<SEC-DOCUMENT>0001387131-15-003721.txt : 20151223
<SEC-HEADER>0001387131-15-003721.hdr.sgml : 20151223
<ACCEPTANCE-DATETIME>20151223172329
ACCESSION NUMBER:		0001387131-15-003721
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20150615
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151223
DATE AS OF CHANGE:		20151223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RICHARDSON ELECTRONICS LTD/DE
		CENTRAL INDEX KEY:			0000355948
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
		IRS NUMBER:				362096643
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0601

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12906
		FILM NUMBER:		151306514

	BUSINESS ADDRESS:	
		STREET 1:		40W267 KESLINGER RD
		STREET 2:		PO BOX 393
		CITY:			LAFOX
		STATE:			IL
		ZIP:			60147
		BUSINESS PHONE:		630 208-2200

	MAIL ADDRESS:	
		STREET 1:		40W267 KESLINGER ROAD
		STREET 2:		P.O. BOX 393
		CITY:			LAFOX
		STATE:			IL
		ZIP:			60147
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>rell-8ka_061515.htm
<DESCRIPTION>AMENDMENT TO CURRENT REPORT
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin-top: 1.35pt; margin-bottom: 0; text-align: center"><FONT STYLE="letter-spacing: 1pt">UNITED
STATES</FONT></P>

<P STYLE="font: 18pt/20.35pt Times New Roman, Times, Serif; margin-top: 0.9pt; margin-bottom: 0; text-align: center"><FONT STYLE="letter-spacing: 1pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: bold 12pt/13.45pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Washington,
D.C.<FONT STYLE="letter-spacing: -0.9pt"> </FONT>20549&nbsp;</P>

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<P STYLE="font: bold 12pt/13.45pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 2.65pt; margin-bottom: 2.65pt; text-align: center"><B>FORM<FONT STYLE="letter-spacing: -0.1pt">
</FONT>8-K/A</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 2.65pt; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Amendment
No. 1)</B></FONT></P>

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<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin-top: 0.4pt; text-align: center; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 3.2pt; margin-bottom: 0; text-align: center"><B>CURRENT<FONT STYLE="letter-spacing: -0.35pt">
</FONT><FONT STYLE="letter-spacing: -0.15pt">REPORT</FONT></B></P>

<P STYLE="font: bold 12pt/103% Times New Roman, Times, Serif; margin-top: 9.15pt; margin-bottom: 0; text-align: center">Pursuant to
Section 13 or 15(d) of<FONT STYLE="letter-spacing: -0.65pt"> </FONT>the</P>

<P STYLE="font: bold 12pt/103% Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0; text-align: center">Securities Exchange Act of<FONT STYLE="letter-spacing: -1.3pt">
</FONT>1934</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 9.05pt; margin-bottom: 0; text-align: center"><B>Date of Report (Date
of earliest event reported): June 15,<FONT STYLE="letter-spacing: -1.1pt"> </FONT>2015</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 9.05pt; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14.5pt Times New Roman, Times, Serif; margin-top: 0.55pt; text-align: center; margin-bottom: 0"><B>&nbsp;</B><IMG SRC="image_001.jpg" ALT=""></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 24pt/26.35pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 1pt"><B>RICHARDSON
ELECTRONICS, LTD.</B></FONT></P>

<P STYLE="font: bold 10pt/10.25pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of
registrant as specified in<FONT STYLE="letter-spacing: -0.95pt"> </FONT>charter)</P>

<P STYLE="font: bold 10pt/10.25pt Times New Roman, Times, Serif; margin: 0 26.35pt 0 55.3pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt/10.25pt Times New Roman, Times, Serif; margin: 0 26.35pt 0 55.3pt; text-align: center"></P>

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<P STYLE="font: bold 10pt/10.25pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>





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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: -0.05pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 2%; padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0-12906</B></FONT></TD>
    <TD STYLE="width: 2%; padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>36-2096643</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(State
    or other<FONT STYLE="letter-spacing: -0.3pt"> </FONT>jurisdiction</B></FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>of incorporation)</B></FONT></FONT></TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(Commission</B></FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>File<FONT STYLE="letter-spacing: -0.45pt"> </FONT>Number)</B></FONT></FONT></TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(IRS
    Employer</B></FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Identification<FONT STYLE="letter-spacing: -0.85pt"> </FONT>No.)</B></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>40W267
    Keslinger Road, P.O. Box 393, LaFox,<FONT STYLE="letter-spacing: -0.2pt"> </FONT>Illinois</B></FONT></TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>60147-0393</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(Address
    of principal executive<FONT STYLE="letter-spacing: -0.5pt"> </FONT>offices)</B></FONT></TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-top: 3.7pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(Zip
    Code)</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registrant&#8217;s
telephone <FONT STYLE="letter-spacing: -0.2pt">number, </FONT>including area code: (630)<FONT STYLE="letter-spacing: -0.9pt">
</FONT>208-2200</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8.95pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Former
name or former address, if changed since last<FONT STYLE="letter-spacing: -1.35pt"> </FONT>report.)</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of<FONT STYLE="letter-spacing: -1.55pt">
</FONT>the registrant under any of the following provisions (see General Instruction A.2.<FONT STYLE="letter-spacing: -1.2pt">
</FONT>below):</FONT></P>

<P STYLE="font: 10pt/204% Times New Roman, Times, Serif; margin: 7.95pt 94.65pt 0 8pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<FONT STYLE="letter-spacing: -0.85pt">
</FONT></FONT></P>

<P STYLE="font: 10pt/204% Times New Roman, Times, Serif; margin: 0pt 94.65pt 0 8pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR<FONT STYLE="letter-spacing: -0.85pt"> </FONT>240.14a-12)</FONT></P>

<P STYLE="font: 10pt/204% Times New Roman, Times, Serif; margin: 0.5pt 5.85pt 0 38pt; text-indent: -30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR<FONT STYLE="letter-spacing: -1.1pt"> </FONT>240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt/204% Times New Roman, Times, Serif; margin: 0.5pt 5.85pt 0 38pt; text-indent: -30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR<FONT STYLE="letter-spacing: -1.1pt"> </FONT>240.13e-4(c))</FONT></P>


<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;<FONT STYLE="letter-spacing: -0.05pt"><B>&nbsp;</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1.35pt 24.45pt 0 55.4pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 39.4pt 8pt 39.35pt; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 11.4pt 8pt 6.95pt; text-indent: 29.05pt">Richardson Electronics,
Ltd (the &ldquo;Company&rdquo;) filed a current report on Form 8-K on June 17, 2015 (the &ldquo;Original Form 8-K&rdquo;) to report,
among other things, the completion of its acquisition of International Medical Equipment and Services, Inc. (&ldquo;IMES&rsquo;).
This Current Report on Form 8-K/A amends and restates in its entirety Item 9.01 of the Original Form 8-K to include the required
financial statements and to present certain unaudited pro forma financial information in connection with the acquisition, which
are filed as exhibits 99.1 and 99.2 hereto, respectively. The information previously reported in the Original 8-K is not hereby
amended and is hereby incorporated by reference into this Form 8-K/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 7pt"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 -11pt 20.55pt; text-indent: -13.55pt"><FONT STYLE="font-size: 10pt">(a)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 8pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><U>Financial
statements of businesses acquired</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 11.4pt 8pt 6.95pt; text-indent: 29.05pt">The audited financial statements
of IMES as of and for the years ended December 31, 2014, and December 31, 2013, and the unaudited condensed financial statements
of IMES as of and for the three-months ended March 31, 2015, and for the three months ended March 31, 2014, are being filed as
Exhibit 99.1 to this Current Report on Form 8-K/A and are incorporated herein by reference.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 -11pt 21.15pt; text-indent: -14.15pt"><FONT STYLE="font-size: 10pt">(b)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><U>Pro
forma financial information</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 13.4pt 8pt 7pt; text-indent: 29pt">The unaudited pro forma condensed
combined financial information relating to the Company&rsquo;s acquisition of IMES is filed as Exhibit 99.2 to this Current Report
on Form 8-K/A and is incorporated herein by reference.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.6pt; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: -11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(d)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt"><U>Exhibits.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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    <TD STYLE="width: 10%; font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Exhibit
    No.</U></B></FONT></TD>
    <TD STYLE="width: 2%; font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 88%; font: 10pt/107% Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex23-1.htm">Consent of BDO USA, LLP, Independent Registered Public Accounting Firm.</A> </FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex99-1.htm">Audited consolidated financial statements of IMES as of and for the years ended December 31, 2014 and December 31, 2013, and the unaudited condensed financial statements of IMES as of and for the three months ended March 31, 2015, and for the three months ended March 31, 2014.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex99-2.htm">Unaudited Pro Forma Condensed Combined Financial Information.</A> </FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.65pt 4pt 0 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.65pt 4pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.65pt 4pt 0 0; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 2.4pt; margin-bottom: 0; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIGNATURES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.3pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/103% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to<FONT STYLE="letter-spacing: -0.1pt"> </FONT>the<FONT STYLE="letter-spacing: -0.1pt"> </FONT>requirements<FONT STYLE="letter-spacing: -0.05pt">
</FONT>of<FONT STYLE="letter-spacing: -0.05pt"> </FONT>the<FONT STYLE="letter-spacing: -0.1pt"> </FONT>Securities<FONT STYLE="letter-spacing: -0.05pt">
</FONT>Exchange<FONT STYLE="letter-spacing: -0.65pt"> </FONT>Act<FONT STYLE="letter-spacing: -0.05pt"> </FONT>of<FONT STYLE="letter-spacing: -0.05pt">
</FONT>1934,<FONT STYLE="letter-spacing: -0.05pt"> </FONT>the<FONT STYLE="letter-spacing: -0.1pt"> </FONT>registrant<FONT STYLE="letter-spacing: -0.05pt">
</FONT>has<FONT STYLE="letter-spacing: -0.05pt"> </FONT>duly<FONT STYLE="letter-spacing: -0.05pt"> </FONT>caused<FONT STYLE="letter-spacing: -0.1pt">
</FONT>this<FONT STYLE="letter-spacing: -0.1pt"> </FONT>report<FONT STYLE="letter-spacing: -0.05pt"> </FONT>to<FONT STYLE="letter-spacing: -0.1pt">
</FONT>be signed on its behalf by the undersigned hereunto duly<FONT STYLE="letter-spacing: -0.4pt"> </FONT>authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 6pt"></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RICHARDSON ELECTRONICS,<FONT STYLE="letter-spacing: -0.1pt">
    </FONT>LTD.</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; width: 49%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
    December 23, 2015</FONT></TD>
    <TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 45%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Edward J. Richardson</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="margin-top: 0; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></P>
        <P STYLE="margin-top: 0; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></P></TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Edward
    J. Richardson<BR>Chairman of the Board and Chief Executive Officer</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.45pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"></P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>ex23-1.htm
<DESCRIPTION>CONSENT OF BDO USA, LLP, INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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<P STYLE="margin: 0"><A HREF="rell-8ka_061515.htm">Richardson Electronics, Ltd. 8-K/A</A></P>

