2HN,:=.G)7E*5U)\J
M.+Q2XPS[)\;DW#_#DE0S#-;5'B%"G.K:==8>C1I*JI4XN=3F=2I.+M%)*VK/
MWK_XBCOVDO\`HV?X(_\`@^\=_P#RQH_XBCOVDO\`HV?X(_\`@^\=_P#RQK]+
M++_@V8_8ABM+:.^^(OQ[N[Q(42YNHO$GABUCN)E7#RI;+X4F$"NP+",2R!0=
MN\]:M?\`$,Y^PMT_X3SX_P"01G_BK/#/&?\`N4/Z_A7T3S[Z.J=O]7,8U>UU
M2S:S\]<P3MZI'@K)?')I7SVC%M)V=;`:7MH[81JZZ_/OK]6_\$A/^"D7Q!_X
M*/?#_P",?C'X@?#SP=\/;OX:^,?#WAK3K3P?>ZU>V^HV^LZ)<:I-<WK:U//)
M'-#+"(HU@*H8R2PW5^P-?!'[!?\`P3P^#'_!/3PKX_\`"/P9UOQQK6G?$7Q!
MI7B/6Y?&^IZ=J=S!>Z1ITNF6R6,FG:5I2Q0-!*S2I*DS&0!E=1E:^]Z_!.*J
MV18CB#,ZW#.'GA<BJ5H/+L/-58SITE0I*:DJU2K43=95)>_.3UT=K)?M/#-'
M.,/D>7T>(*RQ&<0IS6-K1E"2J5'5J.#3IQA!VI."]V*VUUNSSWXK>/\`3_A1
M\+_B#\3=5@:XTWX?^#/$GC&]MEE6!KBV\.Z3=ZK+;K-)E83.MKY0E8$1E]Y5
M@,'^+;1O^#F[]JQ/B/;:MK?PD^$<WPQ?6U>\\'V-MKT.O0^'WN0)(+;Q-)JC
MB34X+0LT5Q-I?V>6Y`\RW$1*U_2U_P`%B?B./A;_`,$U?VM/$(N3;SZO\.8_
M`-FRLZS&Y^)GB+0_AX@M_+#2>:J>)I)MZ`&%(GG+QI$TB_YI%?O'@9P%P]Q/
MDV?8_/\`+*.8?[93P&#E6E5BZ*AAXU:TZ7LYPM)RK4USZM.-E;K^->,'&>=Y
M!FV3X+)<QJX)+"RQ>*C25-^UG*ORTX5.>$KPY(/W=$[N]W:W^MO\/?&VB?$G
MP)X,^(?AJ>.[\/\`CGPOH'BS1;F&19HYM+\0Z7:ZK8R+*@"R*;:ZC(=?E;J`
M`<5V'.!TSGGZ>WO7X<?\&_'[1\WQS_8`\+>"M9NUNO%?[/'B'5/A1>-)*C7-
MQX5@V:]X"NGB3!B@M/#^JKX6M0_S2+X7>9R3+D_N/VR?3FOP'B3)ZO#^?9MD
MM;FYLMQ^(PT9233J4H5'["K;M5HNG47E(_:>'\UIYWDF69K3::QV"H5Y6=U&
MI*"]M"_>G5YX2\XL_&3_`(+$_P#!4#7O^"=?@#X<6OPX\*^'O%WQ6^*VI:S'
MI$/BB:[_`+&\.^'O#\%L=1URZL;&6WN=1GEO;^RLK*!;F*W5OM#W!;;$K?'O
M_!'W_@M)\8_VWOV@=;_9\^/'A#P%IFIW?@77?&O@[Q/X,M=2TDS7/ANYTF/4
M/#U]IMY?:E#.UQIVH7.J6UY'-`8UTVXBD#F2$5^$W_!??]I`?'G_`(*#>.?"
MND7RWG@[]GW1])^$6BM#(S6\WB"RB&M^/[ORV'[N[M_%FJWWABY*?NY8_#%M
M*F0Y8^#_`/!&OXE+\+/^"E_[*.N33I!9^(/'=_\`#B\61E6*X_X6?X6U[P#I
MT+L>FW6O$&EW$.&4M<V\*$E693_3&6>%.2+PBKYCB\KIU.)<3D>)SFEC93J*
MO0G*G+%X6E%*:A&,,-"G&I3<'[TJE[O4_G['^)&;_P#$3*6$P^8U(Y%0S:AE
M<\'&,/85H<\</7FVX.4I3KRG*$E+2*AROO\`Z5WWAR#]#^?^?RJ-CY:.[L%5
M%+%B0%55&226P``.I.,8J3).,8V_K7S/^U]\39?A1^S_`./_`!)92"+6+W3D
M\-:$VX+(NJ^(Y4TN.ZAR<-)IEM<76K!&X=;!E.0<'^.,[S7#Y'E&9YQBW;#Y
M9@L3C:NMKQP]*53E3[S<5%>;1_2&,Q5/!83$XRMI3PU"I6FO*G%RLGW=K+S9
M^+O[<'[1%]\:OBC>Z'I5TX\`>`KV\T?0;>*5C#JFHPR>3JGB"91E'-S-&]MI
M_!,6GQQG"2W-PM?<7[`_[(EEX=TC2_C;\2-+M[KQ+J\/VSP5HM_!YP\.Z9+\
MMOK-S#<1B--:U",&>S**[6&GRPL)8[RXN(;?\UOV3OA*/C3\=/"'A2^1Y=!L
M[E_$OBDX9O,T71"EW/:.>"!JUY]DTIG#JT4=\\Z;FBVG^CSXF_$3P9\$?A?X
MT^)OC2^M-`\#?#7PAK/BG7KV0I!;V.B^'-.FO9DA11\TS16PM[.UA1I9[B2"
MUMXI)I(XV_E'P,X4Q/B1Q5F_B?Q-1EF-:>:O#9%A*L?:TWC6X\DJ=.5[QP5.
M='#X2"5E4;EK**9^5<$99/B#,L;Q5FJ]O+ZS*&"I5/>A&JK/F47=<N'@X4Z,
M=E+WKWBF_$_VO?VTO@%^Q#\,KGXG_'3Q:NCV;I<V_A?PMID/]H>+_'&LQ1[H
MM#\+:*C(]U=2R/"D][=O9Z/I<4HO-7U&PLDDN%_CC_:F_P"#B?\`;'^+NIZE
MIGP"31?V<?`LCRPV,FEV&E^+?B#<V99@LFH>(_$%A>:7874T1"R#1-%MI;5L
M-9WZRK]H;\P_VY/VR?BG^WA^T+XE^+GC>^U.73[R].B?#3P*)Y9M-\$>#HKA
MHM&\/:/I\;-"M[=;_MVLW4,;7&K:Y>7=S*[JT,<7]"__``37_P"#>GPSXF\%
M>%_C7^W.-:DG\26L&MZ)\`-'U*_\//IND3$26!^(^OZ7+:ZS'J6HVVV\D\.^
M'[[3YM-MYK>&_P!6&H&\TZS_`-<,KX)X$\+<APF>^(%.EFN>8R,9T,LE".*A
M3J<D:CPN%P4W&E7G1NE7Q6)M1A-I1E"\.;]QC1HX>"G6]Z3Z63UTT2ZV[_TO
MYW-1_P""AO[>VIWT^H77[:W[5<=Q<R>9)'8?M`?%+2;(-P,0:;I7BFRTZU3C
M'E6MK#%G)V;B2?KOX`_\%R_^"B7P-OK)-1^,MS\:?#%NR"X\-?&.RMO%<UQ$
MNT.%\7^7:^-8YV1=BR7&O7L*EFD:U>1BQ_NA\-_L!_L/>$M$M/#VA?LB_LX6
MVEV<0BCCN/@S\/\`4[J;"JAEOM2U70+W4]2NI%55FO-1O+J[G"KYT\A`-?G5
M^V+_`,$#_P!B[]H?1]7U7X0^%+#]FGXI26LITK6/AQ9M9>`;J\C21K2#6_AO
M#+%X<M;)I"$N+CPK:Z#?^42\CW310JO/A_%CPLS>J\NSG@/#X#+JTO9+&+`Y
M?7=*,FDJE6&'I4L102CJY8:=:<&O=O;F8L30E[LH66RO%-):;Z_CY'JO_!.#
M_@L'\`_V^K.+P9/"?A-^T!8VAFU/X7Z[?0W%IXBB@3?<:M\/-=/E#Q!81H/,
MN],NH++Q!II$OF6-Y80IJL_Z)?&OX$^`_CUX4/A;QQ8O(L%PEYI>KV)2'5](
MNT(S-8W3(^U9X]\%U;NKP7$+D.F]8I(_Y.O^"=W_``;]_';1OCHWQ-_:D\2W
MWPI\,_!SX@K-X)M/AMXH$/C/XC:IX8U"&ZTSQ9HOB/2G:X\(>#;FXBBDM+R5
MK/Q;?JL\<6GZ3"(-1F_LL`P`/2OPSQ5X=X!EF>(ROAW$4L]R''8=2QF"Q$/K
M6#P\JBC)8:EB:E_K4.5J6J<Z$OW;J2DGR^=C\+A,1">'J0AB*%6-JM*I%3IR
M3L[--6:Z]TUT.3\%^#/#7P]\-:5X4\)Z5;:+H&BVJ6ME8VL81551\\TS<--<
M3R;IKBYE9Y9YG:65F=B:_%+_`(*#_P#!=G]GK]C[4]4^&/PMLHOC]\<-/:6T
MU;1]%U(V7@'P/>+E1#XK\5117"ZAJB2Y63P]X<6[N[?RY%U:_P!'D-NESY]_
MP7P_X*.^(?V4_A7H?[._P8\1S:!\:?CAHVHW6M^(M)N#!KO@+X7B:72;S4],
MND_?:7KGBV\34-$T35+=DO\`38-/UK4=.GL=2MM/O(_Y,?V`_P!@OXN?\%"_
MC;_PK7P)>1:%H6DP1Z_\3/B3K4%W?:7X0T*>X,?VB6.'][JGB#6)EF@T+26N
M+;^T;M)I+F]L[.WNKN+]#\,/"K()</?ZW\85(Y9PI@*36!P%*^&IU\/A6J2J
M5)4K5(8;GC[##X>@E5Q$E:,N64%/JPF$I4Z46XQIT*<%&G3C[L8P@K)62LHV
M7+%+\#ZS^+?_``7V_P""D/Q,U"YF\.?%30?@]HTLK&#1?ASX(\,9CA\PO%'+
MK7BS3/$NLO+&-J-/:W=CYRKAXL,ZMXKX0_X+)_\`!2_P9J0U*P_:P\>:OEXC
M-8^+M.\(^+M-N$B+?NFM?$/AV_\`LZ2!V$KV$EG.PVXF#1QE/['?V<O^"&O_
M``3V^`FBV*:W\'=-^.7C%(8EU3QA\96E\70WTRJAD^S>"KJ4^!=.MO-5GB5/
M#\]\(W,-QJ-U&%"^V?%/_@DK_P`$YOBYI$VD:]^R1\'_``UOA,<&I_"[PO:?
