<SEC-DOCUMENT>0001437749-22-014994.txt : 20220615
<SEC-HEADER>0001437749-22-014994.hdr.sgml : 20220615
<ACCEPTANCE-DATETIME>20220614175322
ACCESSION NUMBER:		0001437749-22-014994
CONFORMED SUBMISSION TYPE:	NT 10-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220331
FILED AS OF DATE:		20220615
DATE AS OF CHANGE:		20220614
EFFECTIVENESS DATE:		20220615

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRIEDMAN INDUSTRIES INC
		CENTRAL INDEX KEY:			0000039092
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310]
		IRS NUMBER:				741504405
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		NT 10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07521
		FILM NUMBER:		221016014

	BUSINESS ADDRESS:	
		STREET 1:		1121 JUDSON RD
		STREET 2:		SUITE 124
		CITY:			LONGVIEW
		STATE:			TX
		ZIP:			75601
		BUSINESS PHONE:		9037583431

	MAIL ADDRESS:	
		STREET 1:		PO BOX 2192
		CITY:			LONGVIEW
		STATE:			TX
		ZIP:			75606
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-K
<SEQUENCE>1
<FILENAME>frd20220614_nt10k.htm
<DESCRIPTION>FORM NT 10-K
<TEXT>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>WASHINGTON, D.C. 20549</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

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			<td style="width: 30%; text-align: center;"><b>FORM 12b-25</b></td>
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			<td style="width: 20%; text-align: center; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0);"><b>SEC FILE NUMBER</b></td>
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			<td style="width: 20%; text-align: center; border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">1-07521</td>
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			<td style="width: 20%;">&nbsp;</td>
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			<td style="width: 30%; text-align: center;"><b>NOTIFICATION OF LATE FILING</b></td>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 20%;">&nbsp;</td>
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			<td style="width: 20%;">&nbsp;</td>
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			<td style="width: 20%;">&nbsp;</td>
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			<td style="width: 20%; text-align: center; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">358435105</td>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 0pt;"><i>(Check One)</i>: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#9746;<b> </b>Form 10-K &#9744; Form 20-F &#9744; Form 11-K &#9744; Form 10-Q &#9744;<b> </b>Form 10-D &#9744; Form N-SAR</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 72pt;">&nbsp; &#9744; Form N-CSR</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 90pt; text-indent: 27pt;">For Period Ended: <u>March 31, 2022</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 90pt; text-indent: 27pt;">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transition Report on Form 10-K</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 90pt; text-indent: 27pt;">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transition Report on Form 20-F</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 90pt; text-indent: 27pt;">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transition Report on Form 11-K</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 90pt; text-indent: 27pt;">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transition Report on Form 10-Q</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 90pt; text-indent: 27pt;">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transition Report on Form N-SAR</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 90pt; text-indent: 27pt;">For the Transition Period Ended:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; </u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 90pt; text-indent: 27pt;">&nbsp;</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><i>Read Instruction Before Preparing Form. Please Print or Type.</i></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.</b></p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;text-indent:9pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>PART I </b>&#8211;<b> REGISTRANT INFORMATION</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Friedman Industries, Inc.&nbsp;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Full Name of Registrant</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">N/A</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Former Name if Applicable</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">1121 Judson Road Suite 124</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Address of Principal Executive Office (<i>Street and Number</i>)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Longview, Texas 75601&nbsp;</p>

<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<p>City, State and Zip Code</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><b>PART II - RULES 12b-25(b) and (c)</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(a)</p>
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			<td style="vertical-align: top; width: 90%;">
			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</p>
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			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9746;</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(b)</p>
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			<td style="vertical-align: top; width: 90%;">
			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the&nbsp;fifteenth&nbsp;calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">(c)</p>
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			<td style="vertical-align: top; width: 90%;">
			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The accountant&#8217;s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>PART III - NARRATIVE</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q,10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Friedman Industries, Inc. (the &#8220;<u>Company</u>&#8221;) has determined that it is unable to file with the Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended March 31, 2022 (the &#8220;<u>Form 10-K</u>&#8221;) within the prescribed time period without unreasonable effort or expense. The Company is still preparing analyses and providing documentation requested by its auditors in connection with its audit for the year ended March&nbsp;31,&nbsp;2022. The Company expects to file the Form 10-K no later than fifteen calendar days following the due date of the Form 10-K.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>PART IV - OTHER INFORMATION</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name and telephone number of person to contact in regard to this notification</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 28%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">Alex LaRue</p>
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			<td style="vertical-align: top; width: 4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 28%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">903</p>
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			<td style="vertical-align: top; width: 4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 27%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">758-3431</p>
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			<td style="vertical-align: top; width: 4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">(Name)</p>
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			<td style="vertical-align: top; width: 4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 28%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">(Area Code)</p>
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			<td style="vertical-align: top; width: 4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 27%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: center; margin: 0pt;">(Telephone Number)</p>
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			<td style="vertical-align: top; width: 4%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: -36pt; text-align: right;">Yes &#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No &#9744;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">&nbsp;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: -36pt; text-align: right;">Yes &#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No &#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;text-indent:9pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 0pt;">If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;">For the prior fiscal year ended March 31, 2021 (&#8220;Fiscal 2021&#8221;), the Company reported net earnings of $11,424,475 on sales of $126,102,533. The Company experienced a historic rise in steel prices during Fiscal 2021 which positively impacted earnings due to significant margin improvement. This historic rise continued into the fiscal year ended March 31, 2022 (&#8220;Fiscal 2022&#8221;) until declining in the second half of Fiscal 2022 resulting in periods of both increasing and decreasing margins during Fiscal 2022. The Company expects to report net earnings of approximately $14,000,000 on sales of approximately $285,000,000 for Fiscal 2022. A more detailed discussion of results of operations will be included in the Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations in the Company&#8217;s Form 10-K to be filed.</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><u>Friedman Industries, Inc.</u></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">(Name of Registrant as Specified in Charter)</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.</p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 9pt;">Date: June 14, 2022</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><u>/s/</u>&nbsp;<u>Alex LaRue</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt;">Alex LaRue</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt;">Chief Financial Officer,<br>
			&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secretary and Treasurer</p>
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