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

<P STYLE="margin: 0; text-align: right">Exhibit 23.1</P>

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

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black"><U>Consent
of Independent Registered Public Accounting Firm</U></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">Richardson
Electronics, Ltd.</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">LaFox,
Illinois</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">We
hereby consent to the incorporation by reference in the Post Effective Amendment Number 1 to Registration Statement Number 2-89888
on Form S-8, Registration Statement Number 33-36475 on Form S-8, Registration Statement Number 33-54745 on Form S-8, Registration
Statement Number 333-02865 on Form S-8, Registration Statement Number 333-03965 on Form S-8, Registration Statement Number 333-04071
on Form S-8, Registration Statement Number 333-04457 on Form S-8, Registration Statement Number 333-04767 on Form S-8, Registration
Statement Number 333-49005 on Form S-2, Registration Statement Number 333-51513 on Form S-2, Registration Statement Number 333-66215
on Form S-8, Registration Statement Number 333-76897 on Form S-8, Registration Statement Number 333-70914 on Form S-8, Registration
Statement Number 333-115955 on Form S-8, Registration Statement Number 333-120032 on Form S-8, Registration Statement Number 333-129828
on Form S-8, Registration Statement Number 333-60092 on Form S-8, Registration Statement Number 333-146878 on Form S-8, and Registration
Statement Number 333-146879 on Form S-8 of Richardson Electronics, Ltd. of our report dated December 18, 2015, relating to the
financial statements of International Medical Equipment &amp; Services, Inc. appearing in Richardson Electronics, Ltd.&rsquo;s
Current Report on Form 8-K/A dated December 23, 2015.</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; font-variant: normal; color: Black">/s/
BDO USA, LLP</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">&nbsp;</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">Charlotte,
North Carolina</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Black">December
23, 2015</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in; color: fuchsia">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in; color: fuchsia">&nbsp;</P>



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

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

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ex99-1.htm
<DESCRIPTION>CONDENSED COMBINED FINANCIAL INFORMATION
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><B STYLE="font-style: normal; font-weight: normal"><A HREF="rell-8ka_061515.htm">Richardson Electronics, Ltd. 8-K/A</A></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: right; margin-bottom: 0; margin-left: 300pt">EXHIBIT 99.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 300pt">&nbsp;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 300pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 300pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp;<BR>
Services, Inc.</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 300pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B STYLE="font-style: normal; font-weight: normal">Financial
Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 300pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Years
Ended December 31, 2014 and 2013&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 300pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 300pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Years
Ended December 31, 2014 and 2013</FONT></P>

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

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

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: none"><B>Contents</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">


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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
<TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A HREF="#a_007">Independent Auditor&rsquo;s Report</A></B></FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3-4</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="width: 70%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="width: 25%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Financial Statements</B></FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_008">Balance Sheets</A></FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_009">Statements of Operations</A></FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_010">Statements of Changes in Stockholders&rsquo; Equity</A></FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_011">Statements of Cash Flows</A></FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_012">Notes to Financial Statements</A></FONT></TD>
<TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9-16</FONT></TD></TR>
</TABLE>


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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_007"></A><IMG SRC="bdo-logo.jpg" ALT="">&nbsp;</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Independent
Auditor&rsquo;s Report</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B STYLE="font-style: normal; font-weight: normal">Board
of Directors</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B STYLE="font-style: normal; font-weight: normal">International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B STYLE="font-style: normal; font-weight: normal">Fort
Mill, South Carolina</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B STYLE="font-style: normal; font-weight: normal">We
have audited the accompanying financial statements of International Medical Equipment &amp; Services, Inc.
(the &ldquo;Company&rdquo;), which comprise the balance sheets as of December 31, 2014 and 2013, and the related statements
of operations, changes in stockholders&rsquo; equity, and cash flows for the years then ended, and the related
notes to the financial statements.&nbsp;</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: italic bold 10pt Times New Roman, Times, Serif"><B STYLE="font-weight: bold">Management&rsquo;s
Responsibility for the Financial Statements</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B STYLE="font-style: normal; font-weight: normal">Management
is responsible for the preparation and fair presentation of these financial statements in accordance with
accounting principles generally accepted in the United States of America; this includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements
that are free from material misstatement, whether due to fraud or error.</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: italic bold 10pt Times New Roman, Times, Serif"><B STYLE="font-weight: bold">Auditor&rsquo;s
Responsibility</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B STYLE="font-style: normal; font-weight: normal">Our
responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits
in accordance with auditing standards generally accepted in the United States of America. Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from
material misstatement.</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B STYLE="font-style: normal; font-weight: normal">An
audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.
The procedures selected depend on the auditor&rsquo;s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity&rsquo;s preparation and fair presentation of the financial statements in
order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion
on the effectiveness of the entity&rsquo;s internal control. Accordingly, we express no such opinion. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made
by management, as well as evaluating the overall presentation of the financial statements.&nbsp;</B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B STYLE="font-style: normal; font-weight: normal">We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our audit opinion.</B></P>

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

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

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

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<IMG SRC="bdo-logo.jpg" ALT=""></P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Opinion</P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In our opinion, the
financial statements referred to above present fairly, in all material respects, the financial position of the International
Medical Equipment &amp; Services, Inc. as of December 31, 2014 and 2013, and the results of their operations and their cash
flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other Matter</P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 15, 2015, certain of the
Company&rsquo;s assets were sold to Richardson Electronics, Ltd. Our opinion has not been modified with respect to this matter.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<IMG SRC="bdo_sign.gif" ALT=""></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 18, 2015</P>

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

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

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

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


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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Financial
Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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

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

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

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_008"></A>Balance
Sheets</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>&nbsp;<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>December 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2013</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Assets</B></FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Current assets:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; padding-left: 20pt; text-indent: -10">Cash</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>647,938</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">184,153</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Accounts receivable, net (Note 2)</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>628,492</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">426,377</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Inventories, net (Note 3)</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>1,518,347</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">2,046,477</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Prepaid expenses and other current assets</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>189,955</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">113,931</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total current assets</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>2,984,732</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">2,770,938</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Property and equipment, </B>net (Note 4)</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>401,548</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">499,944</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total assets</B></FONT></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>3,386,280</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">3,270,882</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>





<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Liabilities and Stockholders' Equity</B></FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Current liabilities:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 20pt; text-indent: -10">Accounts payable</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>147,514</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">457,727</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Current portion of notes payable (Note 5)</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>145,521</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">140,124</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Customer deposits</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>872,190</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">291,076</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Accrued liabilities</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>255,771</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">182,503</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total current liabilities</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>1,420,996</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">1,071,430</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Revolving line of credit (Note 5)</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&mdash;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">400,000</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Long term notes payable, less current portion </B>(Note 5)</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>366,418</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">478,126</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total liabilities</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>1,787,414</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,949,556</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>





<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Commitments </B>(Note 6)</FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stockholders' Equity:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; text-indent: -10; padding-left: 20pt">Common stock, voting, no par, 100,000 shares authorized; 1,000 shares issued and outstanding at December 31, 2014 and 2013</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>400</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
<TD STYLE="width: 12%; text-align: right">400</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; text-indent: -10; padding-left: 20pt; border-bottom: Black 1pt solid">Retained earnings</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>1,598,466</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,320,926</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-indent: -10; padding-left: 10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; text-indent: -10; padding-left: 10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total stockholders' equity</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>1,598,866</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,321,326</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-indent: -10; padding-left: 10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; text-indent: -10; padding-left: 10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total liabilities and stockholders' equity</B></FONT></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>3,386,280</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">3,270,882</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>See
accompanying notes to financial statements.</I></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_009"></A>Statements
of Operations</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Years Ended December 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2013</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net revenues</B></FONT></TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>8,405,615</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">6,333,219</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Cost of goods sold</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>4,704,322</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">3,911,855</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Gross profit</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>3,701,293</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">2,421,364</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operating expenses:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Selling, general and administrative expenses</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>2,426,724</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">1,840,543</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Depreciation expense</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>147,723</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">116,294</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total operating expenses</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>2,574,447</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,956,837</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operating income</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>1,126,846</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">464,527</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Interest expense, </B>net</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(43,299</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(54,931</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Other income (expense),</B> net</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>33,993</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(4,817</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net income</B></FONT></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>1,117,540</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">404,779</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>See
accompanying notes to financial statements.</I></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_010"></A>Statements
of Changes in Stockholders&rsquo; Equity</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD COLSPAN="7" STYLE="font-family: Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><B>Common Stock</B> &nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Retained</B></FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Shares</B></FONT></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">&nbsp;<B>Value</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Earnings</B></FONT></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 40%; font-family: Times New Roman, Times, Serif; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Balance,</B> December 31, 2012</FONT></TD>
<TD STYLE="width: 3%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; text-align: right">1,000</TD>
<TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="width: 3%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">$</TD>
<TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; text-align: right">400</TD>
<TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="width: 3%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">$</TD>
<TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; text-align: right">1,198,713</TD>
<TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="width: 3%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">$</TD>
<TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; text-align: right">1,199,113</TD>
<TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Net income</B></FONT></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">404,779</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">404,779</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Stockholders' distributions</B></FONT></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">&mdash;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">&mdash;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">(282,566</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">)</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">(282,566</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Balance,</B> December 31, 2013</FONT></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1,000</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">400</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1,320,926</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1,321,326</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Net income</B></FONT></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&mdash;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1,117,540</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1,117,540</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Stockholders' distributions</B></FONT></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">&mdash;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">&mdash;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">(840,000</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">)</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">(840,000</TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt/106% Times New Roman, Times, Serif"><B>Balance,
December 31, 2014</B></FONT></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2pt solid"><B>1,000</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2pt solid"><B>400</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2pt solid"><B>1,598,466</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2pt solid"><B>1,598,866</B></TD>
<TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD></TR>
</TABLE>