M"/5[.49,=Q#?_#8>&'FEC9MVR_2]M9L".Z@N(1Y5?5_\12\(<'4_L_">'M*M
MED;TY8J65Y4ZM2*<4JBI8B4J]525VYUZ\*VBO!O0U^L8=:*E[JT3Y5JKK6SU
M^_MYGPW_`,$5O^"CO[7/[>D?Q#@^-?PU\&#P1\.K.SM7^,WARWU'PY_;'B^_
MDADM_"<>@2&_TO4+Z'2O-U;5)]/NK)-,@DLC<Q!M1L89/WZ`QZ8XQC]>.G7T
MKY^_9A_9G^%'[(OP<\,?`WX-Z--I/@OPPU_/`]]-%>:UJNH:G=R7NHZQKVI1
MV]M_:6K7DL@$]VT*9BB@AC1(88HT^@J_G_BK,,IS3/LPQN1993RC*:M:V"P5
M/F7)1@E%5)Q<IJ%2LTZLZ<'[.FY<D/=BF^.I*,IMPCRQ>R_K:Y^)W_!87_@J
M+\2?^";3_L\)\/?AGX(^(G_"YD^++:M_PF5_KMC_`&/_`,*\/PU%C_9W]B7$
M'F_VA_PG-Y]K^T[MGV*V\G;OERO_``1Z_P""HOQ)_P""DK?M$+\0OAGX(^'?
M_"F!\)3I/_"&W^NWW]L?\+$/Q-%__:/]MW$_E?V?_P`(+9?9/LVS?]NNO.W;
M(MOY??\`!U+_`*_]A/\`ZY?M.?\`H?[/E._X-6?]9^W;_N?LP_\`H7[0M?KS
MX0X<7@0N+/[,I_ZPNLH_VE[;$^TY?]:?J%O9>V^K_P"Z?N?X.WO?'[QU*E3^
MJ.?*N9+?K\2/Z[Z***_`#A"OQ0_X+"_\%1/B3_P3:/[.X^'OPS\$?$3_`(7,
M/BT=7_X3*_UVQ_L?_A79^&?V#^SO[$G@\W^T/^$YO?MGVG=L^PVOD[=\N?VO
MK^1'_@ZE^_\`L)_[O[3O\_V>Z_0/"[)\NS[CO(<IS;"QQF7XN>/6(PTYU*<:
MJI97C:]-.=&=.HN6K2IS]V:UC9W5T]\/&,JL8R5T[W1^GW_!'O\`X*A_$C_@
MI,?VB!\0_AGX(^'?_"F1\)3I'_"&W^O7W]L?\+$_X68+_P#M'^VKB?RO[/\`
M^$&L_L?V;9O^VW7G;MD6W]L*_D1_X-6OO_MV?[O[,7\_VA*_KNI>*.49=D/'
MF?Y3E.&C@\OP=3`+#8:$ZE2-)5<KP.(J)3K3J5'S5JM2;YIRLY65DDD8F,85
MI1BK*T=%YQ04445\`8'EGQK^-'PZ_9Z^%_C'XQ?%?Q!!X9\!^!M(GUG7=4E1
MYY%ABPL-I8VD(:>_U*_N'BL].L+=6GN[R>&",9?(_B&_:[_X.'OVNOC%X@UC
M2OV<KF#]G7X9-+<6VE26FFZ+KOQ,U'3V9DCNM9\0:G;:IIVBWL\6R1K;PU;1
M2:=,S1V^M76P7#_J!_P=`?%WQ#X:^!W[-7P9TNYN[71/BKX_\=>+/$IMBZ17
M]O\`"G2?#%OIFDWTBL%>VEU+XB1:JMJZLLMWHMK<`JUF`WXX?\$%_P!DCX+_
M`+5_[7WB"V^..F:3XN\,?"?X<7/Q#TSX=:U&+C3/&&O#Q)H.AV3ZSI\BFUU?
MP]H2:E->:GI-UOM[Z[GTJ*Z@N;#[9"W]+>&?"?"^4<"X_P`2.*<NCG/L7B98
M/!3IJO1IT<+7^J76'J?N:F(KXM2CSUU*G1IQA-<KYY'?0ITXTG6FN;=VT=DO
M)K6^WW^3/A)O^"CW[?SZO_;;?MI_M._;2V[R4^-GC]-)W$$<:#'KJZ&!SPHT
MX*#@@`JI'[;_`/!(+_@JM_P4&^.'[6WPH_9S\>?$>Q^,'@3Q5+K$_B6Z\:>&
M=*?Q/H7AK0-#OM6O]2L?$V@6NCWLUQ"+1%677CJOF22K&S@NM?V&0_"'X3P:
M*GAR'X8_#V'P]':K91Z'%X,\-QZ/'9A=@LTTQ--6R6U5`%6!8!"%X"8KP3X=
M?L%?LE?!_P"/-U^TC\)_@IX0^&OQ1O\`P=K/@C4;SP/8+X;\.WNDZ[J>BZI?
M7;>#=+^S^&+/73/H<,)UW3-*L=2N;.^U*VOY[Q+E3%Y.=>*_!6>9-FV7S\.\
MOP&+K8.O2RS&488"NZ&*E'EH5IN&$P56A[-MS;HSJ.\5"SC*32EB:4XR3I=/
M=V?;TMM?3T\S^>+_`(.5?V)?'GBJ;X=_MG?#[1KG7]`\)^&S\.?C!9:=')/J
M.@6$>HW&I^$_&C6L2L\VB&2]U'0M=N4(_LJ7^PIVB>UNKZZL_P"?S_@GS_P4
MA^.W_!._Q_JWB+X8OI_B3P+XR_LZ+XB?#'Q#O.@^)X]+>7[!J5I=1?Z9H7B/
M38;J\ALM6L6V2P74MMJEIJ$"6Z0?Z:.IZ9IVM:?>Z1J]A9ZII>I6LUGJ&GZA
M;0WEC>VEPC13VMW:W"207$$T;,DL,R/'(C%64@FOYSOVSO\`@W*_9T^-FL:W
MX]_9L\33?L[>+M5>>]N?!D.FKK7PGNM1EW2,^F:*LMMJ/@Z":4Y>QT6ZGT6W
M&U-.T:PB4HW9X>>*7#BX;CP+Q[@_;91&,J&%QCI2KT%AY5/:PH8JE27MZ<J%
M1N6'Q5!2E!*-_9R@JC_GGCCPYSS^WGQ=P;B/9YE.<:U?#*HJ595HPC"=7#SG
M^ZG&K"*52A5:4O>MS<S2^A_V/O\`@O1^Q)^T]-I?A;QEX@O?V=_B??\`DP1^
M&?B@T4/A?5;R5D0Q>'_B%9JWAV4F5TCAM?$+>&M2NG?;9V5VL4LB_MC:W=K?