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<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>See
accompanying notes to financial statements.</I></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_011"></A>Statements
of Cash Flows</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Years Ended December 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center">2013</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operating activities:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 20pt; text-indent: -10">Net income</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>1,117,540</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">404,779</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Adjustments to reconcile net income to net cash provided by operating activities:</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 30pt; text-indent: -10">Depreciation and amortization</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>147,723</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">116,294</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 30pt; text-indent: -10">Bad debt expense</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>100,307</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">34,697</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 30pt; text-indent: -10">Changes in:</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">Accounts receivable</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(302,422</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(68,398</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 40pt; text-indent: -10">Inventories</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>528,130</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(340,807</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">Prepaid expenses and other assets</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(76,023</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">25,400</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">Accounts payable</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(310,214</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">458,600</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">Customer deposits</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>581,114</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">291,076</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10; border-bottom: Black 1pt solid">Accrued expenses and other current liabilities</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>73,268</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">71,427</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net cash provided by operating activities</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>1,859,423</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">993,068</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Investing activities:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Purchase of property, plant and equipment</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(3,310</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(217,888</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net cash used in investing activities</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(3,310</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(217,888</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Financing activities:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Stockholder distributions</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(840,000</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(282,566</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Proceeds from line of credit</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&mdash;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">400,000</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 20pt; text-indent: -10">Repayment of line of credit</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(400,000</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&mdash;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Proceeds from issuance of long-term debt</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&mdash;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">550,000</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Repayment of long-term debt</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(152,328</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(1,478,544</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net cash used in financing activities</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(1,392,328</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(811,110</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net increase (decrease) in cash</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>463,785</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(35,930</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Cash,</B> beginning of year</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>184,153</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">220,083</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Cash, </B>end of year</FONT></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>647,938</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">184,153</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Supplemental cash flow information:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Cash paid for interest</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>$</B></TD>
<TD STYLE="text-align: right"><B>43,299</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">54,931</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Fixed assets acquired through debt financing</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>$</B></TD>
<TD STYLE="text-align: right"><B>46,016</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">102,892</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 2pt solid">Inventory acquired through debt financing</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>&mdash;</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">130,500</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>



<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>See
accompanying notes to financial statements.</I></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_012"></A>Notes
to Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>





<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Summary
                                         of Significant Accounting Policies</B></FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Organization
and Nature of Operations</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">International
Medical Equipment &amp; Services, Inc. (the &ldquo;Company&rdquo;), is an international distributor of medical imaging equipment
and parts, headquartered in Fort Mill, South Carolina. The Company also provides training on the operation of medical imaging
equipment.</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Basis
of Accounting</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company prepares its financial statements on the accrual basis of accounting. Under this method, income is recognized as it is
earned, and expenses are recognized as they are incurred.</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Use
of Estimates</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
preparation of financial statements in conformity with accounting principles generally accepted in the United States of America
requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the
disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and
expenses during the reporting period. Significant estimates made by management in the preparation of the accompanying financial
statements relate primarily to the collectability of accounts receivable, depreciable lives of property and equipment, and recoverability
of the carrying value of inventory. Actual results could differ from those estimates.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Cash</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2.25pt 0 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt">The
Company maintains cash balances at certain banks which at times may exceed the Federal Deposit Insurance Corporation limits. The
Company has not historically experienced losses related to these balances.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2.25pt 0 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Accounts
Receivable and Concentration of Credit Risk</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt">Accounts
receivable are unsecured customer obligations due under normal trade terms generally requiring payment within 30 days from the
invoice date. Accounts receivable are stated at the amount billed to the customer, less any allowed deductions and other allowances.
Customer account balances are considered delinquent when payment is not received within the trade terms granted. </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company estimates the allowance for doubtful accounts based on historical experience, the credit worthiness of its customers,
and management&rsquo;s assessment of general economic conditions, affecting its customer base. Consequently, an adverse change
in those factors could affect the Company&rsquo;s estimate of its bad debts. After exhausting collection efforts, any uncollectible
accounts receivable are written off against the reserve. The Company does not charge interest on past due accounts receivable.
The Company&rsquo;s allowance for doubtful accounts totaled approximately $95,000 and $0 at December 31, 2014 and 2013, respectively.</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt">At
December 31, 2014 and 2013, two customers comprised approximately 33 percent and 25 percent of accounts receivable, respectively.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"></P>

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<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>





<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Inventories</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Inventories
are valued at the lower of the cost or net realizable value. The costs of inventories are determined using the first-in, first-out
(&ldquo;FIFO&rdquo;) method. An allowance to reduce inventories to their net realizable value is determined by management based
on age, analysis of usage, industry trends and expected demand.</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Property
and Equipment</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Property
and equipment is stated at cost less accumulated depreciation and amortization. Depreciation and amortization of property and
equipment is computed using the straight-line method over the estimated useful lives of the assets or the term of the lease, if
shorter. Maintenance and repairs are charged to expense as incurred. Significant renewals or betterments that extend the useful
lives of property and equipment are capitalized. When items of property and equipment are disposed of, the cost and accumulated
depreciation and amortization is removed from the accounts, and any resulting gain or loss is recorded in the statements of operations.
No gain or loss on disposal of property and equipment was recognized in 2014 or 2013.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
estimated useful lives of property and equipment are as follows:</FONT></P>

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

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

<HR ALIGN="LEFT" NOSHADE SIZE="1" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 50%">Machinery and equipment</TD>
<TD STYLE="text-align: right; width: 50%">&#9;5-10 years</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>Furniture and fixtures</TD>
<TD STYLE="text-align: right">&#9;7-10 years</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>Computers and equipment</TD>
<TD STYLE="text-align: right">&#9;1-3 years</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="border-bottom: Black 2pt solid">Leasehold improvements</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">&#9;Lesser of useful life or lease term</TD></TR>
</TABLE></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Impairment
of Long-Lived Assets</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Long-lived
assets and finite intangibles are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying
amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered
to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the
fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs
to dispose. No impairment charges were recognized in 2014 or 2013.</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Revenue
Recognition</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt">The
Company recognizes revenue from equipment and parts sales when the product is delivered or shipped to the customer, title and
risk of ownership passes to the customer, collectability is reasonably assured, provided that persuasive evidence of an arrangement
exists, and the price is fixed or determinable. Deposits received in advance are recorded as customer deposits and are included
in current liabilities until revenue is recognized. The Company recognizes revenue from training and consulting services at the
time of the services are rendered. Revenue is recorded net of an allowance for estimated returns and discounts.</FONT></P>

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

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

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<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>





<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Sales
and Use Tax</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sales
are presented net of sales and use taxes in the accompanying statements of operations. Sales and use tax amounts are included
as a component of cost of sales in the accompanying statements of operations.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Shipping
and Handling Costs</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Costs
to ship products to customers are expensed as incurred. Shipping costs of approximately <FONT STYLE="letter-spacing: 0pt">$187,000
</FONT>and <FONT STYLE="letter-spacing: 0pt">$76,000 </FONT>for the years ended December 31, 2014 and 2013, respectively, are
recorded as a component of selling, general and administrative expenses in the accompanying statements of operations.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Advertising
and Marketing Costs</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Advertising
and marketing costs are expensed as incurred. Advertising and marketing costs totaled approximately <FONT STYLE="letter-spacing: 0pt">$76,000
</FONT>and <FONT STYLE="letter-spacing: 0pt">$62,000 </FONT>for the years ended December 31, 2014 and 2013, respectively, and
are included as a component of selling, general and administrative expenses in the accompanying statements of operations.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Income
Taxes</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
shareholders of the Company have elected under the provisions of Subchapter S of the Internal Revenue Code to include the Company&rsquo;s
income in their personal income for federal and state income tax purposes. Accordingly, the Company is not subject to federal
or state income taxes for its United States sourced income.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ASC
740, Income Taxes (&ldquo;ASC 740&rdquo;) was adopted by the Company as of January 1, 2009. This interpretation clarifies the
accounting for uncertainty in income taxes recognized in an enterprise&rsquo;s financial statements. Under ASC 740, the impact
of an uncertain income tax position on the income tax returns must be recognized at the largest amount that is more-likely-than-not
to be required to be recognized upon audit by the relevant taxing authority. ASC 740 also provides guidance on de-recognition,
measurement, classification, interest and penalties, accounting for interim periods, disclosure and transition issues with respect
to tax positions. The Company believes it has no uncertain tax positions as of December 31, 2014 and 2013.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company includes interest and penalties accrued in accordance with ASC 740 in the financial statements as a component of interest
expense. No amounts were required to be recorded as of December 31, 2014 and 2013.</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>Fair
Value Measurements</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: 0pt"><B><I>&nbsp;&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ASC
820, Fair <I>Value Measurements and Disclosures</I>, defines fair value as the price that would be received to sell an asset or
paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly
transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires
an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"></P>

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<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>