M6UO>V5S!=VEW#'<6MU;2QSV]S;S(LD,]O-$S1S0RQLKQR1LR2(RLI*D&O\PC
M]MC_`()T?M/?L%>);32/CCX/C?PMK4\L/A3XG>$YYM:^'_B9XAO>TMM7-M;3
MZ7K,47SW&A:Y::=J80//;PW=CLO9/V)_X($?\%./B+X(^,WA?]BWXN^)=1\6
M?"CXF2S:7\*;S7;V2\O_`(<^-T@GO+/0].N[HM<2>%O%(CEL_P"RWG>/2=86
MQN--C@AO=366N-/!S)Y9%7XNX`S19CEE*E/%5L"ZT<5'ZM37-6G@\5&TW*A%
M.4\/B$ZG+&5JBDE!SPIXIYK#.*/#/&F7_4\PJ588:GC/92P\E7G:-*.)HRO'
MEK2:C&M2?)S->ZXRO'^W:B@?Y^O>BOYQ/WI?U8_G#_X.>_\`DP[X/?\`9W7@
M;_U37QZK\A?^#8K_`)/Z^*W_`&:+X_\`_5Q?`3/Z5^O7_!SW_P`F'?![_L[K
MP-_ZIKX]5^0O_!L5_P`G]?%;_LT7X@?^KB^`E?U+PM_RCQQ/_P!?\R_]2L`?
MSCQ'_P`GRR#_``Y;_P"H^)/[M,8Y`Y)Y^G>G445_+1_1Q^<7_!7+C_@FU^V"
M0#_R2#6LC'4BZL>1]<\5_"/_`,$G/BS\.?@9_P`%!OV<_BK\6?%>F^!_A]X2
MUGQG<>(_%.KBX_L_2H=0^&GC31[)[G[)!=7&VYU/4;*R3RX'/FW,>=J[F']W
M7_!7/_E&U^V!_P!D@UG_`-*K&O\`.L_9C_9U\>?M9?'/P#^SY\,;OPW8^.?B
M-=ZO9:#=>+M0OM*\.Q2Z+X>U?Q-=G4K_`$W2]:O;=&T_1;M(##IET7NF@C<1
MQN\T?]9>!V'P6*\.N-<-F6)>#R^OC<32QF+32>'PT\KH1JUDY*23IP;DKQDK
MK6+6C_FKQ?K8O#\<<*5\#0^LXRCAJ%3"X:U_;UXYA-TZ=DTVYRLM&G;9H_T/
MO^'Q?_!,[_H[SX8_EXF_^9^NN\`_\%3_`/@GY\4?&WA;X<^`/VG_`(>^)_&W
MC?7=-\->%?#VGCQ!]NUK7=6N4L]-TVT^T:)!!]HN[F5(8O.FBCW,-SJ,D?R7
MG_@VA_X*$#D^+_V8_P#PXWCO_P"=17TK^QM_P;^_MP?`/]JW]GCXV>-O$_[/
M=UX0^%GQ=\#>.O$EOX?\>>,K[7)]&\.:[9ZE?QZ397GPUTVUNK][>!Q;07%_
M9PR2E5DN(E)<?&9CP/X.T,OQU?!>(E?$XRC@\35PF'<\-:OB:=&<\/1=L%%V
MJU5"F[-/WGJFKKZ;!<8>*=;&X2CBN"51PM7%8>GB*WLJZ]E0G5A&M5UKM+DI
MN4]4TK']GOK1117X`?MY_.9_P<P_$=_#'[#W@#X?6MR(KKXG?';PXE]`S*&N
MO#W@_P`.^)=>O(UCSN(C\0'PO.SKE4V!6&9$-?R4?L^?LC:S\=OV7/VR/C=H
ML%U/J?[-&B_#+Q?:6ULKN-0T35/$.HZ=X[@D0#RP-'\-N/%3R$^8MOH4\:#$
MQ#?OC_P=*^/A/XL_92^&$<V]=/T+X@>.+F%6R(I-2O=$T.W:1=W#2)ILIC)3
MHC_/GY:]Z_X-R?@1HOC/]AK]JF7Q+817&C?&WQ_K'PRU#[1!',MQHVD^`+.S
MO8PCC+VX;QC)N4_NGFC9>2C;?ZTX4SFKP)X+9=GE)\F(QN?T<0M$Y5L/5S6E
M1Q%**DK/VF!PM=*WV7SQ>S7\R<2Y7'C#Q7Q^4U/>HX;)ZU!:Z0JTLOE5HRNM
MK8FO2OW_``/SZ_X-IOVB8?A]^UIX[^`6M:E]FTGX[^`[J]\-6LC@0W'COX>+
M/KL=M&I90+B]\(R>)Y]_S%O[)BA5=TH-?VD?'OXJZ/\``_X)_%?XP:_.EMI/
MPT^'WBKQK>R2_=,?A_1KO4EB`ZO)/+`D$<2Y>6618T5G8*?\S?P5J_BK]A3]
MNC1=2G6XL?$G[-/[0QM=3AN/,CDFM_!7C&73=8M+D#89;;5='@N[:X4'R[FS
MO'4,8Y<G^N[_`(.'/VJ[7PQ^P1X)^'W@[5D6Y_:I\0>&M\EO<!;F;X::!!8^
M.]2>-H'++%J>J1>%=-N6#B"[T^ZU.R<RQ32QGQ_%+@U9YXC<(XO`Q4\%QI#!