<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ASC
820 describes three levels of inputs that may be used to measure fair value:</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Level
1: </B>Inputs based on quoted market prices for identical assets or liabilities in active markets at the measurement date.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Level
2:</B> Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities
in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs
that are observable or can be corroborated by observable market data.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Level
3:</B> Inputs reflect management&rsquo;s best estimate of what market participants would use in pricing the asset or liability
at the measurement date. The inputs are unobservable in the market and significant to the instruments valuation.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
of December 31, 2014 and 2013 and for the years then ended, the carrying values reflected in the accompanying balance sheets for
cash, accounts receivable, accounts payable and accrued expenses approximate fair value due to their relative short term maturities.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
carrying values of debt approximate fair market value since these financial instruments bear interest at variable rates which
approximate current market rates for bonds with similar maturities and credit quality.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">At
December 31, 2014 and 2013, the Company did not have any assets or liabilities that were required to be measured at fair value
on a recurring basis.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Recently
Issued Accounting and Reporting Guidance</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
May 2014, the FASB issued ASU 2014-09, <I>Revenue from Contracts with Customers</I>, which supersedes nearly all existing revenue
recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services
are transferred to customers in amounts that reflect the consideration to which an entity expects to be entitled for those goods
or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, may require more judgment
and estimates within the revenue recognition process than are required under existing U.S. GAAP. For private companies, the standard
is effective for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following
transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period
with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially
adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently
evaluating the impact of the adoption of ASU 2014-09 on its financial statements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
August 2014, the FASB issued ASU 2014-15, <I>Presentation of Financial Statements &ndash; Going Concern</I>. ASU 2014-15 requires
an entity&rsquo;s management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial
doubt about the entity&rsquo;s ability to continue as a going concern and if those conditions exist, the required disclosures.
The standard is effective for annual periods ending after December 15, 2016, and interim periods therein. The Company does not
expect adoption of this standard will have a significant impact on the Company&rsquo;s financial statements.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P><P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>





<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Subsequent
Events</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Under
ASC 855, companies are required to disclose events that occur after the balance sheet date but before the financial statements
are issued or are available to be issued. The statement requires the disclosure of the date through which an entity has evaluated
subsequent events and the basis for that date. The statement sets forth the period after the balance sheet date during which management
of a reporting entity should evaluate events or transactions that may occur for potential recognition or disclosure in the financial
statements, the circumstances under which an entity should recognize events or transactions occurring after the balance sheet
date in its financial statements and the disclosures that an entity should make about events or transactions that occurred after
the balance sheet date. See Note 8.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Accounts
                                         Receivable</B></FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounts
receivable consist of the following:</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 9pt/normal Sans-Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify; color: Red"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>December 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2013</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 10; text-indent: -10">Accounts receivable</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>721,049</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">426,377</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Less: allowance for doubtful accounts and returns</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(92,557</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">Accounts receivable, net</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>628,492</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">426,377</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 9pt/normal Sans-Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify; color: Red"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Inventories</B></FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Inventories
consist of the following:</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 9pt/normal Sans-Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify; color: Red"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>December 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2013</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; padding-left: 10; text-indent: -10">Equipment</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>541,393</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">871,037</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">Parts</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>1,062,556</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">1,338,105</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Less: allowance for slow moving and obselete inventory</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(85,602</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(162,665</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">Inventories, net</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>1,518,347</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">2,046,477</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 9pt/normal Sans-Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify; color: Red"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Property
                                         and Equipment</B></FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Property
and equipment consist of the following:</FONT></P>

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

<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>December 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2013</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 10; text-indent: -10">Machinery and equipment</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>410,555</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">407,244</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Furniture and fixtures</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>17,679</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">17,679</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Computers and equipment</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>2,885</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">2,885</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">Vehicles</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>302,866</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">256,850</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Leasehold improvements</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>111,507</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">111,507</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Total property and equipment</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>845,492</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">796,165</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Less: accumulated depreciation and amortization</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(443,944</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(296,221</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">Property and equipment, net</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>401,548</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">499,944</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B>&nbsp;</FONT></P>

<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Depreciation
and amortization expense for the years ended December 31, 2014 and 2013 was approximately $148,000 and $116,000, respectively.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Borrowings</B></FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Long-term
debt consists of the following:</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>December 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2013</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 10; text-indent: -10">Revolving line of credit</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>&mdash;</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">400,000</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Term loan</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>378,610</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">482,656</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Automobile financing</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>133,329</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">135,594</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Total long-term debt and capital leases</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>511,939</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">1,018,250</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Less: current maturities</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(145,521</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(140,124</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">Long-term debt and capital leases, net</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>366,418</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">878,126</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: yellow"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
April 24, 2013, the Company entered into a credit agreement (the &ldquo;Credit Agreement&rdquo;) with a financial institution.
The Credit Agreement consists of a $550,000 term loan (the &ldquo;Term Loan&rdquo;) and a $1,000,000 revolving credit facility
(the &ldquo;Revolver&rdquo;). Borrowings under the Credit Agreement are collateralized by accounts receivable, inventory, and
fixed assets of the Company. The Term Loan is payable in monthly installments of principal and interest totaling $10,144 through
the maturity date of April 24, 2018. The Credit Agreement was amended on February 10, 2014 and March 31, 2015 to increase the
availability under the Revolver to $1,500,000 and extend its maturity date to April 24, 2016.</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P><P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>





<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>


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

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Interest
accrues on borrowings under the Revolver at LIBOR plus 3.25% (3.43% at December 31, 2013). The interest rate on the Company&rsquo;s
Term Loan was 4.0% at both December 31, 2014 and 2013.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company enters into loan agreements in connection with the purchase of its automobiles. At December 31, 2014 and 2013, the Company
had four and three automobile financing arrangements in place, respectively. Amounts outstanding under these financing arrangements
are collateralized by the related automobiles. These financing arrangements require monthly payments of principal and interest
ranging from $555 to $923 each, accrue interest at annual rates ranging from 2.99% to 5.9% and mature in periods beginning in
February 2017 through January 2019.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company also enters into loan agreements from time to time in connection with the purchase of medical imaging equipment for resale.
At December 31, 2012, the Company had seven equipment financing arrangements in place, having a total outstanding loan obligation
of approximately $1,225,000. These loans were collateralized by the equipment acquired, accrued interest at annual rates ranging
from 4.5% to 5.5%, and had original maturity dates ranging from April 15, 2013 to October 19, 2016. All of the equipment loans
were repaid during 2013.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Credit Agreement contains certain covenants, including covenants restricting additional indebtedness and the payment of dividends.
In addition, the Company must maintain certain annual financial covenants, including, among other things, a maximum debt to net
worth ratio and a minimum fixed charge coverage ratio., The Company is also required to submit its compiled financial statements
to the lender within 120 days of its year-end. The Company was in compliance with its debt covenants at both December 31, 2014
and 2013.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Future
maturities of the Company&rsquo;s outstanding borrowings as of December 31, 2014, are as follows:</FONT></P>

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

<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD COLSPAN="3" STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Years Ending March 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD COLSPAN="3" STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">2015</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">145,521</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">2016</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">151,642</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">2017</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">151,812</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">2018</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">59,989</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">2019</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,975</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total notes payable</B></FONT></TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">511,939</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; width: 1%">&nbsp;</TD>
<TD STYLE="text-align: right; padding-left: 10; text-indent: -10; width: 75%">&nbsp;</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; width: 1%">&nbsp;</TD>
<TD STYLE="width: 6%">&nbsp;</TD>
<TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
<TD STYLE="text-align: right; width: 15%">&nbsp;</TD>
<TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Commitments</B></FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company is from time-to-time involved in litigation incidental to the conduct of its business, and such matters can involve current
and former employees and other matters. These actions are routine and are expected to continue to be resolved without a material
effect on the Company&rsquo;s financial position or future results of operation.</FONT></P>

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

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

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<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>





<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: right"></P>


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



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Related
                                         Party Transactions</B></FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company leases its office and warehouse facility from a related party under a month-to-month arrangement. Amounts paid to the
related party for the use of the facility approximated $99,000 in each of 2014 and 2013.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">During
2014, the Company recognized revenue of approximately $64,000 related to the sales of parts to Richardson Electronics, Ltd., who
acquired the Company in June 2015.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>8.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Subsequent
                                         Events</B></FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company has evaluated subsequent events from the date of the balance sheet through December 18, 2015, the date the financial statements
were available for issuance. On March 31, 2015, the Company extended the maturity date of the Revolver to April 24, 2016. On June
15, 2015, certain of the Company&rsquo;s assets were acquired by Richardson Electronics, Ltd. for cash proceeds approximating
$12.2 million. Proceeds generated from the sale were used to repay the Company&rsquo;s outstanding debt obligations. No other
material recognizable subsequent events were identified.</FONT></P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 300pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 300pt"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 300pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 300pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 300pt">International Medical Equipment &amp;<BR>
Services, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 300pt"><B>Unaudited Financial
Statements&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0; margin-left: 300pt">Three
Months Ended March 31, 2015 and 2014&nbsp;</P>

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    <!-- Field: /Page -->

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">International Medical Equipment &amp; Services,
Inc.</P>

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

<HR ALIGN="CENTER" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B STYLE="font-style: normal; font-weight: normal">Unaudited Financial Statements</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Three Months Ended March 31, 2015 and 2014</P>

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

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

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    <!-- Field: /Page -->

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

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

<P STYLE="text-align: center"></P>

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: bold 10pt Times New Roman, Times, Serif">C<FONT STYLE="text-transform: lowercase">ONTENT</FONT>s</FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>



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

<P STYLE="text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
<TD COLSPAN="2"><B>Unaudited Financial Statements</B></TD>
<TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 70%">&nbsp;</TD>
<TD STYLE="width: 25%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD><A HREF="#a_001">Balance Sheets</A></TD>
<TD STYLE="text-align: right">3</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD><A HREF="#a_002">Statements of Operations</A></TD>
<TD STYLE="text-align: right">4</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD><A HREF="#a_003">Statements of Changes in Stockholders&rsquo; Equity</A></TD>
<TD STYLE="text-align: right">5</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD><A HREF="#a_004">Statements of Cash Flows</A></TD>
<TD STYLE="text-align: right">6</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>&nbsp;</TD>
<TD><A HREF="#a_005">Notes to Unaudited Financial Statements</A></TD>
<TD STYLE="text-align: right">7-14</TD></TR>
</TABLE>