M.M4BO<;PKI_6JG,M^;+Y4JE_[M[VV]3P]XJ>3<"\387%MQQ?#$L5[*,M)VQ2
MFJ$;/56Q:FN7>[::/Y$OV:?A)XK_`&[_`-M;P'\-[B6\GUGX[_%F^U?Q?J:2
M2375CH5Y>:CXP\>ZVTY1V9]+\.VNM7Z/(%\V6".,,K2*:X7PM+>_`/\`:R\/
M2PK+8WWP>_:!TIX!)*Z36TO@;X@P&$O.LBR*\?\`9J-Y@D$F1NW;J_H(_P"#
M8G]GL^(?C1\;_P!I35+%9;+X=>$+3X;>%[J:+>L7B#QO<1ZGK<UJ77"W5OH>
MB16C3Q-YD5KJ]Q`Y6.[(?\=/^"K7PZD^$W_!1C]KGPDL<EJG_"WM5\8V$>)$
M,&G?$:QTWXC:4D18^88XM/\`%-JD,FXM(BK)N.[<?VC!\24LSXYXBX$I2C]0
MRWA?#4HPBHV5>3=/%[6>F'QF%IV6D7![.U_RG$Y%5P'".2<7U(MXK'<0UZGM
M'?FE1ARSP[3_`+U;#XB6O5]3_30TF_M]5TO3M4M&WVNI6-I?VSY!WP7D$=Q"
M^02#NCD5N"1SU/6OS&_X*FZW/:_"_P"'NA(7$&K^,Y[V9<+L+Z1I5PL6_)SD
M?V@Y0#C.<\XKZH_8I\?K\5?V0_V:OB$LPF_X2WX)?#;5WD^4L9Y_"FEBY60*
MD866.=)(ID*(Z2HZ.JNI`^0/^"JL$K>"OA3.J,8H?$^M1RR`_*C2Z7$8P1GJ
M_E/@@$@*>1QG_+#QYIUL!X=<<X>*<:E##5<+46MU&.,IT:L7MIRJ2=[:75C^
MJ^)L0J_!>-Q5*5XXC+:%6+[PK*C)[='&3O\`/6QYW_P2J\-QS:_\5?%CINEL
M--T'0XF*@^7_`&A->WDNUMOR,XL4!`<;E494XR/"O^#D?XPZGX$_8=\._#33
M+I[,_&KXJZ#HNM>5-Y;7?AWP=!-XPNK`JKJ[QSZW8^'KB;;N39:&*12LV:^H
M/^"4EQ$-*^,UJ6_?/J7@Z=4]8TM-=1F].&=1Z\U^>O\`P=!Z+?W?[/7[-NN0
MQLUAH_Q>\16E])\^R*75?"!^QYPA0-(;&X`+NA(4A`V&Q])]"[!8265^&$)4
MX2C7S7%XJM%I6EB:>/QLH.2ZM.A12YKWLD]#I\.:=./#F4.*2<OK%25K:S^L
M54[[W=HK?6R78_%S_@@E^R[X;_:-_;JT+7?'&DP:YX.^`WAZY^*UQI%Y$L^G
MZAXKLKRVTWP,FH0L"LMOINO72>(TB;,<]YH5K!<1RVLL\3_Z$@&W`4`+_+V'
M/T[5_$7_`,&Q'BK2-+_:E^/7A:[N%CU;Q7\&-/N=(@9@#<1>'/%UE<:EL!Y8
MQ1ZC;L0.0I)/`)']NU?TEX^XS&8CC_$8;$.:P^!R_`TL#!OW%2JTO;U:D([)
MU*\ZD9O>7LUK9*WVF,;=:U]%%67:^X48[]Z**_%#D"D/0_0TM(>A^A_E0!_F
MK?\`!8+XNZE\9?\`@HM^TQX@O+Q[NR\->,U^''AY/-\R"TT'P!I]KX<M8+50
MS101SW5I>ZE<1Q':^H7][</NGGF=OW^_X(F_M<_\$[/V.?V-=,TKXB_M#_#G
MP;\;/B9XL\0>-?BA8:K#KC:W9/#>2:%X1T*XN;71+E?L.E^&=-L[ZWLX[F2W
M@U/6M9NX@LE_.7_F7_X*#Z%J'AK]N']JO1=4^T?;;/XY_$$RFZ;?.RW6OW=Y
M"SMY<6X&&XC*'8!Y>W!8?,=;X5_\$X/VX_C?X#T'XG?";]F[Q_XZ\`^)XKF;
M0/%&B+HTFF:G%9WEQI]TUNTVK0S`V][:W%K*LL,;I+"ZE>.?[XSKACAW._#K
MAG),USUY#D\,)D]2GB*5?"8>.*E1P-Z6'G+%1=*I&7,\1RQBIN=&-2]HN_LR
MA&=&$)2Y(VAV6R5EJ?WI?\/A_P#@FC_T=W\,?^^?$_\`\SU>O_`__@H5^QE^
MTEXZB^&GP._:`\%?$?QU/I>H:W%X;T(:T+]M*TH0G4;T?;M)L[?R;43Q&7,P
M?]X-JM7\"'_#HG_@I3_T:!\5/^_6@_\`RZK]@O\`@AU^P!^V5^SG^W5I?Q)^
M-_[/OCKX;^!H/A7\0]$E\2Z_'I2Z<FJZM'I`TZR9K34KJ;SKLV\PB`A*_(VY
MEXS^(\3>%OAWE.09MF>6<;RQ^/P6"JXC"8/Z]E-3ZS7A&+A2<*--59<S?PTV
MI.^FQR3P]&,)252[46TKQU=EY_U?T/[.<\XP?KCBEHHK^=3A/Y#O^#J7_7_L
M)_\`7+]IS_T/]GRG?\&K/^L_;M_W/V8?_0OVA:;_`,'4O^O_`&$_^N7[3G_H
M?[/E._X-6?\`6?MV_P"Y^S#_`.A?M"U_4DO^49H_]A"_];4]%?[D_3_VY']=
M]%%%?RV><%?R(_\`!U+]_P#83_W?VG?Y_L]U_7=7\B/_``=2_?\`V$_]W]IW
M^?[/=?J7@M_R<SAC_KYF?_JFS$Z,+_&C\P_X-6OO_MV?[O[,7\_VA*_KNK^1
M'_@U:^_^W9_N_LQ?S_:$K^NZEXT?\G-XH_Z^Y9_ZI<M'B_X\O2/_`*2@HHHK
M\N.8_$S_`(+L?L2^*/VO_P!DFTUKX::-/K_Q6^`GB"[^('AK1+&%[G5/$?AJ
M\TN2P\;^&=*MXPSSZC>6L&DZW96\2//>7?AR"Q@7?=8/\*?[//[0_P`9?V1O
MC'H7Q@^#^O7/@WXA^#[FZM&6\LO.M+ZRG_T?6/#7B71KL1B]TK4(T-KJ>G3B
M&9&59();6]@@N(?]5_KP:_'3]NG_`((G_LE_MI7^H^/+;3[OX*?&B^$LMW\0
MOA];VT=CXENGP4F\;>$)MFC:W<!MQ?6++^Q_$$V\"]U2^@@@MD_>?"[Q4RWA
M[*L1PCQ9@WC>'<54KNG5C26(^K1Q7^\4,1AI?QL)4DY5'[-2J0G.=J<U+W>S
M#XB,(NG45XO9[VOT:[?D?$7[(G_!R7\!?B&VB>$_VKO!>J_!'Q-=""SG\?\`
MAR&Y\5?#&6[**AN=3M;?S?%OAJ"XFX4IIWB&SM=Q>]OK6UC>Y']&W@'XA^!?
MBEX6TOQO\./&'AOQWX0UN`7.D>)O"FL6&NZ+J-NW22UU'3I[BVE`Z,%DW(>&
M4&O\]']O7_@C'^U1^PSI-[\0KV#3/B]\$[:Y$5U\2/`T4XF\-+-(5M/^$U\*
MW);5M#MYL",:S;?VGH"3F.WN]3LKJZM+:?G?^"4G_!17XB?L.?M!^$[6[\4Z
MI<?L_>/M?TSP[\5O!%]>RS^';2QU6\@LD\=:=9S>;'I>N>%GE&H2WVG)#<7V
MEQWVFW0N(KA43ZCB/PAX4XDR3$\3^&F9QK1HPJ5IY8JTJ^'JNG'VE3#TG4_V
MG!8I0NX4*_-&4N6%J:?.M:F&ISBYT6N]KZ/RUV_JY_HM7GC7P?IWB;3O!FH>
M*O#=AXNU?3[C5]*\+7FMZ;;>(]3TJTN(K2ZU/3]%FNDU*\T^VNYX+:>]M[:2
MVAN)HH9)%DD13T^0>F#^-?P\?\'$VE_M//\`MH>&/B78^`/BCX?^%G@3X;^'
MO#GPY^*OAW3M9'AU]1FO-0UCQ"UMXJT#S+?1M635-1-L]CJ%Y8:M)!##,MNU
MFUO(_P"5?@O_`(*N?\%&/AYIL>A^'/VM?BU#I]J@@AM=>U#3O%;6T:HZ"*"3
MQ;IFM7$"*)&PD<B!7"N`'1&7Y/(_`[,.)>'\ISO)^(<IE5QV&5;%8+$.:>$E
M*<TH.MAGB+S4%!RIU*-.4).2;TL_PK-O&#!Y#G6995F>29@J6#Q+HX?%4>6^
M(A&,;S]E75)6YG)1E"I*,DDUY_V\_P#!;?6/A;I?_!-S]HB'XFR:-NU30=/T
M_P`!6VIM`;RX^(TNL6+>%VT.&1UFDU2UN1+=%K99'@L(KV:=19I<D?PD_P#!
M.K1=>\0?MT_LI:7X:$YUB7XX>`YX#;Q+-(D%CK5O>W\FQ@4$:6%O<F5VPL<>
MY\C;FN2^)7QR_:Y_;7\7Z+9_$3QO\7?V@_%LEZ+;PSX>VZSXIFCO[W$*V_AW
MPIHEJ]G;7-QN\M8=+TN)V5B@7:Q!_K&_X(?_`/!'3QI^S=XFA_:U_:DT4:)\
M5#H=WIWPJ^%]Q/:W-UX"MM=A6+4_%OBLVKSQ1>,+K2C)I.EZ.ERZ:#8:GJSZ
MI$^MRVB:+^HX;"8#P:\/,^RW.<ZPN/SC.8XMX?+\/-M/$8K!QP<*="E+][[*
M"7MJ^(G3I1:TY5:+E^<U\3CO%/CC*,?EF4U\%EN6RPOML96@K^PPV)^LRG6J
MQ7(JDG^[I4XSG)76MMOZ?QP!VZ#\:6BBOXY_K^MC^J4K)+LK'\X?_!SW_P`F
M'?![_L[KP-_ZIKX]5^0O_!L5_P`G]?%;_LT7X@?^KB^`E?KU_P`'/?\`R8=\
M'_\`L[KP-_ZIKX]5^0O_``;$_P#)_7Q6_P"S1?B!_P"KB^`M?U)PLU_Q+QQ0
MKJ_M\R_]2L`?SEQ&O^-XY`^G+EO_`*CXD_NVHZ<FBD(S^?/&<^U?RV?T<?G1
M_P`%;8I;C_@FW^V"L,4LK+\&]>G98T9RL-O-:33RL%!(CAAC>:5S\L<2/(Y"
M*2/X;_\`@C!K^C>&O^"G'[)^J:]J-KI6GMXQ\3Z2+R]E2"W_`+0\0?#CQGH.
MCVIE<A!+?ZOJ5C86X)&^XN8H^K"O]$OX^?"71OCS\$_BI\%O$$K6^C_%#P'X
ME\$WMRB[S:QZ_I=Q8)="/_EH;:::.X\L8\P1%,KG(_S%/VH_V5/CK^Q1\9M=
M^%_Q9\-ZUX6\0>&M4^T^&_%EG'=1Z%XITI)A-HOBWP?XB@5;:]M+R(0W"M:W
M"W^D7RS:9J<%AJUC=VD']/\`@57R_-N&.,>#*V-IX3'YK[6IAU-KGG1Q6"CA
M)5:5.4H^V>'J0BYPB^91FMN:Y_/'C%1QV7<1<+\44L)4Q&#R[V<:LHQDX*M0
MQ:Q$:=2<4_9^UA*T)25G*,EJU9_ZHVY2.V#ZD?RI<CU'YBO\MBU_X*"?MQ6-
MM;6=I^UG\?8+6T@AM;:%/B;XG"16\$:Q0Q)G4"=L<:*B@DG"CDU/_P`/#?VZ
M>_[6_P`?_P#PYOB;_P"3ZXO^);<]OIQ'E+7_`&#XE/\`-]+^G=G8O'K*&E?(
M\QB^O[ZBTMM$[*_76ROIL?ZD.<]**_FY_P"#<'X\?&?X[?!W]I75/C-\4?''
MQ0U'0/B7X.L-%OO&_B+4?$5UI5E=>%KRYN;2QEU&>=K:">=5FECB*J\@#L"<
M5_2*>A^AK\,XGR"OPOG^99!B*]+$U\MK0HU*]%2C2J.=&E63@I^\DE52UZI]
M#]@X=SNEQ%DN!SJC1J8>ECJ<ZD*-5J52"A5J4FI..C;=-O3HUU/X`_\`@XW^
M(2^+O^"BVH^$H9P\/PK^$?PZ\+W$(.1!JFN6M_X\N&;*KM>;3/%FC94%UV1Q
MON#.RK_4/_P0N^&;_#3_`()D_LZI<VS6^I^.K?QI\2M2++(AG3QCXWU^]\/7
M"K(<[9/"$7AS#H!'+M\Z/*R!F_A\_P""FGQ$N/C%_P`%"/VM?%T3F]%[\<?%
MOA72'CE%P;O2?`UZGP^\//"ZR.K)/I/AK3S"J.45&1$(4`#_`$>_V5/`<7PN
M_9E_9]^',$:10^"/@S\-?#"1HH4#^QO!^CV#$X51N9H&9SM!9B6;DFOWCQ6M
MDWA;X<\.I<DZU'#XRO"_O>TP^7QE73B[M*6)S"4]])1M=W/QGPV7]J^(G&^=
MN\HTJF(P]*35TH5\9RTK2[QHX3E7DS^*/_@XZ_9R@^%'[;>G?&/1;`6F@?M$
M^"--\1:@8(=EL/'/@V&V\)>(&'ECRHI=0TFT\-ZG,#MFN[^YU.]D#R2R2'\K
M?VF?VOO'/[3?@+]EOP3XN:Y\K]F[X*0?">VEEG,L>KW%EXDUI[37`"2XGD\%
MP^"M'O7F+RS:CHU]=[A'=(H_LT_X.*?V:Y/C)^PU)\6-$L/M7BG]G#Q;IOCB
M0Q1>9=3^!=>DB\+>,X(\8*QZ>;_1O$UU(S%8M.\/WY",[J5_B<_9"^".I?M(
M?M/_``)^!VF6TES)\1_B5X9T+4!&AD^S>'UOX[_Q/J,J#DVNE>'+/5=3O&'*
M6MI,XY`%?IWA3GF69MX?Y5F^:*G4QO!$,PPWUB;7M<-2P^#J0A*+Z*IEM6G2
MY7I)TXR=Y137Y[XBY1CLMXTS'+,#ST\-Q3+!5E2@FH5IUL13DU):ZPQD95'9
M:<UEI<_OO_X(D?LW+^S?_P`$]?@U9ZC8"Q\9?%J"]^-'C7<KK.U]X[:.X\,V
MDZRA98)M+\!VOA33KJU/RPZE;W[*H,SY_F+_`.#DOX;Q^$O^"@&E^-K:W\NW
M^*WP2\$:Y?3[0OVC7O#-_K_@NZ&54>9Y.A:)X:7S&=G&[R\*D<>?[R]$T?3_
M``_HNDZ!I5NEII>B:;8Z3IMK']RVL=-MHK2T@3K\L5O#&@]A7\D'_!TK\/V*
M_LG?%)(3A&^(G@.YF16*YF&A:_;)*P.!Q!<&'>.?WP0_?%?AOA/Q)6QOBZLT
MQ-3EGQ%5S>%9-JW^U0GBZ-)<SORPJ8>C"FKW2A%7:N?K_B3D-/!^&4<!AX)K
M)*>62IV6MZ,J>'JU';>3C5JSF^K;;/UD_P"""?Q,3XC?\$R?@;:2W`N-4^'&
MI_$/X;:L0Q;R6T3QQK>J:%;D-)(Z&'PAKOAM-K%0<;XT2%XE'TC_`,%(O!\_
MB/\`9UNM;M(6EN/!7B;0]=F$<9ED_LVYF?0[PA5!<)$^K6]W<2*"(K>VEE<"
M-'=/QQ_X-=_B!_:'[/7[2'PP>?#>%?B]HGC2U@9C@Q^-?"-GI%Y(BXP`)/!5
MJLC`@DN@QQFOZ9/&WA73O''A'Q-X0U:)9=.\2Z%J>AWJ.`5:WU*SFM9".I#(
M)"ZL,,K*&4@@$?CWCYPHLSS+Q(X8LH_VI/-/8?RJ>84_KV&:OLE.M#5;6=MC
MZ+A9+B'PYRR@Y-O$Y(L%=[JKAH2PJ;OL_:44W?HS\/?^"8_CFVT#XSZ_X.O+
MA(4\;^&9CIRR.%6;5-`<ZAY,0/WYY-/>_F`_YY6LI'H?LK_@J_\`LEWG[97[
M$?Q8^%OAV*)_B!H=O:?$CX:^:JG[1XS\$&;4;?1E9L")_%.CMK'A6.X9ECM9
M=:BO)LQV[*?QGNX/&'[/7QD>-'ET_P`6_#+Q>KPOAD6=M.NEEA<KA?-L-7L"
MI*Y,%WI]V5)>"8[OZ:/@[\4_#OQF^'GA[Q[X;N8I;76;-3=VHD#7&EZG#^YU
M+2[M.&CN;.Z22/#JOFQ>5<Q[X)HI'_ESZ*W'.(R>C6X7JU/JG$?!N<SS#!T*
MWNSE0CB8RJTU!V;6'Q<*D*T4KJ%9-[W.;PTS;EPN(R2N_9X[*\14G"G+23HR
MG::47K>E54E-:M<ZO8_S&/V2OVD?B!^Q7^TM\/?CIX3MYH?$/PX\220>(O#6
MH++:KKWAV[\[1?&?@_58)`KP'5-(GO[%7EC,NEZF+34H8Q>6$!7_`$KOV7/V
MHOA#^UY\'?"WQH^#?B:RU[P[XBLU:]T\7$`USPKK<0":GX9\3Z8KFYTC6M,N
M0T4EO=1H+JW-OJ5DUQIU[:7,W\UW_!9S_@B=XE\6^)_%?[6O['?A6;6]4UI9
M]?\`B_\`!?1Q#]OO-3A3?J7C7X=Z=^Z-]>:A"AOM>\(VC2W]_J,=UJ'A^WN[
M[43I9_F/^`_[3?[2?['WCFZ\1_!'XC^,OA)XLMKD6VMZ=;JHLKV6S<JVG^*?