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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_001"></A>Unaudited
Balance Sheets</B></FONT></P>


<HR ALIGN="CENTER" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10.5pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 1pt solid; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>March 31,</I></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-family: Trebuchet MS, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2015</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-family: Trebuchet MS, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Assets</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Current assets:</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 65%; font-family: Trebuchet MS, Times, Serif; padding-left: 20pt; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash</FONT></TD><TD STYLE="width: 2%; font-family: Trebuchet MS, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>$</B></FONT></TD><TD STYLE="width: 12%; font-family: Trebuchet MS, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>330,959</B></FONT></TD><TD STYLE="width: 1%; font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="width: 5%; font-family: Trebuchet MS, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 12%; font-family: Trebuchet MS, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">92,381</FONT></TD><TD STYLE="width: 1%; font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; padding-left: 20pt; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounts
    receivable, net (Note 2)</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>805,858</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">779,200</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; padding-left: 20pt; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Inventories,
    net (Note 3)</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1,923,076</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2,794,191</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid; padding-left: 20pt; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Prepaid
    expenses and other current assets</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>37,112</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24,443</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total
    current assets</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3,097,005</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,690,215</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Property
    and equipment, </B>net (Note 4)</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>436,667</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">519,030</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total
    assets</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>$</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3,533,672</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: right; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,209,245</FONT></TD><TD STYLE="font-family: Trebuchet MS, Times, Serif; text-align: left; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>




<P STYLE="text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Liabilities and Stockholders' Equity</B></FONT></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Current liabilities:</B></FONT></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 65%; text-align: left; padding-left: 20pt; text-indent: -10">Accounts payable</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"><B>$</B></TD><TD STYLE="width: 12%; text-align: right"><B>322,800</B></TD><TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">609,642</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Current portion of notes payable (Note 5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>167,324</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">145,153</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Customer deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>125,000</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">686,586</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Accrued expenses</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>121,511</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">70,296</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total current liabilities</B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>736,635</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,511,677</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Revolving line of credit (Note 5)</B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&mdash;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">400,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Long term notes payable, less current portion </B>(Note 5)</FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>369,250</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">485,350</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total liabilities</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>1,105,885</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,397,027</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stockholders' Equity:</B></FONT></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 65%; text-align: left; padding-left: 20pt; text-indent: -10">Common stock, voting, no par, 100,000 shares authorized; 1,000 shares issued and outstanding at March 31, 2015 and 2014</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD><TD STYLE="width: 12%; text-align: right"><B>400</B></TD><TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">400</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Retained earnings</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>2,427,387</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,811,818</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total stockholders' equity</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>2,427,787</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,812,218</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total liabilities and stockholders' equity</B></FONT></TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>3,533,672</B></TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid">4,209,245</TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>See accompanying notes to unaudited financial
statements.</I></FONT></P>




<P STYLE="text-align: right"></P>

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<P STYLE="text-align: center"></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_002"></A>Unaudited
Statements of Operations</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>


<P STYLE="text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Three Months Ended March 31,</I></FONT></TD>
<TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2015</B></FONT></TD>
<TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net revenue</B></FONT></TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>2,841,067</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">2,073,166</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Cost of goods sold</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>1,352,214</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">914,932</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Gross profit</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>1,488,853</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">1,158,234</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operating expenses:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Selling, general and administrative expenses</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>462,298</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">429,442</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Depreciation expense</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>36,913</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">36,931</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operating income</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>989,642</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">691,861</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Interest expense, net</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(5,362</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(11,602</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Other income (expense), net</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>4,641</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(21,867</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net income</B></FONT></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>988,921</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">658,392</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: right"><I>See accompanying notes to unaudited financial statements.</I></P>




<P STYLE="text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in"></P>

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center;"><A NAME="a_003"></A><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Unaudited
Statements of Changes in Stockholders&rsquo; Equity</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stockholders'</B></FONT></TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Retained</B></FONT></TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-align: center; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: center; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Equity</B></FONT></TD><TD STYLE="text-align: center; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Earnings</B></FONT></TD><TD STYLE="text-align: center; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Balance,</B> December 31, 2013</FONT></TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">400</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">1,320,926</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">1,321,326</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net income</B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">658,392</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">658,392</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stockholder distributions</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(167,500</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(167,500</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Balance, March 31, 2014</B></FONT></TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid">400</TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid">1,811,818</TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid">1,812,218</TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Balance,</B> December 31, 2014</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,598,466</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,598,866</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net income</B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">988,921</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">988,921</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stockholder distributions</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(160,000</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(160,000</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Balance,
    March 31, 2015</B></FONT></TD><TD STYLE="border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>400</B></TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>2,427,387</B></TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>2,427,787</B></TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: right"><I>See accompanying notes to unaudited financial statements.</I></P>

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

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

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

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_004"></A>Unaudited
Statements of Cash Flows</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Three Months Ended March 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2015</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Operating activities:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 20pt; text-indent: -10">Net income</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>988,921</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">658,392</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Adjustments to reconcile net income to net cash (used in) provided by operating activities:</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 30pt; text-indent: -10">Depreciation and amortization</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>36,913</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">36,931</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 30pt; text-indent: -10">Changes in:</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">Accounts receivable</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(177,366</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(352,823</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 40pt; text-indent: -10">Inventories</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(404,729</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(747,714</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">Prepaid expenses and other assets</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>152,843</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">89,488</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">Accounts payable</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>175,286</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">151,915</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">Customer deposits</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(747,190</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">395,510</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10; border-bottom: Black 1pt solid">Accrued expenses and other current liabilities</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(134,260</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(112,207</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 40pt; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net cash (used in) provided by operating activities</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(109,582</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">119,492</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Investing activities:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Purchase of property and equipment</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(12,532</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(10,001</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net cash used in investing activities</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(12,532</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(10,001</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Financing activities:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Stockholder distributions</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(160,000</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(167,500</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 20pt; text-indent: -10; border-bottom: Black 1pt solid">Repayment of long-term debt</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(34,865</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(33,763</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 20pt; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net cash used in financing activities</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(194,865</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(201,263</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Net decrease in cash</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>(316,979</B></TD>
<TD STYLE="text-align: left"><B>)</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">(91,772</TD>
<TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Cash,</B> beginning of period</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>647,938</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">184,153</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Cash, </B>end of period</FONT></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>330,959</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">92,381</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Supplemental cash flow information:</B></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10">Cash paid for interest</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>$</B></TD>
<TD STYLE="text-align: right"><B>5,362</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">11,603</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10; border-bottom: Black 2pt solid">Fixed assets acquired through debt financing</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>59,500</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">46,016</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><I>See accompanying notes to unaudited
financial statements.</I></P>

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

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

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="a_005"></A>Notes
to Unaudited Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>

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

<P STYLE="text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">1.</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Organization
and Nature of Operations</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">International Medical Equipment &amp; Services,
Inc. (the &ldquo;Company&rdquo;), is an international distributor of medical imaging equipment and parts, headquartered in Fort
Mill, South Carolina. The Company also provides training on the operation of medical imaging equipment.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Basis
of Accounting</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The unaudited quarterly financial statements
have been prepared in accordance with generally accepted accounting principles in the United States of America (&ldquo;GAAP&rdquo;).
In the opinion of management, these unaudited quarterly financial statements contain all adjustments, consisting of adjustments
of a normal recurring nature, necessary to present fairly the financial position, results of operations and cash flows for the
periods presented. The results of operations for the three months ended March 31, 2015 and 2014 are not necessarily indicative
of the results to be expected for the full years.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Use
of Estimates</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">The preparation
of financial statements in conformity with accounting principles generally accepted in the United States of America requires management
to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting
period. Significant estimates made by management in the preparation of the accompanying financial statements relate primarily to
the collectability of accounts receivable, depreciable lives of property and equipment, and recoverability of the carrying value
of inventory. Actual results could differ from those estimates.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Cash</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2.25pt 0 0; text-align: justify"><FONT STYLE="letter-spacing: 0pt">The
Company maintains cash balances at certain banks which at times may exceed the Federal Deposit Insurance Corporation limits. The
Company has not historically experienced losses related to these balances.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2.25pt 0 0; text-align: justify"><FONT STYLE="letter-spacing: 0pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Accounts
Receivable and Concentration of Credit Risk</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0pt">Accounts
receivable are unsecured customer obligations due under normal trade terms generally requiring payment within 30 days from the
invoice date. Accounts receivable are stated at the amount billed to the customer, less any allowed deductions and other allowances.
Customer account balances are considered delinquent when payment is not received within the trade terms granted. </FONT>The Company
estimates the allowance for doubtful accounts based on historical experience, the credit worthiness of its customers, and management&rsquo;s
assessment of general economic conditions, affecting its customer base. Consequently, an adverse change in those factors could
affect the Company&rsquo;s estimate of its bad debts. After exhausting collection efforts, any uncollectible accounts receivable
are written off against the reserve. The Company does not charge interest on past due accounts receivable. The Company&rsquo;s
allowance for doubtful accounts totaled approximately $93,000 and $0 at March 31, 2015 and 2014, respectively.</P>

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

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

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Unaudited Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"></P>



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

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

<P STYLE="text-align: center"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2015, four customers comprised
approximately 49 percent of accounts receivable. At March 31, 2014, two customers comprised approximately 48 percent of accounts
receivable.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Inventories</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories are valued at the lower of the
cost or net realizable value. The costs of inventories are determined using the first-in, first-out (&ldquo;FIFO&rdquo;) method.
An allowance to reduce inventories to their net realizable value is determined by management based on age, analysis of usage, industry
trends and expected demand.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Property
and Equipment</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment is stated at cost less
accumulated depreciation and amortization. Depreciation and amortization of property and equipment is computed using the straight-line
method over the estimated useful lives of the assets or the term of the lease, if shorter. Maintenance and repairs are charged
to expense as incurred. Significant renewals or betterments that extend the useful lives of property and equipment are capitalized.
When items of property and equipment are disposed of, the cost and accumulated depreciation and amortization is removed from the
accounts, and any resulting gain or loss is recorded in the statements of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The estimated useful lives of property and
equipment are as follows:</P>

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

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

<HR ALIGN="LEFT" NOSHADE SIZE="1" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 50%">Machinery and equipment</TD>
<TD STYLE="width: 50%; text-align: right">&#9;5-10 years</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>Furniture and fixtures</TD>
<TD STYLE="text-align: right">&#9;7-10 years</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD>Computers and equipment</TD>
<TD STYLE="text-align: right">&#9;1-3 years</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="border-bottom: Black 2pt solid">Leasehold improvements</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">&#9;Lesser of useful life or lease term</TD></TR>
</TABLE>


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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Impairment of Long-Lived Assets</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Long-lived assets and finite intangibles are
reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted
net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized
is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed
of are reported at the lower of the carrying amount or fair value, less costs to dispose. No impairment charges were recognized
in the three-month periods ended March 31, 2015 and 2014.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Revenue
Recognition</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue from equipment
and parts sales when the product is delivered o shipped to the customer, title and risk of ownership passes to the customer, collectability
is reasonably assured, provided that persuasive evidence of an arrangement exists, and the price is fixed or determinable. Deposits
received in advance are recorded as customer deposits and are included in current liabilities until revenue is recognized. The
Company recognizes revenue from training and consulting services at the time of the services are rendered. Revenue is recorded
net of an allowance for estimated returns and discounts.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"></P>

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Unaudited Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">



<FONT STYLE="letter-spacing: 0pt"></FONT>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Sales
and Use Tax</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">Sales are presented
net of sales and use taxes in the accompanying statements of operations. Sales and use tax amounts are included as a component
of cost of sales in the accompanying statements of operations.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Shipping
and Handling Costs</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">Costs to ship
products to customers are expensed as incurred. Shipping costs of approximately <FONT STYLE="letter-spacing: 0pt">$81,500</FONT>
and <FONT STYLE="letter-spacing: 0pt">$90,000 </FONT>for the three months ended March 31, 2015 and 2014, respectively, are recorded
as a component of selling, general and administrative expenses in the accompanying statements of operations.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Advertising
and Marketing Costs</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">Advertising
and marketing costs are expensed as incurred. Advertising and marketing costs totaled approximately <FONT STYLE="letter-spacing: 0pt">$17,600</FONT>
and <FONT STYLE="letter-spacing: 0pt">$5,000 </FONT>for the three months ended March 31, 2015 and 2014, respectively, and are included
as a component of selling, general and administrative expenses in the accompanying statements of operations.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Income
Taxes</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The shareholders of the Company have elected
under the provisions of Subchapter S of the Internal Revenue Code to include the Company&rsquo;s income in their personal income
for federal and state income tax purposes. Accordingly, the Company is not subject to federal or state income taxes for its United
States sourced income.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ASC 740, Income Taxes (&ldquo;ASC 740&rdquo;)
was adopted by the Company as of January 1, 2009. This interpretation clarifies the accounting for uncertainty in income taxes
recognized in an enterprise&rsquo;s financial statements. Under ASC 740, the impact of an uncertain income tax position on the
income tax returns must be recognized at the largest amount that is more-likely-than-not to be required to be recognized upon audit
by the relevant taxing authority. ASC 740 also provides guidance on de-recognition, measurement, classification, interest and penalties,
accounting for interim periods, disclosure and transition issues with respect to tax positions. The Company believes it has no
uncertain tax positions as of March 31, 2015 and 2014.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company includes interest and penalties
accrued in accordance with ASC 740 in the consolidated financial statements as a component of interest expense. No amounts were
required to be recorded as of and for the three month periods ended March 31, 2015 and 2014.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>Fair
Value Measurements</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><FONT STYLE="letter-spacing: 0pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">ASC 820, Fair
<I>Value Measurements and Disclosures</I>, defines fair value as the price that would be received to sell an asset or paid to transfer
a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between
market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize
the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"></P>

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Unaudited Financial Statements</B></FONT></P>

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

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

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

<P STYLE="text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">ASC 820 describes
three levels of inputs that may be used to measure fair value:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><B>Level 1:
</B>Inputs based on quoted market prices for identical assets or liabilities in active markets at the measurement date.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><B>Level 2:</B>
Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active
markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are
observable or can be corroborated by observable market data.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"><B>Level 3:</B>
Inputs reflect management&rsquo;s best estimate of what market participants would use in pricing the asset or liability at the
measurement date. The inputs are unobservable in the market and significant to the instruments valuation.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">As of March
31, 2015 and 2014 and for the three-month periods then ended, the carrying values reflected in the accompanying balance sheets
for cash, accounts receivable, accounts payable and accrued expenses approximate fair value due to the relative short term maturities
of these financial instruments.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">The carrying
values of debt approximates fair value since these financial instruments bear interest at variable rates which approximate current
market rates for bonds with similar maturities and credit quality.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2015 and 2014, the Company did
not have any assets or liabilities that were required to be measured at fair value on a recurring basis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Recently Issued Accounting and Reporting
Guidance</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2014, the FASB issued ASU 2014-09, <I>Revenue
from Contracts with Customers</I>, which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core
principle of ASU 2014-09 is to recognize revenue when promised goods or services are transferred to customers in amounts that reflect
the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process
to achieve this core principle and, in doing so, may require more judgment and estimates within the revenue recognition process
than are required under existing U.S. GAAP. For private companies, the standard is effective for annual periods beginning after
December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach
reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients,
or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption
(which includes additional footnote disclosures). The Company is currently evaluating the impact of the adoption of ASU 2014-09
on its financial statements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In August 2014, the FASB issued ASU 2014-15,
<I>Presentation of Financial Statements &ndash; Going Concern</I>. ASU 2014-15 requires an entity&rsquo;s management to evaluate
whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity&rsquo;s ability
to continue as a going concern and if those conditions exist, the required disclosures. The standard is effective for annual periods
ending after December 15, 2016, and interim periods therein. The Company does not expect adoption of this standard will have a
significant impact on the Company&rsquo;s financial statements.</P>

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

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

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Unaudited Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">


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

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

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

<P STYLE="text-align: center"></P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Subsequent Events</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC 855, companies are required to disclose
events that occur after the balance sheet date but before the financial statements are issued or are available to be issued. The
statement requires the disclosure of the date through which an entity has evaluated subsequent events and the basis for that date.
The statement sets forth the period after the balance sheet date during which management of a reporting entity should evaluate
events or transactions that may occur for potential recognition or disclosure in the financial statements, the circumstances under
which an entity should recognize events or transactions occurring after the balance sheet date in its financial statements and
the disclosures that an entity should make about events or transactions that occurred after the balance sheet date. See Note 8.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">2.</TD><TD STYLE="text-align: justify">Accounts Receivable</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">Accounts receivable
consist of the following:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>March 31,</I></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2015</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 65%; text-align: left; padding-left: 10; text-indent: -10">Accounts receivable</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"><B>$</B></TD><TD STYLE="width: 12%; text-align: right"><B>898,414</B></TD><TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">779,200</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Less: allowance for doubtful accounts</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(92,556</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">Accounts receivable, net</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>805,858</B></TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid">779,200</TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">3.</TD><TD STYLE="text-align: justify">Inventories</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">Inventories
consist of the following:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/normal Sans-Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify; color: Red"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>March 31,</I></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2015</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 65%; padding-left: 10; text-indent: -10">Equipment</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"><B>$</B></TD><TD STYLE="width: 12%; text-align: right"><B>649,677</B></TD><TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,368,277</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10; text-indent: -10">Parts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>1,312,590</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,568,341</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Less: allowance for slow moving and obselete inventory</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(39,191</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(142,427</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">Inventories, net</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>1,923,076</B></TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid">2,794,191</TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 9pt/normal Sans-Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify; color: Red"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; letter-spacing: -0.1pt; text-align: justify"></P>

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Unaudited Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">


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

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

<P STYLE="text-align: center"></P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">4.</TD><TD STYLE="text-align: justify">Property and Equipment</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment consist of the following:</P>

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

<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>March 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2015</B></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center">2014</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 65%; text-align: left; padding-left: 10; text-indent: -10">Machinery and equipment</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left"><B>$</B></TD>
<TD STYLE="width: 12%; text-align: right"><B>412,084</B></TD>
<TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">407,245</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Furniture and fixtures</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>17,679</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">17,679</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Computers and equipment</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>2,885</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">2,885</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">Vehicles</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>320,426</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">312,866</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Leasehold improvements</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>111,507</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">111,507</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Total property and equipment</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>864,581</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">852,182</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Less: accumulated depreciation and amortization</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(427,914</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">(333,152</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD STYLE="text-align: right"><B>&nbsp;</B></TD>
<TD STYLE="text-align: left"><B>&nbsp;</B></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">Property and equipment, net</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>436,667</B></TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">519,030</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"><B></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Depreciation and amortization expense
for the three months ended March 31, 2015 and 2014 was $36,913 and $36,931, respectively, and is included as a component of selling,
general and administrative expense in the accompanying statements of operations.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">5.</TD><TD STYLE="text-align: justify">Borrowings</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Long-term debt consists of the following:</P>

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

<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>March 31,</I></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2015</B></FONT></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 65%; text-align: left; padding-left: 10; text-indent: -10">Revolving line of credit</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"><B>$</B></TD><TD STYLE="width: 12%; text-align: right"><B>&mdash;</B></TD><TD STYLE="width: 1%; text-align: left"><B>&nbsp;</B></TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">400,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Term loan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>351,732</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">457,053</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Automobile financing</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>184,842</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">173,450</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10">Total long-term debt and capital leases</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>536,574</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,030,503</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">Less: current maturities</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>&nbsp;</B></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><B>(167,324</B></TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid"><B>)</B></TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(145,153</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD STYLE="text-align: right"><B>&nbsp;</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">Long-term debt and capital leases, net</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>$</B></TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid"><B>369,250</B></TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt solid">885,350</TD><TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: justify; color: Red"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 24, 2013, the Company entered
into a credit agreement (the &ldquo;Credit Agreement&rdquo;) with a financial institution. The Credit Agreement consists of a
$550,000 term loan (the &ldquo;Term Loan&rdquo;) and a $1,000,000 revolving credit facility (the &ldquo;Revolver&rdquo;). Borrowings
under the Credit Agreement are collateralized by accounts receivable, inventory, and fixed assets of the Company. The Term Loan
is payable in monthly installments of principal and interest totaling $10,144 through the maturity date of April 24, 2018. The
Credit Agreement was amended on February 10, 2014 and March 31, 2015 to increase the availability under the Revolver to $1,500,000
and extend its maturity date to April 24, 2016.</P>