M"&O6EYHNK+`X9)++7-(N?*(*F-&''^JN?Y!D/CGDF`X@X?Q^'P'$V!P\</B\
M-B&GRZ<[P>.A33JPA"K*4L+C(0J0<)M<DN?W/U^=.&+@IP:C-+K^,9+R?5?B
M?ZI?Y]:IWVHV&F65UJ.I7EKI^GV,$MU>WU[/%:VEI;0(9)KBYN9VCA@@BC5G
MDEE=(XU!9V`&:_AD\-_\'-'[<6DZ+;:?KWPN_9O\5:G;1B)]?N/#'Q!TB[O@
ML:*+C4++2_B1%I9NWD$DLS:;:Z79LK)'#8P;"TGYZ?M:?\%:/VWOVRK"\\-_
M$_XH1>'/AY?#;/\`#'X7Z9_PA?@NX0N7,>I;+O4?$WB"%LJGV;Q)XEUFU1(U
M\J&-FF:7\RRWZ/G&^)QBHYC/+,MP<9I5<9]:6*<J:=G+#T*45.<FM8QK/#IZ
M7DG=+G6"J-ZRBEWU?;;3UWML?Z!?[.O[:O[,7[5U[XZTSX"_%SPSX^U3X<>(
MK_PUXKTK3YIK;4K6XL9VA36+"TOHK:76_"NI;2^D>*]&6_\`#^H%9K>'4#>V
MMY:V_P!3U_`K_P`$7O\`@G)^UG\9?C-X,_:+\-^(OB#^SC\'/!>M6=Y=?%73
MH9M$UWX@VEI=02ZEX2\`V>JV[67B+3=4@2;3-7UZ^TW6/"%@YGMKFVU>_M9]
M)']]*\`9]*^%\1>%\FX2SYY5DN>0SFG&C"6(5HNM@:ZY5/#UZM->PJ3EK-*G
M:5*+4*L5*SEE7IQI248RYM-?)^=N^_D?PB_\'%W[)6L?"/\`:VM/VD-'TUS\
M._VBM'L);R\@3_1M(^)WA/3;71?$&F7.S/E'7-'M=&\26DTV/MM[<Z^D'R:>
MRK]2_P#!O1_P4H\(^`=.NOV'?C=XGTWPWIVJ>)+[Q!\!O$^OWT5AI@U;Q"Z3
M:[\,[B^N6BL[234]7677?"8N)4EU#6M8U?2(Y);BYTBSK^H/]K']E?X3?MD_
M!+Q9\#?C#H\E_P"'?$EJ7T[5;$QP>(/"'B*W61M'\6>&[Z2.9;/6-'NB)X1-
M#/87T/G:;JMG?:7=W=G-_GP_MY_\$NOVFOV"?%=U)XP\,ZAXP^$ES?3+X2^-
M/A.QN+OPQ?0)(6M;;Q&+;SY_!GB$0[';3=;-O#=N)GT6^U.*VN9(/VS@C/.'
M?$G@6GX=\2XV&7YSE\*=+*<55E",JT<*G'`U\,ZC4)XBA2?U:OAW+GKT>:47
M><N3KHU*=>C[&H[2226RVV:OUMOUOZW/]*]75U#(P96`964@@@C(((Z@CD'H
M1R*"2#TX]?\`)Z>OXU_G&?LV_P#!;'_@H+^S-H^G^%M`^*NG_$WP9I<<<.F^
M$_C/H*^-K.QAB"JEO;>(K:]T/QW!:)&@BCL$\6K8PIGR+:&0^97NOQ3_`.#B
MC_@HS\1M&FT?0-3^#GP;-Q";>?5_A=\.[U]9:)Q*LIANOB7XI^)$-E-(DBH+
MK3[:TNK?RHY;.:VN`TS_`!V(^CSQQ3QOU?#ULGQ&$<GR8YXRI2@H75G6H.A*
MM&;3OR4XUHJW\3JL7@JM[*46NCU7;=:^>U_U/]`#.>E%?S\_\$)?^"ENM?M>
M?"_7?@7\;/$5YKG[0/PDB;5%\3:O,9K[XD>`-1O&6UUFXN&.9O$7AR]F&DZW
M&0IN;"32=3@$ADU%;3^@:OR+B+(,PX8SG'9'F<(QQ>!J\DY0;=*K"45.E7HR
M:3E2K4Y1G!M*5G:2C)-+FJ0E3DX2W1_(?_P=2_Z[]A/_`*Y_M-_3[_[/O^?S
MKD?^#6[QYX0T3QG^V-X#U;7]-T[Q9XST3X$Z[X8T6\NHK>\UK3/!EW\7[3Q+
M/I\<KH;IM*F\8^'OM$,.^58[\3;/+CD9?UG_`."Y7[`?C;]MS]G'PSK/PCTO
M^WOC%\"-9UOQ1X5\-QRP0WGBSP[XAL;*V\8^&=+ENI8+;^UKL:-HFJ:;!)-&
M;V[T:*PB<2W2*_\``5<6_COX7^*;BVNX?%WP[\:Z#=7%G=VUQ'K/A'Q1HM["
MS075I<0R+I^K:==1,KPW%O*L,J,&CD0$$5_4?A[@<LX]\'9\$4\TIX/,*%?$
M1Q*:C4JX>2SJ6;X6L\.YPG5H5$X0<HRBKJI%2YHGH45&KAO9*5I;/NE=.]NO
M;[C_`%J\CU'YBC(]1^8K_*#_`.&@?CQ_T6_XN_\`AR_&?_R[H_X:!^/'_1;_
M`(N_^'+\9_\`R[KY[_B6G,O^BLP'_AMK_P#S5Z_TM8^HO_GY_P"2_P#!]?Z6
MO^KYD=N?ISCZU_(E_P`'4OW_`-A/_=_:=_G^SW7ZJ_\`!!#Q-XC\7?\`!-OX
M8ZWXJ\0:WXGUF?QQ\68I]7\0ZM?ZUJ<T5OX\UB*WCEU#4KBYNI(X(E6*%'E*
MQ1JJ(%4`#F_^"Z?[!/C+]M3]FKPWK_PET>;Q#\8O@)K6M^*_"_ANT`?4O%GA
MCQ!I]E:^-?#&CQ,Z+/K%W_8OA_5]-M4W7&H7.A+IEJCW-[$C?G'!#PG!/BQ@
M,/FF,I_5LFSG,LJQ&.Y?947*6'QN6PQ$E*4O94G6JPE-RD_9P;<G9-F%*U+$
M*,G=1DXWVUVON?DA_P`&NGQ,\&>'/'_[77PVUS7=.TOQ9X_\/?!;Q'X4TR^O
M(;6?6K'P#??%*R\2+IRS,@N[FQ;QUH4TEM"S7'V:66X6)X8)WB_LKR/4?F*_
MR2Y(_%W@#Q%)%*GB3P3XMT.ZFMY8I%U/PWXBTB]A=X+B"1&^Q:E8743I)#-&
MPBE1E>-U!#+7<?\`#0/QX_Z+?\7?_#E^,_\`Y=U^[\=>"%3C+B3&\2X'B+#8
M2&9PPLZE"KA)XF*G0PM#"QG2K4L1",J=2E0A*W+HVVFTSKK87VLW/GM=+2U]
MDD?ZOF1ZC\Q0"#T-?Y0?_#0/QX_Z+?\`%W_PY?C/_P"7=?WI?\$`O$_B7Q?_
M`,$Y/!.M>+/$.N^*-8E^)7Q5@DU;Q%JVH:WJ<D%OXGD2WA>_U.XN;IXH8_DA
MC:4I&GRH`.*_%N/_``?Q?`62T<YKYYA<RA5Q]'`*A1PE6A)2K4<1651SG6J+
MEC]7:<>6[YUKH[\M;#>QAS\_-JE:UMUZ^1^Q6O\`BWPMX4&E'Q1XDT'PX-=U
M2'0]$.NZOI^DC6-:N(+FZ@T?2S?W%N+_`%2:ULKRYBL+4RW<EO:7,R1&."5E
MWPR,`P8$'!!!X(/0\=0<Y],5_+#_`,',\?QYU[P;^S=HO@7X=^/=5^$GA76_
M%_C[QSX\\,Z/J>J:'HOC6.WTS0?!5MK%[I$<[^'KG3]+O/%5S:WVJ+:VMZVL
MQQ:?=/<V=W&O\VGPN_X*:?M^?!"R@T7P#^U+\6-(TRQ016^BZ[J\'B_3K15Q
MA8M+\;66OVL!X`.V!21\I^7BM>%/!C'\8<-83/<KSW+:>*Q%7$1JY;BN>]"%
M&O.C"4ZU!UI0G4C#VBISPZ]V46Y78Z>%=2G&:FDW>ZM=+_@];=K'^CW^TCKO
MPQ\.?`'XPZQ\99-*C^%]G\./&#>-TUAX197/A^30[V/4+$K.RK-=7\+&SL+:
M/-S<WTUO!:JUR\2G_*=M+6YO[JVL;&WFN[R]N(+.TM+>-I;BYNKF588+>&)`
M7EFGE=(XXU4L\CA1DL*^N?CK^W3^V5^UA:0^&_C7\>/B-\2]':Y2XA\)-<0:
M?X>ENP?W<O\`PBOA>PTK1IYU;'E,VG.ZD*$QA<?M/_P1H_X(V_%KQU\4OA]^
MU3^TMX-O_`'PB\#ZE:>,/`W@CQ;I\VG>*_B/X@TZ2*[\.:E=>'[Z&.[TCP=9
MWBQZK'=ZG%;7.NM;6?\`9MO)IMR-0/[-PKD>&\%.&.(<?Q+G>#KXW,81E0R_
M"SER5*M"E5C0H8>%50J5\17G4M.I[&$*<%[S<(RD=5.,<+3DYR7,]4DWKI:U
MNNOR5C^VB[L;._M9K*_M;>^L[B-HKBUNX8KFWGB<$/%-!*KQ2QL"0R.K*P."
M#7SOXA_8Z_91\570O?$/[.'P4U6\\U)C<W'PU\)>:TR!@LCO'I2,[`,02Y;/
M&[)`-?25%?QQ0Q>*PK;PV)Q&';W="M4I7]>24;_,\*MA,+B/]XPU"O\`]?:-
M.I;KISQ?4\V\#?!SX2_#(./AU\,O`/@5I%:.63PEX1T'P]/-&S[RDT^E6-K-
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MTG5C:U5TX.HK;6FUS*W2S"BBBLC4*Y'Q=\/_``'\0+2&P\>>"O"7C6QMI?/M
M[+Q;X<T?Q':03@$":&VUBSO(8I<$CS$17QQNQ7745<)SIR4Z<YTYK:4).,EZ
M2BTU]Y$Z=.I%PJ0A4B]XSBIQ?JI)H\/_`.&9/V;?^C??@C_X:GP)_P#*&C_A
MF3]FW_HWWX(_^&I\"?\`RAKW"BM_KV-_Z#,5_P"%%7_Y,P^H8'_H#PO_`(3T
M?_D/)?<<;X.^'7P^^'=O>VGP_P#`O@[P-::E-'<ZA:^#_#.B^&K>_N(4,44]
MY#HME91W4T49,<<LZNZ(2BL%.*[*BBN><YU).=24ISEK*4Y.4GTUDVV]--6;
MPIPIQ4*<(4X+10A%1BK]HQ22^2/&I_V<_P!GRZOIM3N?@5\'+C4KBZ>^GU"?
MX9>"IKZ>^EE-Q+>37<FB-<274D[-,]P\C3/*3(SER37L4<:1(D42+''&BQQQ
MHH5$1`%1$50%554!54`````8I]%74K5JJBJM6K44-(*I4E-13MI%2;Y=EM;9
M=B:="C2<G2HTJ3F[S=.G"#D^\G%+F>O6YFZQHVD>(=+O]#U_2M.US1=5M9K'
M5-(U>QMM2TO4K*X0QW%G?V%Y%-:7EK/&2DUO<1212H2KHRDBO/?#?P+^"7@[
M6;/Q'X0^#WPM\*^(=/\`M`L-=\.?#_PGH>LV0N[::RNA::GIFDVM[;"YL[BX
MM+@0SIYUM/-!)NBE=&]4HHC6K0A*G"K5A3G?GA&I*,)W5GS132E=:.Z>F@3H
M4:DXU)T:4YP^"<Z<)3CK?W9--QUUT:U"N/\`&'P]\`_$.UM+'Q_X'\(>.+*P
MG>ZL;/Q?X:T;Q+:V5S(GEO<6EOK-E>Q6\[Q_NVEA1)&3Y"Q7BNPHJ(3G3DIP
ME*$XN\90DXR3[J2::?HRYPA4BX5(QG"6CC.*E%^L6FG\T<-X.^&'PU^'9OC\
M/_AYX'\#'4Q"-2/@_P`)Z#X:.H"W+FW%Z=%L+(W8@,DAA$_F",NY3&XY[FBB
MG.<ZDG.I.=2;M><Y.4G965Y2;;LDDKO84*=.E%0IPA3@MH0BH15]7:,4DM>R
M/S(_X*`_LKW?Q)TA?BYX!TT7/C/PS8,GB32[2-1=^)/#]HID6XA52INM5T6)
M9&@A&ZYO++-G`)9H;2!OS+_9=_:?\3?LW^+)9XX9M:\$ZU-''XJ\,-.T+94I
M%_:^F%@T<&KV4:@8D3RKVW0V<[Q9@N;7^FH@,"K`$$$$$9!!Z@BOS!_:J_X)
M^Z9\0KN]\>_!W[!X=\77!DN-9\,S?Z-H7B*<@L;JS=04T?4Y#GSMJ&QO7;S9
M5MYS+/-_+WBMX5Y_A\^I^)/AM.=#B'#35?,LNH-*6-E!)2Q&'IOW*U2K33AB
M\+)6Q,;RC>HVI_FW%/"^/ACX\2<-MT\QI-3Q.&A9/$-))U*<7[LYRC=5J3TJ
MJ[5YMW^\OA;\7?`'QD\,VWBGP'X@LM8L)T475JDL:ZEI-SM!DL=6L"WVFPNX
MR<B*X1?-B*7%NTMO+%*_S!^TQ_P35_8I_:WFNM2^-/P-\,:KXINHBA\;^'7O
M?!OC4/G<D\OB/PO<Z9?:A(CX;9JK:A;S!1%<P3P9B/X<.OQH_9R\9M&X\6?#
M+Q;:D-TN=/6_MU<A98VYL-9TUW#*DL;7=E(P<*[,&`^U/AY_P4\^+'A^&&T\
M?>%/#GCZ&)43^T;2:;PMK3C@-)<R6T.HZ5<LJY*QPZ58>8>))LMO7MX)^E)@
M\LK4J'%5+.>#.(L):CB<;@H8N%!SC92DX4+8[#\S5Y4G2K0W]_ET*RKQ*P<;
M8?/*&(RK&T[1JSC2J3HN2LFW"*=:D[Z\KA-+^8\SU'_@V5_8*O;ZXNK;XF?M
M5Z3;S2[H],L/'WPMELK5,+^ZMY-5^"NIZB\>1DFZO[B7EOWF,`?77P"_X(??
M\$[/@!>V&M6'P>N?B;XFTZ2*6V\0_&+Q!=>-Y5FA*-',OA\0Z7X*BG21?,2:
M#PO%*K$@2>7M1;\'_!5;P6T*&Z^%7BB.?&9$@U;2YHE8'@)+(('88P26B3GC
M!'-<=XK_`."J]S);30^"?A/'%=O&WV>_\3^(&>"!^=CRZ7I=FKW2@X)1-7M,
M\@2#@C]?S'Z7&0UL#4ABO%#-L50G"TL/1EG#J5HM?!*-.A&3YEHU4DHW;4VD
MSZ*IXA<.1@Y/.$[*_+3HXAU'L[65%--[/F<=;W:/U^BATCPYI45O!%IVBZ+I
M5LD<$,,=MINF:;8VL>U8XH8Q#:VEI;0H`J(L<,48``55Q7Y._M7_`/!0>TL8
M;_X?_`/4TNM2+M:ZO\0K<"2SLE1L3VWA=W)CN[I\&)M8,<EK"C.^G^;*8;R'
M\\?BG^U!\=/CM,=+\4>)[R73;^=(+?PAX7M9-.T>9YI`(;1-/M&FO-29Y)!'