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

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

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Unaudited Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Interest accrues on borrowings under the Revolver at LIBOR plus
3.25%. The interest rate on the Company&rsquo;s Term Loan was 4.0% at both March 31, 2015 and 2014.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company enters into loan agreements
in connection with the purchase of its automobiles. At March 31, 2015 and 2014, the Company had five automobile financing
arrangements in place, respectively. Amounts outstanding under these financing arrangements are collateralized by the related
automobiles. These financing arrangements require monthly payments of principal and interest ranging from $555 to $923 each,
accrue interest at annual rates ranging from 2.99% to 5.9% and mature in periods beginning in February 2017 through February
2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Credit Agreement contains certain covenants,
including covenants restricting additional indebtedness and the payment of dividends. In addition, the Company must maintain certain
annual financial covenants, including, among other things, a maximum debt to net worth ratio and a minimum fixed charge coverage
ratio. The Company is also required to submit its compiled financial statements to the lender within 120 days of its year end.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Future maturities of the Company&rsquo;s outstanding
borrowings as of March 31, 2015 are as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD COLSPAN="3" STYLE="padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Years Ending March 31,</I></FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD COLSPAN="3" STYLE="padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">2015</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">167,324</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">2016</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">155,781</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">2017</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">152,638</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">2018</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">56,565</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">2019</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
<TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,266</TD>
<TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD COLSPAN="2" STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total notes payable</B></FONT></TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">$</TD>
<TD STYLE="text-align: right; border-bottom: Black 2pt solid">536,574</TD>
<TD STYLE="text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; width: 1%">&nbsp;</TD>
<TD STYLE="text-align: right; padding-left: 10; text-indent: -10; width: 75%">&nbsp;</TD>
<TD STYLE="text-align: left; padding-left: 10; text-indent: -10; width: 1%">&nbsp;</TD>
<TD STYLE="width: 6%">&nbsp;</TD>
<TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
<TD STYLE="text-align: right; width: 15%">&nbsp;</TD>
<TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>
</TABLE>





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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Commitments</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is from time-to-time involved in
litigation incidental to the conduct of its business, and such matters can involve current and former employees and other matters.
These actions are routine and are expected to continue to be resolved without a material effect on the Company&rsquo;s financial
position or future results of operation.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>7.</I></TD><TD STYLE="text-align: justify">Related Party Transactions</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company leases its office and warehouse
facility from a related party under a month-to-month arrangement. Amounts paid to the related party for the use of the facility
approximated $27,000 for the three months ended March 31, 2015 and 2014. These amounts are included as a component of selling,
general and administrative expenses in the accompanying statements of operations.</P>

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

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

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

<P STYLE="font: bold 14pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>International
Medical Equipment &amp; Services, Inc.</B></FONT></P>

<P STYLE="font: 8pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 12pt Trebuchet MS, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Notes
to Unaudited Financial Statements</B></FONT></P>

<HR ALIGN="LEFT" NOSHADE SIZE="2" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">





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

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">Subsequent Events</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has evaluated subsequent events
from the date of the balance sheet through December 18, 2015, the date the financial statements were available for issuance. On
June 15, 2015, certain of the Company&rsquo;s assets were acquired by Richardson Electronics, Ltd. for cash proceeds approximating
$12.2 million. Proceeds generated from the sale were used to repay the Company&rsquo;s outstanding debt obligations. No other material
recognizable subsequent events were identified.</P>

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

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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>ex99-2.htm
<DESCRIPTION>CONDENSED COMBINED FINANCIAL INFORMATION
<TEXT>
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<P STYLE="margin: 0"><A HREF="rell-8ka_061515.htm">Richardson Electronics, Ltd. 8-K/A</A></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
99.2</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Richardson
Electronics, Ltd.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Unaudited
Pro Forma Condensed Combined Financial Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>In
thousands, except share data</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.9pt 8pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 15, 2015, Richardson Electronics, Ltd (&ldquo;the Company&rdquo;) acquired certain assets of International Medical Equipment
and Services, Inc. (&ldquo;IMES&rdquo;), pursuant to the terms of the Purchase Agreement (&ldquo;Agreement&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IMES,
based in South Carolina, provides reliable, cost-saving solutions worldwide for major brands of CT and MRI equipment. This acquisition
positions Richardson Healthcare to provide cost effective diagnostic imaging replacement parts and training to hospitals, diagnostic
imaging centers, medical institutions, and independent service organizations. IMES offers an extensive selection of replacement
parts, as well as an interactive training center, on-site test bays and experienced technicians who provide 24/7 customer support.
Replacement parts are readily available and triple tested to provide peace of mind when uptime is critical. IMES core operations
will remain in South Carolina. Richardson Healthcare will expand IMES' replacement parts and training offerings geographically
leveraging the Company&rsquo;s global infrastructure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consideration paid by the Company to IMES at closing was $12.2 million in cash. This includes the purchase of inventory, receivables,
fixed assets, and certain other assets of the company. The Company did not acquire any liabilities of IMES. The total consideration
paid excludes transaction costs and is subject to post-close adjustments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Agreement, the Company also entered into an Employment, Non-Disclosure, and Non-Compete Agreement (&ldquo;Employment
Agreement&rdquo;) with Lee A. McIntyre III as the Company&rsquo;s Executive Vice President, IMES. During the term of his employment,
Mr. McIntyre will earn an annual base salary of $300,000. In addition to his base salary, he will be entitled to an annual bonus
equal to 20% of the EBITDA of IMES provided that the EBITDA of the business is at least $2.0 million inclusive of the bonus payment.
The annual bonus payment will terminate after five years.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
unaudited pro forma condensed combined financial information was prepared using the acquisition method of accounting. The unaudited
pro forma condensed combined balance sheet as of May 30, 2015, is presented as if the acquisition of IMES had occurred on that
date. The unaudited pro forma condensed combined statement of operations for the year ended May 30, 2015, is presented as if the
IMES acquisition had occurred on June 1, 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
unaudited pro forma condensed combined statement of operations includes IMES&rsquo; statement of income from April 1, 2014, through
March 31, 2015, and the Company&rsquo;s statement of income from its fiscal year beginning June 1, 2014, and ended May 30, 2015.
The unaudited pro forma condensed combined balance sheet includes IMES&rsquo; balance sheet as of March 31, 2015, and the Company&rsquo;s
balance sheet as of May 30, 2015. The unaudited pro forma condensed combined financial information should be read in conjunction
with a) the Company&rsquo;s Annual Report on Form 10-K for the year ended May 30, 2015, and (b) with IMES&rsquo; historical financial
statements and notes thereto included in the Company&rsquo;s Current Report on Form&nbsp;8-K/A to which this document is filed
as an exhibit. Certain reclassifications were made to the overall presentation of the historical IMES financial statements to
conform to the Company&rsquo;s presentation. The Company&rsquo;s unaudited condensed combined balance sheet as of August 29, 2015,
reflects the impact of the acquisition and an estimate of the purchase price allocation, and is included in the Company&rsquo;s
Quarterly Report on Form 10-Q for the quarterly period ended August 29, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
unaudited pro forma condensed combined financial information is provided for illustrative purposes only and is not necessarily
indicative of the financial results that would have occurred if the acquisition of IMES had been consummated on the dates indicated.
In addition, the unaudited pro forma condensed combined financial information does not purport to project the future operating
results of the Company. No effect has been given in the unaudited pro forma condensed combined financial information for the cost
of any integration activities or benefits that may result from synergies that may be derived from any integration activities.
The detailed valuation studies necessary to arrive at the required fair market value of the IMES assets to be acquired and the
related allocations of the purchase price have not been fully completed as of the date of this filing. The purchase price has
been allocated to the assets acquired based upon management&rsquo;s preliminary estimate of their respective fair values as of
the date of acquisition. Therefore, the actual amounts recorded as of the completion of the analysis might differ materially from
the information presented in the unaudited pro forma condensed combined financial statements. The pro forma adjustments, as described
in the accompanying notes, are based upon available information and certain assumptions that are believed to be reasonable as
of the date of this document.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Richardson
Electronics, Ltd.</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Unaudited Pro Forma Condensed Combined Balance Sheet</B></FONT><BR>
<B>As of the Fiscal Year Ended May 30, 2015<BR>
</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(amounts
in thousands)</I></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="19" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FY
    2015</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richardson</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IMES
    (1)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pro
    Forma Adjustments</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proforma</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current Assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 35%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and
    cash equivalents</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">74,535</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">331</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(A)&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12,540</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62,326</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts Receivable,
    net</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,753</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">806</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,559</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38,769</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,923</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,692</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses and
    other assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,696</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(A)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(37</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,696</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred Income Taxes</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">804</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">804</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income tax receivable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">929</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">929</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments
    - current</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,692</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,692</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    current assets</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">161,178</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,097</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12,577</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">151,698</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property, Plant and
    Equipment, Net</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,081</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">437</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(B)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(207</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,311</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other intangibles,
    net</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">743</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(C)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,400</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,143</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;&nbsp;&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(C)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,850</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,850</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Current Deferred
    Income Taxes</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,443</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,443</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments - non-current</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,549</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,549</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    non-current assets</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,816</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">437</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,043</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33,296</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    ASSETS</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">184,994</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,534</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,534</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">184,994</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liabilities
    and Stockholders' Equity</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    Liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts Payable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,768</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">323</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(D)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(323</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,768</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued
    Liabilities</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,144</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">413</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(D)&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(413</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,144</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    current liabilities</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,912</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">736</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(736</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,912</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current deferred
    income tax liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,209</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,209</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other non-current Liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,221</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">369</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(D)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(369</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,221</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    non-current liabilities</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,430</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">369</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(369</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,430</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Liabilities</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28,342</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,105</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,105</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28,342</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Stockholders' Equity</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">156,652</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,429</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(G)&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,429</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">156,652</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TOTAL
    LIABILITIES AND STOCKHOLDERS' EQUITY</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">184,994</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,534</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,534</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">184,994</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>