M$NH7.H7$C%$WN0@7Z'^`?_!._P")'Q($&N_$N2]^&WA::%Y8+.:V0^++YGB/
MV?&G7(V:3"9"DLCZE&;EHU:);)&E$T?\X\1^,?&/B55J\-^%&29G2I5W*&+S
MZM'V.)5-VYO9UN;V&71G?6M5K^WDG:"A)Z?%9AQAG'$DIY;PG@<5",]*N/FE
M"HH]>2?-[+#)_P`\ZG.[^[RMH^^/V3_VX/"GQAT_3/!GCV]L_#/Q/@@CM?\`
M2I(K/2?%L\0V"XTB9W6./4+D8DFTAMDAE:3[")HE(7[RU;2-'\1:7>:/KNEZ
M=K>CZG;O::CI6J6=MJ6FW]K,N);:]L;N.:UNK>1>'AGBDC8?>4BOYK/CK^R#
M\7_@/=76H7^DW'B/P=;2[[;QKX?@FGLH(=^(9-7@C\RYT28?)N:ZS:!RJQ7D
MKD"MGX4_MT?M`?"R*WT^/Q';>,]"@\N-=(\:03ZFT4*_+Y=KJL-S::O`0@Q$
M'O)X`WS/;2#@]/"WCWG'!\Z7#?BKDN:8/,,"XT:>=4:#]K5A3:C"KB*3<%7<
M4E)XK"3G[32:IN3N],KX[Q>4-99Q7@L50Q%"U-8V%*[G&*45.K"Z5335UJ+E
MSI_`WO\`H!\7?^"+G_!-[XS7]UK'B#]G+1?#6M74KS3:G\.->\3?#UGGE.Z2
M:33O"VK:?HEP[DY+76EW&#DJ%/->*^$O^#?/_@FCX7U1-2O_`(:^/?&8B>-X
M=.\6_%+Q7)IBR1ECE[;0+GP^UTCDCS(;R6YMV"*IAVEP_=Z%_P`%6=--NB^)
M?A#?VURJ@.^B>)8+Z"5\'++'?:=I[PJQY"&2<H#MWN1DZUW_`,%5?"2PDZ?\
M)_$<]SNRD=WKFFVD!/;?-##>R+SC.(&XR1Z5_0.%^EAPY1P2I8?Q2SBAA53:
M5!U\]A.G#E2]G&FZ7M865DHPLD_AWN_L(^('#3IJ2SF*C;X72Q*FMFUR.CS7
M6FW79NY]Z_!3]FCX!?LY:0^A_`_X1^!/AEITD:QW'_"*>'['3KZ]1"&`U'5$
MB.I:@`PWXO+N<>83)C>S,?4)O%?ABWUZW\,W'B'1H?$=Y:27MIH4NI6D>L7%
MG"ZI-<P:<THNY8$=@K3+$45LKNR#C\*?B)_P4;^-OC=;C3_"EIH?PXTJX7:6
MTI9=8\1!7#!E.MZ@([6,!2FR2QT6QN4<,?M#*P5?FJU?X@Z@_P#PLB^'B^Y$
MFJ!&\<S1ZN\7]K*%9(E\1;/*2^1%.R%+M9412$157`_)<^^DUE6+QS_U>R[-
MN*)^U57,,QQ7MZ,?JR:=2I!U(U<5*?+>U3$TZ4(2:3YCP,9XDX%U53RO"8G,
M>5QE6K3C.C35+1S<$XRJ-V=E*I&$4UK=']1@SD^G&#ZUYEXF^"OP:\;:DVL^
M,?A-\,_%NL.BQOJOB;P+X7U[4FC4`(C7VJ:7=W3(H`"J92H```XK\GOA7^V=
M\8O#$5OIVLWECXUTN':BQZ]$Z:FD:X^6+5[-HIV8YQOOXM0V@`(JXY^R?#_[
M:NE:I$OV[P+?V<[A05L]6MKR$$EA_K)K:Q;I@Y\KOCM7W_#OC1PAFU*%6GC\
M9E.)G%*>'Q-&O"I%NS<?;X95*4H]O?BWNX+8^@P'&638V":KU,+4:UIUJ<TU
MM?WZ:G!I-Z>\FUK9;+W?_AF7]F__`*-^^"7_`(:KP+_\H:/^&9?V;_\`HW[X
M)?\`AJO`O_RAKDK']I+3]31!9>&;P.RYQ<WL$:@=!\T4<Y/.<_(,8Z'/':Z1
MXWU?7Y$WK!9PL?\`4VX8M@G&&FE)+''`,:Q@Y.4X&/O,/QIA,9*,<'FN*Q3G
MHO9U<2E?3>4W%==;7MV/;I9MA:[2HUY5.9I+EY^O^*WX7/1?#/A'PIX*T>'P
M_P"#/#6@>$M!MY9YK?1?#&CZ=H.D037,K37,L.FZ7;6ME%)<3.\L[QPJTTK-
M)(6<DUT506QS!$3R=HS_`/7]_4GD]:GKU>=U/?DW*4_><I-N3<M6VWJV[ZM[
ML[;WU[ZZ^9Y=XD^!_P`%O&6J2ZYXO^$/PP\5:U.J)/K'B3P%X5US5)DCR(TE
MU#4]*NKN14!(17F(7)V@9K!_X9E_9O\`^C?O@E_X:KP+_P#*&O;Z*Z8XS&12
MC'%8F,8I)1C7JI)+1))2LDNB17/+^:7WO_,\0_X9E_9O_P"C?O@E_P"&J\"_
M_*&O3?"_A#PGX'TF/0/!?ACP]X1T*&::XAT7PQHVG:!I,4]R_F7$T>G:5;6E
MG'-<2'?-(D(>5_FD9FYKHJ*FIB<16CRU<17JQO?EJ5:DXW5[.TI-75WKOJQ.
M4GNV_5MD<L44\;Q31I+%(K))'(H=)$<%71T8%61E)5E8%6!P017S3XS_`&,/
MV2_B%<RWOC/]G#X+^(;RX#"XN[_X=^%S<S[RI9I9X=-BEE=BBDO(S,<<MUKZ
M:HIX?%XO"2<L+B<1AI/>6'K5*+?JZ<HM_,%)K9M>C/G[X?\`[*'[,WPJNH;[
MX<_`3X2^#;^V\O[-J&A>`_#=EJ%N8@BQFWOTT_[9`R"-,-%.C94$DFO?QTQC
M`[#V^E.HJ:^)Q&*GSXFO6Q$[6YZ]6=65NW-.4G^(-M[MOU"BBBL1!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%,?I^/]#1
M10!RWB_P5X1\;Z7)I7B_PUHOB73VW'[+K.GVU_$CE2/,A^T1NT$N.!+"T<@!
M(##)K\C_`-J+]G+X+>$K:]U+PUX&L]%NU:4*;'5-?BMU"PS.`ME_:ILEPR@_
M+;C.,'(XHHK\:\6LGRG%Y:Z^*RO+L374=*V(P6&K55K%:5*E*4U\F?)<5X/"
M5L%*I6PN&JU%RVJ5*%*<U[R6DI1<EIIOL?D?=HL5S<QH"J1SW"(-S'"QRLJ#
M)))PH`R22>I)-?8_[,?PH\`?$'4+2/Q?H`UA&7<RMJ>LV08K-=`;AINHV>1B
M)`5/RG;R#ELE%?RWP]D^45<XPU.KE>75:;J6<*F!PTX/WEO&5)Q?S1^6Y7@\
M'/'8>,\+AIQ=2*<94*4HOWENG%IG[H_"CX(?"3X=V5K>>#/A_P"&]"OFAC)U
M&WL%GU/+(%?&I7K7-^N]21(%N`'!^?->YC@X'0`8'YT45_=W#V"P>!RK"4L%
MA,-@Z?L8/V>%H4L/#9?8I0A'\#]TP5&C0PU&%"E2HP]G!\M*G"G'9?9@DOP(
MO+CEC:.5%D1LJR.`RL",$$'@@C@@\&OC3XW?LR?`77[*YU;4/ACX<CU*9B\M
MYI27N@3R.?F+.VA7>F[F9OF8D98DELDFBBO)XVRW+LPR>NL?@,%C5&+LL7A:
M&)2UCLJU.:7R.;-\-A\1A*BQ%"C72CHJU*%5+WH[*<9)'X-_&+POH?A7Q#+8
MZ#8FPM5NKV(1?:KRZPD2P&-=][<7$GREVYW[CG!)`&.3\!Z58:QXDM+#4H/M
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M4KTXWYE"*YK];WN?)7Q:^`7P>CMKS5+;P'I%A>F.6<RZ6]_I*F4`88P:;>6M
MN1_L^5L_V:^#+G3K/3-<:TL8?(MTVE8_,EEQB:5?OS/(YX4=6/(SU)-%%?G?
M%>5971S;FHY;@*4I3;E*E@\/3E)\V\G"FFWYL^;SK"X:GC$Z>&H0<FFW"C3B
MV]-6U%7?J?1_PNLK:^O88KJ/S8\)\N^2/JTF>8G1NP[U]^>%]`T>QMHGMK"*
M-MBG<S22MRN3\TSR'J/6BBOT'@[#X>-)RC0HQDHJTE2@FO1J-T?0Y+3IJ":I
KP325FHQ36G1I'9C[S?\``?Y4ZBBOT0^@"BBB@`HHHH`****`"BBB@#__V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