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<P STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(1) As of March 31, 2015 for IMES</I></FONT></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Richardson
Electronics, Ltd.</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Unaudited Pro Forma Condensed Combined Statement
of Operations</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For Fiscal Year Ended May 30, 2015<BR>
</B><I>(amounts
in thousands, except share and per share amounts)</I></FONT></P>


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    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="19" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FY
    2015</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richardson</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IMES
    (1)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pro
    Forma Adjustments</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proforma</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 35%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net sales</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">136,957</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,179</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">146,136</FONT></TD><TD STYLE="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of sales</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">95,819</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,134</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,953</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross margin</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41,138</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,045</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;&nbsp;&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45,183</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selling, general, and
    administrative expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">49,229</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,608</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(E)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I)&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">322</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,159</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Gain) loss on disposal
    of assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
    Income (Loss)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8,086</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,439</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(322</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6,969</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other (income) expense</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-left: 10pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    (income) expense</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(999</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(H)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(966</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-left: 10pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign
    exchange (gain) loss</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(185</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;&nbsp;&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(185</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 10pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other,
    net</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">92</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(59</TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT>
    other (income) expense</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,092</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(24</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif">)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,118</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    (loss) from continuing operations before income taxes</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6,994</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,463</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(320</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,851</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income tax provision
    (benefit)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,466</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;&nbsp;&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(F)&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,466</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
    (loss) from continuing operations</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,528</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,463</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(320</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,385</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    Income (loss) from continuing operations per share</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per common share
    - basic</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.41</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.32</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per common share
    - diluted</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.41</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.32</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per
    Class B common shares - basic</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.36</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.29</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per
    Class B common shares - diluted</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.36</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.29</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted average number
    of shares</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common shares
    - basic</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,682</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,682</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common shares
    - diluted</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,682</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,682</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class
    B common shares - basic</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,151</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,151</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class
    B common shares - diluted</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,151</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,151</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(1) Statement of Income information for IMES is
for the period from April 1, 2014, to March 31, 2015.</I></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Notes
to Unaudited Pro Forma Condensed Combined Financial Information</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Amounts
in thousands</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 -11pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Description
of Transaction</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.9pt 8pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 15, 2015, Richardson Electronics, Ltd (&ldquo;the Company&rdquo;) acquired certain assets of International Medical Equipment
and Services, Inc. (&ldquo;IMES&rdquo;), pursuant to the terms of the Purchase Agreement (&ldquo;Agreement&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IMES,
based in South Carolina, provides reliable, cost-saving solutions worldwide for major brands of CT and MRI equipment. This acquisition
positions Richardson Healthcare to provide cost effective diagnostic imaging replacement parts and training to hospitals, diagnostic
imaging centers, medical institutions, and independent service organizations. IMES offers an extensive selection of replacement
parts, as well as an interactive training center, on-site test bays and experienced technicians who provide 24/7 customer support.
Replacement parts are readily available and triple tested to provide peace of mind when uptime is critical. IMES core operations
will remain in South Carolina. Richardson Healthcare will expand IMES' replacement parts and training offerings geographically
leveraging the Company&rsquo;s global infrastructure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consideration paid by the Company to IMES at closing was $12.2 million in cash. This includes the purchase of inventory, receivables,
fixed assets, and certain other assets of the company. The Company did not acquire any liabilities of IMES. The total consideration
paid excludes transaction costs and is subject to post-close adjustments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Agreement, the Company also entered into an Employment, Non-Disclosure, and Non-Compete Agreement (&ldquo;Employment
Agreement&rdquo;) with Lee A. McIntyre III as the Company&rsquo;s Executive Vice President, IMES. During the term of his employment,
Mr. McIntyre will earn an annual base salary of $300,000. In addition to his base salary, he will be entitled to an annual bonus
equal to 20% of the EBITDA of IMES provided that the EBITDA of the business is at least $2.0 million inclusive of the bonus payment.
The annual bonus payment will terminate after five years.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 -11pt 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Basis
of Presentation</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
unaudited pro forma condensed combined financial information was prepared using the acquisition method of accounting. The unaudited
pro forma condensed combined balance sheet as of May 30, 2015 is presented as if the acquisition of IMES had occurred on that
date. The unaudited pro forma condensed combined statement of operations for the year ended May 30, 2015 is presented as if the
IMES acquisition had occurred on June 1, 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
unaudited pro forma condensed combined statement of operations includes IMES&rsquo; statement of income from April 1, 2014, through
March 31, 2015, and the Company&rsquo;s statement of income from its fiscal year beginning June 1, 2014, and ended May 30, 2015.
The unaudited pro forma condensed combined balance sheet includes IMES&rsquo; balance sheet as of March 31, 2015, and the Company&rsquo;s
balance sheet as of May 30, 2015. The unaudited pro forma condensed combined financial information should be read in conjunction
with a) the Company&rsquo;s Annual Report on Form 10-K for the year ended May 30, 2015, and (b) with IMES&rsquo; historical financial
statements and notes thereto included in the Company&rsquo;s Current Report on Form 8-K/A to which this document is filed as an
exhibit. Certain reclassifications were made to the overall presentation of the historical IMES financial statements to conform
to the Company&rsquo;s presentation. The Company&rsquo;s unaudited condensed combined balance sheet as of August 29, 2015, reflects
the impact of the acquisition and an estimate of the purchase price allocation, and is included in the Company&rsquo;s Quarterly
Report on Form 10-Q for the quarterly period ended August 29, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
unaudited pro forma condensed combined financial information is provided for illustrative purposes only and is not necessarily
indicative of the financial results that would have occurred if the acquisition of IMES had been consummated on the dates indicated.
In addition, the unaudited pro forma condensed combined financial information does not purport to project the future operating
results of the Company. No effect has been given in the unaudited pro forma condensed combined financial information for the cost
of any integration activities or benefits that may result from synergies that may be derived from any integration activities.
The detailed valuation studies necessary to arrive at the required fair market value of the IMES assets to be acquired and the
related allocations of the purchase price have not been fully completed as of the date of this filing. The purchase price has
been allocated to the assets acquired based upon management&rsquo;s preliminary estimate of their respective fair values as of
the date of acquisition. Therefore, the actual amounts recorded as of the completion of the analysis might differ materially from
the information presented in the unaudited pro forma condensed combined financial statements. The pro forma adjustments, as described
in the accompanying notes, are based upon available information and certain assumptions that are believed to be reasonable as
of the date of this document.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 -11pt 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Assets
Acquired</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
estimated fair value of assets for the IMES transaction, reconciled to the consideration transferred, are provided below and are
presented as if the acquisition had occurred on May 30, 2015.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
    receivable</FONT></TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 18%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">806</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,923</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property,
    plant and equipment</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">230</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,850</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    intangibles</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,400</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 20.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    Price</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,209</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR CLEAR="ALL"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Pro
Forma Adjustments</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
note should be read in conjunction with <I>Note 1. Description of Transaction; Note 2. Basis of Presentation; and Note 3. Assets
Acquired</I>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjustments
under the heading &ldquo;Pro Forma Adjustments&rdquo; represent the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</FONT></TD>
    <TD STYLE="width: 92%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To eliminate the cash and
    prepaid assets that were not acquired from IMES and reflect the purchase price of $12.2 million. </FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To eliminate the net book value of automobiles
    of $0.2 million that were not part of the purchase price. </FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To record the definite-lived intangibles and
    goodwill acquired and the incremental amortization expense. The following is a summary of the acquired intangible assets preliminary
    fair value and average amortization periods: </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair&nbsp;Value</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average<BR>
    Amortization<BR> Period</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated<BR>
    Annual<BR> Amortization<BR> Expense</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 46%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -12pt; padding-left: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade
    Name</FONT></TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">700</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3
                                         years</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">233</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -12pt; padding-left: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer
    Relationships</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,500</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20&nbsp;years</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">125</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-indent: -12pt; padding-left: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">200</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10
                                         years</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-indent: -12pt; padding-left: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,400</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">378</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</FONT></TD>
    <TD STYLE="width: 92%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To eliminate the current
    and non-current liabilities not assumed with the acquisition.</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To include the full year of amortization expense
    of $0.4 million, offset with the depreciation expense of the automobiles of less than $0.1 million which were not included
    with the acquired assets.</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There is no tax provision to record for IMES
    as the Company has a net operating loss carryforward to offset the $1.4 million of net income from IMES.</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">G.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To eliminate IMES equity as of the date of the
    acquisition.</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">H.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To adjust for foregone interest income of $33
    thousand on cash paid for the acquisition of $12,209. The estimated amount of foregone interest is based on an estimated 27
    basis points based on average available short-term interest rates during such time.&nbsp;&nbsp;Also included in this adjustment
    is interest expense of $35 thousand that relates to the debt of IMES which was not acquired.</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I.</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Employment Agreement with the Company&rsquo;s
    Executive Vice President of IMES includes an annual bonus equal to 20% of the EBITDA of IMES provided that the EBITDA is at
    least $2 million inclusive of the bonus payment.&nbsp;&nbsp;The bonus payments will be expensed as earned.&nbsp;&nbsp;The
    annual bonus payment will terminate after five years.&nbsp;&nbsp;The potential compensation expense resulting from the bonus
    arrangement is not reflected in the pro forma condensed combined statement of operations because the ultimate level of such
    expense for any period is currently not factually supportable.</FONT></TD></TR>
</TABLE>

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